Currency Trading at www.Elite-Trading-Corp.com

The euro finished sharply lower against the US Dollar on a bad day for risk sentiment, with analysts blaming poor German CPI results for noteworthy underperformance against the British Pound. Preliminary Consumer Price Index data showed that domestic prices fell 0.6 percent in the year-ending in July—the first year-over-year decline since German unification. The CPI pullback forced a commensurate pullback in European Central Bank interest rate expectations.

The New Zealand dollar moved sharply lower against US and Australian counterparts following a highly-anticipated central bank rate decision.

On Thursday, the Bank of England is expected to leave rates unchanged for the fourth straight month on July 9 at 7:00 ET at an all-time low of 0.50 percent. The central bank’s last policy statement essentially signaled a neutral stance, as no expansions to their quantitative easing (QE) program have been revealed.

The breakwater has finally given way for the yen crosses.

The British pound was one of the weakest major currencies, which has been somewhat of a trend over the past few days as speculation about the outcome of Thursday’s Bank of England meeting builds. Today, Lloyds Banking Group’s UK Halifax house price index said that home prices unexpectedly fell by 0.5 percent in June to an average value of 157,713 pounds.

- US Dollar Retraces Gains, Japanese Yen Up as Risk Appetite Remains on Edge - British Pound Tumbles Amidst Speculation BOE Will Expand UK Quantitative Easing Program - Canadian Dollar to Face Ivey PMI on Tuesday - Swiss Franc Remains Range-Bound vs. Euro, SNB Intervention Risk Looms Australian Dollar Rebounds Ahead of Key Reserve Bank of Australian (RBA) Rate Decision The Australian dollar staged a solid comeback through the second half of the US trading session as the currency retraced most, if not all, of its losses from the European trading session against the US dollar and Japanese yen

Written by Terri Belkas, Currency Strategist
The British pound and commodity dollars all face high event risk from rate decisions by the Bank of England and Reserve Bank of Australian, along with Canadian employment and business activity reports. The US dollar could also feel the impact of the ISM non-manufacturing index, but ultimately, risk trends remain [...]

- Euro Down as ECB Leaves Door Open to Further Rate Cuts - Swiss Franc Gain vs. Euro Presents SNB Intervention Risks Through Friday - British Pound Falls…

EURUSD – Euro Forecast to Decline Further on Shift in Forex Sentiment GBPUSD – British Pound Outlook Remains Bearish on Sharp Sentiment Shifts USDJPY –…

•US Dollar, Japanese Yen Gain as Drop in US Consumer Confidence Hurts Investor Sentiment •Euro, British Pound Lag as Data Indicates Economies Far From…