Forex Focus on US MBA mortgage applications
It will be a quiet calendar today, EURUSD traders expect at 6:00GMT the Germany June industrial production data, the France June trade balance data will be released at 6:45GMT. Switzerland July foreign currency reserves is due at 7:00GMT. UK July Halifax house prices data will be published at 7:30GMT
In the American calendar the US MBA mortgage applications w.e. 2 August will be released at 11:00GMT. EIA Crude Oil Stocks Change will be released at 14:30. In Canada the Ivey PMI will be released at 14:00GMT.
RBNZ today cut more aggressively the OCR by 50bp to 1.00%, the market forecasting a 25bp cut.
Australia Home Loans came in at -0.9%, below forecasts of 0.6% in June. Investment Lending for Homes came in at 0.5% for June vs -1.7%.