| EUR/USD | USD/JPY | GBP/USD | USD/CHF | |
| 1.4720(M) | 96.25(M) | 1.7200(M) | 1.0890(M) | |
| Resistance | 1.4500(W) | 96.15(M) | 1.7105(M) | 1.0890(M) |
| 1.4445(M) | 95.90(M) | 1.7005(M) | 1.0735(M) | |
| 1.4306(W) | 94.70(M) | 1.6900(W) | 1.0565(M) | |
| Support | 1.4265(M) | 94.05(S) | 1.6818(W) | 1.0485(M) |
| 1.4200(M) | 93.85(M) | 1.6696(M) | 1.0370(M) |
The euro may approach its December high of $1.4720 after breaking through “key” resistance at $1.4338, JPMorgan Chase & Co. said, citing trading patterns. A bullish breakout is under way following the impulsive advance” through the June high, Niall O’Connor, a technical analyst at JPMorgan in New York, wrote in a note to clients today. “The upside bias will likely shift into a grind higher, but keep in mind there is little evidence of a topping pattern right now.” The euro advanced for a third day yesterday as the Dollar Index, which the ICE uses to track the dollar against currencies of six major U.S. trading partners including the euro and the yen, dropped to a 10-month low of 77.451. The EUR/USD is currently trading at $1.4395 as of 8:30am, London Time.
Sterling Rose on Monday after data showed UK factory activity grew last month for the first time in more than a year and as earnings results from HSBC and Barclays plc boosted bank shares. The British pound has been shown to be closely correlated with European banking shares, possibly due to London's role as a global financial centre whose fortunes have a significant impact on the national economy. The UK currency gained ground after purchasing managers' data on Monday showed British manufacturing activity grew last month for the first time since March 2008. The headline manufacturing purchasing managers' index rose to 50.8 in July from a revised 47.4 the previous month, and beat forecasts of 47.7. The GBP/USD is currently trading at $1.6935 as of 8:58am, London Time.
The dollar may underperform its major peers except the yen amid the revival in risk appetite, according to UBS AG. “The improvement in the global-growth outlook makes it easier for growth-sensitive currencies to continue their outperformance,” Geoffrey Yu, a currency strategist in London, wrote today in an investor report. “All major currencies bar the yen are still expected to outperform the dollar in the current risk environment.” The USD/JPY is currently trading at 94.95 as of 9:01am, London.
Today's Economic Events
| Time | Event | Currency/Country | Period | Previous | Forecast | Significance | Actual |
| 23:30 | AiG Performance of Service Index | Australia | 50.2 | 4 | |||
| 23:30 | Trade Balance | AUD/Australia | -556 | 2 | |||
| 23:01 | Nationwide Consumer Confidence | UK | 58 | 3 | |||
| 21:00 | ABC News Consumer Confidence Index | United States | -47 | 4 | |||
| 14:00 | Pending Home Sales Index | United States | 0.1 | 2 | |||
| 12:30 | Personal Spending (M-o-M) | United States | Monthly | 0.3 | 0.3 | 2 | |
| 12:30 | Personal Income (M-o-M) | United States | Monthly | 1.4 | 2 | ||
| 12:30 | Personal Consumption Expenditure Deflator (Y-o-Y) | United States | Yearly | 0.1 | 3 | ||
| 9:00 | PPI (M-o-M) | Eurozone | Monthly | -0.2 | 2 | ||
| 9:00 | PPI (Y-o-Y) | Eurozone | Yearly | -5.9 | -6.6 | 3 | |
| 8:30 | PMI Construction | UK | 44.5 | 45 | 4 | 47 | |
| 8:00 | PMI Composite | Eurozone | 2 | ||||
| 7:15 | CPI (M-o-M) | Switzerland | Monthly | 0.2 | -0.6 | 2 | |
| 7:15 | CPI (Y-o-Y) | Switzerland | Yearly | -1 | -1.1 | 3 | |
| 5:30 | RBA Commodity Index (Y-o-Y) | Australia | Yearly | -28.3 | 3 | -31.8 | |
| 4:30 | Interest Rate Decision | Australia | 3 | 3 | 2 | 3 | |
| 4:00 | Official Foreign Reserves | USD/United States | 82.77 | 3 | |||
| 3:00 | ANZ Commodity Price | New Zealand | 0.2 | 3 | |||
| 1:30 | House Price Index (Q-o-Q) | Australia | Quarterly | -2.2 | 2 | 3 | |
| 1:30 | House Price Index (Y-o-Y) | Australia | Yearly | -6.7 | -4.9 | 4 | |
| 1:30 | Retail Sales (M-o-M) | Australia | Monthly | 1.00% | 0.50% | 2 |
