Forex Today: US dollar corrects, US-Japan eye a trade deal, and Bitcoin bounces


  • US dollar reverses a part of Tuesday’s US retail sales data-led rally.
  • US-Japan working towards a trade deal by September.
  • Bitcoin recovers, but remains below the 10k mark.

Here is what you need to know to start your day on Wednesday, July 17th, European session: 

- Aussie fell from weekly highs on China’s Camsing fraud scandal news, Kiwi emerged the strongest in Asia.

- US-Japan eyeing a trade deal by September, Fitch affirmed Japan at ‘A’, outlook ‘Stable’, USD/JPY defended 108.00 amid mixed Asian equities.

- US dollar index pulled back from overnight highs amid falling Treasury, Gold traded modestly flat.

- UK: The Cable attempted recovery above 1.24 ahead of key UK CPI report, hard Brexit fears to remain a weight.

- Oil prices stabilized following the overnight dip to weekly lows, EIA stocks data eyed.

- Crypto bears took a breather. Bitcoin remained below 10k. US senators grilled Facebook on crypto plans, as political and regulatory scrutiny of coins intensified.

Economic events to watch

GMT
Event
Vol.
Actual
Consensus
Previous
Tuesday, Jul 16
24h
 
 
n/a
2.7%
-2.5%
-0.4%
15:30
1.915%
 
1.985%
17:00
 
 
19:00
 
 
3%
19:30
 
 
20:00
$3.5B
$32.3B
$46.9B
20:00
$32.9B
$13.1B
$-9.0B Revised from $-7.8B
20:30
-1.401M
 
-8.129M
Wednesday, Jul 17
00:30
-0.08%
 
-0.08%
07:00
 
 
1.7%
07:00
 
 
0%
07:00
 
3.2%
3.8%
07:00
 
-0.1%
0.5%
07:00
 
2.7%
2.7%
07:00
 
0.1%
0.4%
07:30
 
 
08:00
 
-1.4%
-2.4%
08:00
 
-0.5%
-1.0%
08:00
 
-4.2%
-0.2%
08:00
 
-2.5%
-0.7%
08:00
 
7.0%
7.7%
08:30
 
0.1%
0.3%
08:30
 
2.9%
3.0%
08:30
 
1.2%
1.4%
08:30
 
0.1%
0.3%
08:30
 
1.7%
1.8%
08:30
 
0.1%
0.1%
08:30
 
1.7%
2.0%
08:30
 
0.5%
1.3%
08:30
 
-0.8%
0.0%
08:30
 
2%
2%
08:30
 
1.8%
1.7%
08:30
 
0.0%
0.3%
09:00
 
0.1%
0.1%
09:00
 
0.3%
0.3% Revised from -0.1%
09:00
 
1.1%
1.1%
09:00
 
1.2%
1.2%
09:00
 
2.4%
3.9%
09:00
 
-0.70%
-0.81%
n/a
 
 
0.26%
10:00
 
 
10:00
 
 
€-1.582B
11:00
 
 
-2.4%
11:00
 
1.6%
2.4%
11:30
 
 
10.1%
12:30
 
1.9%
-0.9%
12:30
 
1.261M
1.269M
12:30
 
1.300M
1.299M Revised from 1.294M
12:30
 
 
0.7% Revised from 0.3%
12:30
 
1.6%
-0.6%
12:30
 
2.6%
2.1%
12:30
 
0.1%
0.4%
12:30
 
2.0%
2.4%
12:30
 
 
0.3%
12:30
 
-0.2%
0.4%
13:00
 
4.5%
4.5%
14:30
 
-3.375M
-9.499M
18:00
 
 
23:50
 
-0.4%
-1.5%
23:50
 
-5.6%
-7.8%
23:50
 
¥420.0B
¥-968.3B Revised from ¥-967.1B
23:50
 
¥-524.8B
¥-609.1B
Thursday, Jul 18
01:00
 
1.75%
1.75%
01:30
 
 
2.4K
01:30
 
10.0K
42.3K
01:30
 
 
39.8K
01:30
 
5.2%
5.2%
01:30
 
66%
66%
04:30
 
 
3.3%
06:00
 
3,013M
3,410M
06:00
 
 
21,485M
06:00
 
 
18,074M
n/a
 
5.75%
6.00%
08:00
 
2.0%
7.7%
08:00
 
0.7%
1.4%
08:30
 
-0.3%
-0.5%
08:30
 
2.6%
2.3%
08:30
 
-0.2%
-0.3%
08:30
 
2.7%
2.2%
08:30
 
 
08:30
 
 
2.8%
n/a
 
 
0.257%
n/a
 
 
-0.408%
n/a
 
 
-0.182%
n/a
 
 
8.7%
12:30
 
1.699M
1.723M
12:30
 
 
219.25K
12:30
 
215K
209K
12:30
 
5.0
0.3
12:30
 
 
-16K
13:00
 
6.50%
6.75%
13:00
 
 
$518.3B
13:30
 
 
14:30
 
73B
81B
15:30
 
 
2.135%
18:15
 
 
21:00
 
 
2.5%
21:00
 
0.5%
0.4%
21:00
 
-0.1%
0.0%
23:30
 
0.6%
0.5%
23:30
 
0.6%
0.8%
23:30
 
0.7%
0.7%
23:50
 
 
¥192.2B
23:50
 
 
¥297.1B
Friday, Jul 19
03:00
 
5.4%
6.6%
04:30
 
-0.2%
0.9%
06:00
 
-0.2%
-0.1%
06:00
 
1.4%
1.9%
08:00
 
4.9%
7.3%
08:00
 
 
€21B
08:00
 
 
€19.2B
08:30
 
£3.200B
£4.463B
08:30
 
 
€-1.4B
08:30
 
4.9%
4.9%
11:30
 
 
12%
11:30
 
 
$429.91B
12:30
 
0.4%
0.1%
12:30
 
0.3%
0.1%
13:00
 
 
-7
14:00
 
98.6
98.2
15:00
 
 
$-460.1M
15:05
 
 
17:00
 
 
784
19:30
 
 
$17.2K
19:30
 
 
$244.8K
19:30
 
 
390.1K
19:30
 
 
£-73K
19:30
 
 
¥-3.7K
19:30
 
 
€-35.9K
19:30
 
 
$-54K
20:30
 
 
Saturday, Jul 20
24h
 
 

 

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