A day of great amount of economic data in the main financial center is giving rhythm to the currency market since the beginning of the European session with strong prospects for major moves during the American one.
The UK GDP fell by 0.4%, which is a tenth better than expected, although, such dissapointing news supported the sterling strength in this hour, and technically generated a bankrupt line of short-term downtrend against the dollar.
In its turn, the data on durable goods from the USA demonstrated a sharp drop of 1.6%. GDP, meanwhile, fell to 1.3%, which is already somewhat diluted because it is a second and final revision.
However, the Dow Jones index futures begin to recover and follow the trend leaders.
The euro zone did not leave a slight lateralization which is demonstrating the twists and turns and outrages of European politicians.
The pound is growing, while the recovery is strong within the Australian dollar, which is approaching a crucial 1.0435, confluence one trend line and another bullish in 4 hours charts. Passing both of them opens the way to the Aussie for 1.0480 in the coming hours.
The strong oil recovery from these hours (nearly $2 per barrel WTI), was short-term to give strength to the Canadian dollar without moving too far from their highs of two weeks ago. The Mexican peso rate is upward, seeking support at 12.80 which it could reach even early in the U.S. session.
Still remains to be published the figure of pending home sales in the United States at 10:00 Eastern, the last report of the day.
Everything given by the pairs is determined by the dollar and the Dow Jones futures, and it is not the best for the dollar today. After several days of downtrends the same currency rivals take air.