Forex Focus on Germany August Ifo business climate survey

A wild week for markets starting today as trade war between US and China intensifies. EURUSD traders await the Germany August Ifo business climate survey due at 8:00GMT. USDCHF will follow the SNB total sight deposits w.e. 23 August due at 8:00GMT.

In US calendar investors will watch the Durable Goods Orders m/m and Chicago Fed National Activity Indexdue at 12:30GMT.

The central bank of China set the Yuan rate (USDCNY) at 7.0570, versus Friday’s fix at 7.0572. Reserve Bank of Australia’s Lowe noticed that monetary policy can push up asset prices but can’t support and deliver medium term growth.

Japan Leading Economic Index came in at 100.4 beating forecasts of 93.3 in June. Japan June final leading indicator index came in at 93.3 as per expectations. Singapore Industrial Production (year over year) came in at -0.4%, topping forecasts of -4.9% in July.

Investors closely watch the recent esclation on US – China trade war, Brexit developments, and Italian politics. EURUSD is trading 0.10% higher at 1.1147, the USDJPY is 0.06% lower at 105.29 while the AUDUSD is 0.13% lower at 0.6736.Don’t miss a beat! Follow us on Telegram and Twitter.

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