Forex Focus: US Q2 GDP Will Drive USDJPY

USDJPY traders had a quiet trading session and that will be the case for the EURUSD traders as we await the Germany June import price index due 6:00GMT,  the France July consumer confidence data will be released at 6:45GMT later on the day the ECB will release its latest survey of professional forecasters (SPF).

In US Forex calendar the US Q2 GDP and Personal Consumption Expenditures Prices will be released at 12:30GMT. Oil traders will watch the Baker Hughes US Oil Rig Count figures, due at 17:00GMT.

Tokyo inflation figures came out 0.1% topping expectations, Japan Tokyo Consumer Price Index (YoY) came in at 0.9% below forecasts of 1.1% in July. Singapore Industrial Production (MoM) came in at 1.2% beating expectations of -0.7% in June. Singapore Industrial Production (YoY) came in at -6.9% lso beating forecasts -7.9% in June.

USDJPY retreats from yesterday high at 108.75 and is trading lower at 108.63, while EURUSD trades flat at 1.1145, having hit yesterday the yearly low at 1.1101.Don’t miss a beat! Follow us on Twitter.