15.07.2015 - Chinese GDP grew by 7.0%

Currency trading and the euro. The price of euro continues to consolidate near the level of 1.1000 on expectations of today's vote in the Greek Parliament of the laws that are necessary for Greece to get the third package of financial aid from the lenders. It is worth noting the lack of growth in the euro despite the decline in the US dollar after the publication of weak data on retail sales in the United States, which fell by 0.3% in June against the forecast of growth by 0.2%. At the same time, the index of small business optimism in the US fell to 94.1 against the expected increase to 98.6. Industrial production in the euro area declined in May by 0.4%, which is 0.6% worse than expected. Today, it is worth paying attention to the statistics on the Producer Price Index (12:30 GMT) and industrial production in the US (13:15 GMT), as well as the speech of the Fed's chairman Janet Yellen (14:00 GMT). Our medium-term outlook for the euro remains negative.

Currency trading and the British pound. The price of the British pound continued to rise gradually due to the weakening of the US dollar against the backdrop of weak statistics in America. In addition, a strong driver for growth was the statement of the Bank of England, according to which the time of rising interest rates by the regulator is getting closer. It should be noted that the consumer price index in the country remained unchanged in June compared with the same period of the last year. Today, a strong influence on the course of trading will have the data on the UK labor market (8:30 GMT). Our medium-term outlook remains negative, but in the near future the price may continue to grow.

Currency trading and the Japanese yen. The price decline of the Japanese yen has stopped against the weakening US dollar after the release of weak statistics on retail sales in the country. In addition, today was issued a statement by the Bank of Japan, according to which the parameters of monetary policy have remained unchanged, but the outlook for GDP growth in 2015 was lowered by 0.3% to 1.7% and the core CPI will be 0,7% versus the previous estimate of 0.8%. The course of trading may be influenced by the news on the vote on the austerity measures in the Greek parliament. Our medium-term negative outlook for the yen remains negative.

Currency trading and the Australian dollar. The price of the Australian dollar is rising against the weakening US dollar, but also due to the unexpectedly strong statistics on the Chinese economy. Thus, GDP growth in the second quarter was 7.0% compared with the same period of the last year, which is 0.1% better than expected. Retail sales in China grew by 10.6% vs. predicted 10.2% for the year and the volume of industrial production in June increased by 6.8%, which is 0.8% more than the forecasted level. It should be noted that the consumer confidence index in Australia in July was -3.2%, against -6.9% in the previous month. We maintain a medium-term negative outlook for the Australian dollar.

Currency trading and the New Zealand dollar. The price of the New Zealand dollar continues to consolidate around the level 0.6700 after the decline has stopped. Support for the national currency of the country was the weakening of the US dollar and the positive statistics from China. Tonight will be published data on the index of business sentiment in the manufacturing sector (22:30 GMT) and the consumer price index of New Zealand (22:45 GMT). Our medium-term outlook remains negative.

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