Forex Focus on Germany July CPI figures and FOMC Meeting

EURUSD traders will be busy today as the day starts with Germany August Gfk consumer confidence due to be released at 6:00GMT, France June consumer spending data will be next at 6:45GMT, while  Switzerland July KOF leading indicator index to be released at 7:00GMT.

At 9:00GMT the Eurozone July final consumer confidence and Eurozone July economic, business, industrial, services confidence will be released, while at 12:00GMT the Germany July preliminary CPI figures will be published.

Australia Building Permits (YoY) came in at -25.6%, below expectations of -24.3% in June, while the Building Permits (MoM) came in at -1.2%, below expectations of -1% in June.

Japan Unemployment Rate came in at 2.3% below expectations of 2.4% in June.  Japan Industrial Production (MoM) came in at -3.6%, below expectations (-2%) in June, while Industrial Production (YoY) registered at -4.1%, below expectations of -1.6%.

Bank of Japan left its interest rate policy unchanged, as widely expected, and maintained its guidance of extremely low rates at least through spring next year. The Bank of Japan added it would ease “without hesitation” if the economy growth loses momentum for achieving the BOJ’s 2% inflation target.

New Zealand Building Permits s.a. (MoM) dipped from previous 13.2% to -3.9% in June.

The FOMC begins its two-day policy meeting, at which it is expected to cut interest rates by 25 basis points. If implemented, it would be the Fed’s first rate cut in a decade.Don’t miss a beat! Follow us on Twitter.