GBPUSD: Forex Focus on UK’s Next Prime Minister

GBPUSD traders will be busy as we have the UK July CBI trends total orders, selling prices due at 10:00GMT, and also we have the announcement of UK next prime minister around 10:45GMT with Boris Johnson the favorite. EURUSD traders will closely watch the EU Consumer Confidence Index due at 14:00GMT while in the US calendar we have the Existing Home Sales to be released at 14:00GMT.

In our central banks calendar BoE MPC Member Haldane will deliver a speech while yesterday Reserve Bank of Australia Assistant Government Kent said that RBA will adjust policy if needed to meet targets. Tomorrow starts the ECB policy meeting as traders expecting that the ECB will cut rates by 10 basis points in September and restart the quantitative easing program later this year. South Korean Central Banker Had Lee said that they are ready to cut interest rates further if needed

In Asian trading session the Singapore Consumer Price Index (year over year) came in at 0.6, missing expectations of 0.7 in June. Japan June final machine tool orders –came in at 37.9% topping expectation of -38.0% year over year prelim

Reports are coming that South Korean military fired warning shot at Russian military airplane.

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