The USD has seen some marginal weakness in slow Asian trade. EUR/USD is up at 1.4215 from a North American close Wednesday around 1.4190, while GBP/USD is up at 1.6510 from around 1.6480.
The USD weakness comes against the backdrop of generally healthy risk appetite, financial markets having found solace in the Fed’s assertion that economic activity is “leveling out.”
So moving smartly on to today. Obviously the main focus will be on European Q-2 growth data which should help keep the market on it’s toes. We’ve also got the ECB monthly report for August, but that should ellicit no more than cursory interest.
Data due:
06:00 GMT: German Q-2 GDP (prov) expected -0.2% q/q, wda -6.6% y/y, n.s.a -7.6% y/y
06:45 GMT: French Q-2 GDP (prov) expected -0.3% q/q, -3.2% y/y
07:15 GMT: Swiss producer & import prices (July) expected +0.1% m/m, -5.8% y/y
08:00 GMT: ECB monthly report (Aug)
09:00 GMT: Euro zone Q-2 GDP (prov) expected -0.5% q/q, -5.1% y/y