European session: dollar consolidates

Data

01:30 Australia RBA Meeting's Minutes

01:30 Australia New Motor Vehicle Sales (MoM) June +2.4% -0.6%

01:30 Australia New Motor Vehicle Sales (YoY) June +22.4% +18.4%

08:30 United Kingdom HICP, m/m June -0.1% -0.1% -0.4%

08:30 United Kingdom HICP, Y/Y June +2.8% +2.7% +2.4%

08:30 United Kingdom HICP ex EFAT, Y/Y June +2.2% +2.3% +2.1%

08:30 United Kingdom Retail Price Index, m/m June 0.0% 0.0% 0.0%

08:30 United Kingdom Retail prices, Y/Y June +3.1% +3.0% +2.8%

08:30 United Kingdom RPI-X, Y/Y June +3.1% +3.1% +2.8%

09:00 United Kingdom BOE Gov King Speaks -

09:00 Germany ZEW Survey - Economic Sentiment July -16.9 -14.5 -19.6

09:00 Eurozone ZEW Economic Sentiment July -20.1 -18.3 -22.3

09:30 United Kingdom BOE Inflation Letter July

During the session, the dollar declines against the euro amid speculation that Federal Reserve Chairman Ben Bernanke will hint at an additional stimulus in his speech, which will be held today. Bernanke will deliver a semi-annual report on the economy and monetary policy. The U.S. currency fell against most major fall after retail sales unexpectedly yesterday. Also negative for the dollar has added the statement made by the Federal Reserve of Kansas City Esther George, who said that the U.S. economy probably will not grow much faster than 2% this year.

Recall that Bernanke's policies after the last Fed meeting, which took place on June 20 said: "If we do not see a further improvement in the labor market, we are ready to take additional measures if necessary. Additional asset purchases will be among the measures that we will certainly

The euro showed growth against the euro during the session, but declined after weak data out of sentiment index in the business environment of the institute ZEW, which fell to -19.6 in July to -16.9 in June.

The yen declined during the session against the dollar, after three days of growth. This was due to the fact that the Minister of Finance of Japan, Azumi said that foreign exchange earnings were "speculative" and officials are ready to take decisive action if we must.

Australian dollar during the session, trading in narrow range after significant growth in the early afternoon, which was caused by the publication of minutes of meetings of the Reserve Bank of Australia