Data:
01:00 New Zealand Business Confidence (Jul) 47.6 46.5
01:30 Australia Consumer Price Index (YoY) (Q2) 3.6% 3.4% 3.3%
01:30 Australia Consumer Price Index (QoQ) (Q2) 0.9% 0.7% 1.6%The dollar weakened against most of its major peers as President Barack Obama and Congress remained at odds overs plans to raise the U.S. debt limit and prevent a default and credit-rating downgrade.
The greenback touched a record low against New Zealand’s dollar before a U.S. report forecast to show demand for durable goods grew at a slower pace in June.
Australia’s dollar climbed to an all-time high after data showed inflation accelerated.
The yen reached the strongest level in four months versus the dollar, stoking speculation Japan’s authorities will take steps to weaken the currency to protect exporters.
Traders are betting the Reserve Bank of Australia will cut its key rate by 20 basis points in the next 12 months, compared with a decrease of 55 basis points expected as of July 18, according to a Credit Suisse Group AG index based on swaps.
EUR/USD: on asian session the pair was at $1.4490-$ 1.4535.
GBP/USD: on asian session the pair was at $1.6400-$ 1.6435.
USD/JPY: the pair decreased in Y77.70 area.
German import prices for June is due at 12:00 GMT. UK data includes the 1000GMT release of the latest CBI Industrial trends data. The June CBI industrial trends survey appeared robust, with
US data starts at 1230GMT by Durable Goods Orders data. Durable goods orders are expected to rise 0.5% in June after the surge in May. The weekly EIA Crude Oil Stocks data is then due, at 1430GMT.
At 1800GMT, the Fed's Beige Book will provide anecdotal evidence of conditions in the US economy for June through mid-July.