The dollar retreated against some currencies, but remained stronger than the euro, which reached news historic lows against many currencies. Will the euro continue taking a different path than other risk currencies? German Ifo Business Climate, US housing data, and GDP figures are the main market movers this week. Here is an outlook on the major events for the coming week.
Last week, Ben Bernanke did not offer any clues for a possible QE package in the near future, despite weak US data and his acknowledgement that the economic recovery was “fragile”. More sluggish US figures were the unexpected drop of 0.5% in Retail sales and 0.4% decline in Core sales during June, defying predictions of growth and a lower than expected improvement in Philly Fed Manufacturing Index reaching -12.9 in July, while predicted a better release of -7.9. Will we see a change in view of the Federal Reserve concerning more QE measures?
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/forex-weekly-outlook-july-23-27/"]Forex Weekly Outlook July 23-27[/URL][/I][/B]
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