The U.S. dollar extended its rally on Monday also, it jumped near a two-week high after a survey from the Federal Reserve showed U.S. banks reported tighter credit standards and weaker loan demand during the second quarter, a sign rising interest rates are having an impact on the economy.
The dollar index is up by 0.16% against a basket of currencies to 101.7000%
Gold Prices up by 0.86% settled 59568. Silver jumped by 1.85% and settled at 75427. Copper witnessed a 1.63% gain and settled at 755.90. Crude was up by 1.79% at 6697.00.
Economic data and events to watch today
Bank of Australia
At 10.00 am – Cash Rate. The forecast is to hike by 4.35% from the previous 4.10%. and RBA Rate Statement
The above decision will drag huge volatility during the day.
Eurozone
At 12.45 pm – Spanish Manufacturing PMI. Data is foreseen at 48.2 from the previous 48.0.
At 1.15 pm – Italian Manufacturing PMI. Data is foreseen at 44.4 from the previous 43.8.
At 1.20 pm – French Final Manufacturing PMI. Data is foreseen at 44.5 unchanged from the previous.
At 1.25 pm – German Final Manufacturing PMI. Data is foreseen at 38.8 from the previous 38.8.
German Unemployment Change. Data is foreseen at 19k from the previous 28k.
At 1.30 pm –
Final Manufacturing PMI. Data is foreseen at 42.7 from the previous 47.7.
Italian Monthly Unemployment Rate. Data is foreseen at 7.7% from the previous 7.6%.
At 2.00 pm – Final Manufacturing PMI. Data is foreseen at 45.0 from the previous 45.0.
At 2.30 pm – Unemployment Rate. Data is foreseen at 6.5% from the previous 6.5%.
All the above data could have a volatile impact on the Euro.
U.K.
At 11.30pm – Nationwide HPI m/m. Data is foreseen at -0.5% from the previous 0.1%.
At 2.00 pm – Final Manufacturing PMI. Data is foreseen at 45.00 unchanged from the previous 45.00.
The above data could have a mixed impact on the pound..0
Canada
At 7.00 pm – Manufacturing PMI. The previous was at 48.00.
Above data could have a positive impact on the Canadian dollar.
U.S
At 7.15 pm – Final Manufacturing PMI. Data is foreseen at 49.00 unchanged from the previous.
At 7.30 pm –
ISM Manufacturing PMI Final. Data is foreseen at 46.9 lower than the previous 46.00.
JOLTS Job Openings. Data is foreseen at 9.61M lower from the previous 9.82M.
ISM Manufacturing Prices. Data is foreseen at 43.2 from the previous 41.8.
Construction Spending m/m. Data is foreseen at 0.6% from the previous 0.9%.
At 7.30 pm- Wards Total Vehicle Sales. The forecast is 15.6M from the previous 15.7M.
All the above data could have a volatile impact on the dollar.