Overnight in Asia trading, the Australian Westpac Consumer Confidence Index came in worse than expected at 104.6. (Expectation: 106.2). AUD/USD had a brief slide down to it’s curent trading level of .7344.
EUR/USD has been stuck in a tight range between 1.1525 and 1.1550 as we enter the London trading session. Stiff support remains in this region and will likely take a deeper retracement higher before breaking through.
At 9:00 AM GMT, GDP will be released out of the United Kingdom with an expectation of an increase to 6.9% Y/Y (previous: 6.7% Y/Y). GBP/USD is currently testing recent highs around 1.3625 and should be acctive around the time of the release.
Core inflation data out of the United States will be released at 8:30 AM EST and the expectation is for the release to come in line with the previous figure of 5.3%.