# Forex Major Currencies Outlook (Aug 16, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-16-2017/ Language: en Updated: 2017-08-16 Description: Explore Forex Major Currencies Outlook (Aug 16, 2017). USD The US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar got a bit of a boost from stronger than expected July retail sales figures, along with positive revisions for the June report. The Empire State manufacturing index also posted a strong rise from 9.8 to 25.2, higher than the projected 10.1 figure. Import prices posted the projected 0.1% uptick. US building permits and housing starts are due today, but the FOMC minutes could have a bigger impact on the dollar. Cautious remarks downplaying the odds of a September hike could be dollar bearish and traders are also anticipating more details on the balance sheet runoff. **EUR** The euro took a few hits in recent trading as the only piece of data turned out below expectations. Germany reported a 0.6% GDP reading for Q2 versus the projected 0.7% expansion. The region’s flash GDP is due today and a 0.6% reading is eyed, with weaker than expected results likely to weigh on ECB tapering expectations. **GBP** The pound continued to slump against its peers upon seeing weaker than expected CPI. The headline reading was unchanged at 2.6% instead of rising to the estimated 2.7% figure while the core figure also held steady at 2.4%. Jobs data is due next and the claimant count could come in at 3.2K, lower than the earlier 5.9K rise in joblessness. The average earnings index is projected to hold steady at 1.8%. **CHF** The franc continued to lose ground as risk appetite improved in the markets on easing concerns about North Korea. Swiss PPI posted a flat reading as expected and there are no major reports due from Switzerland today, leaving market sentiment in charge of franc movements. **JPY** The yen was also on the back foot as improvements in risk appetite forced the lower-yielding currency to retreat. Japan’s industrial production reading was upgraded from 1.6% to 2.2% instead of staying unchanged as expected. There are no reports due from the Japanese economy today. **Commodity Currencies (AUD, NZD, CAD)** The Kiwi took a hit from the GDT auction which yielded a 0.4% drop in dairy prices. In Australia, new motor vehicle sales slipped by 2.0% while the wage price index posted another 0.5% gain for Q2 as expected. The API reported another larger than expected draw in crude oil stockpiles while the EIA is expected to print a reduction of 3 million barrels. New Zealand has its quarterly PPI report lined up as well. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-16-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-16-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-16-2017/", "headline": "Forex Major Currencies Outlook (Aug 16, 2017)", "inLanguage": "en", "datePublished": "2017-08-16T07:00:33+00:00", "dateModified": "2017-08-16T07:00:33+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Aug 16, 2017). 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