• German factory orders in June (MoM) 4.1%, 1.9% expected, -3.7% previous
• French industrial production in June (MoM) 0.5%, 0.6% forecast, -0.3% previous
• German July IHS Markit Construction PMI 47.1 47.0 previous
• UK Jul Construction PMI 58.7 64.0 forecast, previous 66.3
• BoE interest rate decision in August in UK 0.10% forecast, 0.10% previous
Future Outlook – Economic Data (GMT)
• 12:30 Unemployment claims in the United States averaged over 4 weeks previous 394.50K
• 12:30 p.m. Continuing unemployment claims in the US 3,260,000 forecasts, previous 3,269,000
• 12:30 United States Exports 204.99B previous
• 12:30 US imports 273.89B previous
• 12:30 pm Initial jobless claims in the United States 384,000 forecasts, previous 400,000
• 12: 30 Canada June Exports 49.53B previous
• 12: 30 United States trade balance in June -74.10B forecast, -71.20B previous
• 12: 30 United States trade balance in June -0.68B forecast, -1.39B previous
• 12:30 p.m. June imports to the United States Previous $ 50.92 billion
Future prospects – Events, other versions (GMT)
• No significant data
EUR / USD: Euro edged up against dollar on Thursday after data showed German industrial orders rebounded in June German industrial orders rose more than twice as expected in June, driven by reservations domestic customers for large manufactures, but lower turnover suggested that supply bottlenecks continued to hold back production. Figures released by the Federal Statistical Office showed that orders for “Made in Germany” products jumped 4.1% over the month in seasonally adjusted terms. Immediate resistance can be seen at 1.1859 (38.2% fib), a bullish breakout can trigger a rise towards 1.1902 (23.6% fib). On the downside, immediate support is seen at 1.1825 (50% fib), a break below could take the pair towards 1.1795 (61.8% fib).
GBP / USD: The pound sterling rose on Thursday ahead of a Bank of England meeting in which policymakers are expected to continue pushing stimulus measures despite rising inflation and a strong economic recovery. Investors will be watching closely for any signal from the central bank on its plan for how it ends up reversing its stimulus, with some policymakers elsewhere starting to cut back on asset purchases. Immediate resistance can be seen at 1.3981 (daily high), a bullish breakout can trigger a rise towards 1.4009 (21DMA). On the downside immediate support is seen at 1.3875 (38.2% fib), a break below could take the pair towards 1.3823 (21DMA).
USD / CHF: The dollar edged up against the Swiss franc on Thursday as the greenback gained after July data showed US job growth slowed but demand for services increased , all as Federal Reserve officials signaled a likely withdrawal of market support. The private sector wage bill in the United States grew much less than expected in July, possibly hampered by shortages of workers and raw materials. The Institute for Supply Management said on Wednesday that its non-manufacturing activity index reached 64.1 last month, from 60.1 in June, the highest figure in its history. Immediate resistance can be seen at 0.9086 (50% fib), a bullish breakout can trigger a rise towards 0.9128 (61.8% fib). On the downside immediate support is seen at 0.9047 (38.2% fib), a break below could take the pair towards 0.9000 (Psychological level).
USD / JPY: The dollar strengthened against the Japanese yen on Thursday as hawkish comments from the US Federal Reserve led markets to advance the likely timing of policy tightening. The rally came after Fed Vice Chairman Richard Clarida said the conditions for an interest rate hike could be met by the end of 2022, paving the way for a move in early 2023 The dollar also hit 109.67 yen, against a low of 108.71 on Wednesday, reversing what had been a bearish break down. Strong resistance can be seen at 109.74 (61.8% fib), a bullish breakout can trigger a rise towards 109.87 (21DMA). On the downside immediate support is seen at 109.30 (38.2% fib), a break below could take the pair towards 108.78 (23.6% fib).
Summary of actions
European stocks hit record highs on Thursday, as strong earnings from Novo Nordisk and Siemens helped offset weakness in mining and banking stocks.
At (GMT 10:49), the UK benchmark FTSE 100 was last trading at 0.18%, the German Dax was up 0.04%, the French CAC was up 0, 35%.
Summary of commodities
Gold prices were down Thursday as a slight rise in the dollar followed hawkish comments from a key Federal Reserve official who raised early reduction bets and reduced demand for the safe haven metal.
Spot gold fell 0.1% to $ 1,809.10 an ounce at 8:53 am GMT, while US gold futures were down 0.1% to $ 1,812.10 .
Oil prices rose to around $ 71 a barrel on Thursday amid mounting tensions in the Middle East, as new movement restrictions imposed by countries to counter an increase in COVID-19 cases threatened a recovery in demand.