The relatively positive, or rather not worse than expected GDP data for France, Germany and the Eurozone as a whole, contributed to the strengthening of the single currency, which could increase to 1.2385, but it was still not enough for the development of an upward momentum and the euro moved back to the support level of1.2320. The U.S. dollar's strengthening, which was due to better than expected data on retail sales, contributed to the reduction in the euro/dollar.
Planned for today:
12:30 — UK. ILO Unemployment Rate (3mths);
12:30 — UK. Bank of England Releases Monetary Policy Committee Minutes;
12:30 — UK. Claimant Count Rate;
16:30 — USA. Empire Manufacturing;
16:30 — USA. Consumer Price Index (MoM);
17:00 — USA. Net Long-term TIC Flows;
17:15 — USA. Industrial Production;
18:30 — USA. Crude Oil Inventories.
Last meeting minutes of the FRS are in the center of attention today. In case voting in favor of extending the asset purchases program, then this may be followed by a reduction in the British currency. Strong data on industrial production in the United States will support the dollar, especially paired with the Japanese yen, as well as in relation to gold.