While the U.S. dollar traded slightly higher against most of its major peers, fluctuations have been unsteady – particularly for EUR/USD traders it has been a tough day, characterized by loss-making fake-outs rather than profitable break-outs.
The British Pound dropped below 1.56 after peaking at higher levels within its current resistance zone. U.K. Consumer Prices are scheduled for release today at 8:30 GMT. Economists forecast that consumer prices stagnated in July for a second month. The Inflation Data is of major importance and we expect high volatility.
Furthermore, U.S. Building Permits and Housing starts are scheduled for release at 12:30 GMT today.
We wish you a profitable trading day.
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