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European Economics Preview: Germany's GfK Consumer Sentiment Data Due

Consumer confidence from Germany is the major report due on Thursday, headlining a light day for the European economic news.
The market research group GfK is set to publish German consumer sentiment survey results at 2.00 am ET. The forward-looking index is expected to remain at 5.8 in August.
In the meantime, Germany's import prices are due. Economists forecast import prices to rise 1.9 percent annually in June after increasing 2.2 percent in May.
At 3.15 am ET, Sweden's economic tendency survey results are due. The index is seen easing to 98 in July from 98.7 in June.
Statistics Sweden is slated to publish producer prices for June at 3.30 am ET. Producer price inflation is seen at 0.4 percent in June, up from from 0.3 percent in May. Also, Sweden's trade balance and unemployment figures for June are due.
Half an hour later, the European Central Bank is set to release Eurozone M3 money supply for June. M3 money supply is expected to grow at a pace of 2.9 percent annually.
In the meantime, retail sales data from Poland and Italy are due. Italy's retail sales are forecast to drop 0.3 percent month-on-month in May, while Poland's retail sales are expected to rise 9 percent in June.
At 5.10 am ET, Italy's BTP auction results are due. The government plans to offer EUR 1.5 billion to EUR 2.5 billion zero coupon bonds.
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China Industrial Profits Dip For Third Month Amid Economic Slowdown

China's industrial firms reported a decline in their profits for the third month in a row as slowing economy dampened demand, the latest figures from the National Bureau of Statistics revealed Friday.
Profits declined 1.7 percent year-on-year in June to CNY 468.2 billion. This followed a 5.3 percent drop in May and 2.2 percent fall in April.
For the first six months of the year, profits dipped 2.2 percent annually to CNY 2.31 trillion. Total industrial revenue for the first half was 11.3 percent higher than the same period last year.
Official data showed this month that growth in China's industrial production slowed to 9.5 percent in June from 9.6 percent in May. The Ministry of Industry and Information Technology said this week that the foundation for stable industrial performance is fragile and downward pressures still remain.
China's economic growth eased to 7.6 percent in the second quarter, logging the weakest growth rate since the first quarter of 2009.
The International Monetary Fund expects China's economic growth to moderate to around 8 percent this year. The Fund has warned that China faces significant downside to its economic outlook, mainly due to weak global economic conditions.
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European Economics Preview: Germany Factory Orders Data Due

Factory orders from Germany and industrial production from the U.K. are due on Tuesday, headlining a busy day for the European economic news.
The State Secretariat for Economic Affairs is set to publish Swiss July unemployment data at 1.45 am ET. The jobless rate is seen unchanged at a seasonally adjusted 2.9 percent.
At 3.00 am ET, Hungary's industrial output figures are due. Economists forecast output to rise 2.2 percent annually in June, following a 1.9 percent rise in May.
Switzerland's Federal Statistical Office is scheduled to publish consumer prices for July. On a yearly basis, prices are expected ease at a slower pace of 0.8 percent after falling 1.1 percent in June.
At 3.30 am ET, Sweden's budget balance and Dutch industrial production are due.
Half an hour later, industrial production figures are due from Italy and Norway. Italy's industrial output is forecast to drop 1 percent month-on-month, following a 0.8 percent rise a month ago.
The Office for National Statistics is slated to publish U.K. industrial output data at 4.30 am ET. Industrial output is seen falling 3.5 percent month-on-month and manufacturing output to slip 5.7 percent.
At 5.00 am ET, Italy's GDP data is due. Economists forecast the economy to shrink 0.8 percent sequentially in the second quarter.
The Federal Ministry of Economy and Technology is slated to release German factory orders at 6.00 am ET. Factory orders are forecast to fall 0.8 percent on a monthly basis, reversing a 0.6 percent rise a month ago.
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Aussie Rises Amid RBA Rate Decision



As expected, the Reserve Bank of Australia kept rates on hold at 2.75 percent. Amid the announcement, the aussie edged up against its major opponents.


The aussie is now trading at 0.9731 against the greenback, 96.88 against the yen, 1.3424 against the euro and 1.2073 against the kiwi.

News are provided by InstaForex.

Indian Rupee Climbs To 6-day High Against U.S. Dollar



The Indian rupee advanced against the U.S. dollar in early deals on Wednesday.


The rupee approached a 6-day high of 56.315 against the greenback, adding 0.23 percent from Tuesday's close of 56.4455. The next upside target level for the rupee is seen around 56.00.

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Australian Dollar Slides To More Than 2-year Low Against Canadian Dollar



The Australian dollar fell sharply against the Canadian currency in the Asian session on Thursday.


The aussie slipped to 0.9788 against the loonie for the first time since March 2011. The aussie thus lost 0.81 percent against the loonie from Wednesday's close of 0.9868. The aussie-loonie pair may eye next support around 0.97 level.


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Aussie Plumb Multi-Month Lows on Trade Basis



Aussie fell to $0.9492, from $0.9558 early, pulling closer to a 20-month low of $0.9427 set Thursday. It was track to end the week 0.8 percent lower.

On a trade-weighted basis, the Aussie plunged to 72.2, its weakest in 20 months, while the kiwi fell to a five-month trough of 74.34.

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Singapore Dollar Declines To 5-day Low Against U.S. Dollar



The Singapore dollar drifted lower against the U.S. dollar in Asian deals on Monday.


The Singapore dollar fell to a 5-day low of 1.2552 against the greenback, down from Friday's close of 1.2487. The Singapore dollar may eye next downside target level around 1.26.

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Yen Climbs Amid BoJ Rate Decision



As expected, the Bank of Japan leaves monetary policy unchanged. After the announcement, the yen advanced against other major currencies.


The yen is now trading at 98.33 against the greenback, 130.48 against the euro, 105.34 against the franc and 153.09 against the pound.

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Singapore Dollar Off 2-day High Against U.S. Dollar



The Singapore dollar wiped out its early gains against the U.S. dollar in the Asian session on Wednesday.


The Singapore dollar is now trading at 1.2560 against the greenback, retreating from an early 2-day high of 1.2515. The greenback-Singapore dollar pair ended Tuesday's deals at 1.2540.

News are provided by InstaForex.