# Forex Major Currencies Outlook (Aug 31, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-31-2017/ Language: en Updated: 2017-08-31 Description: Explore Forex Major Currencies Outlook (Aug 31, 2017). USD The. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The dollar got a strong boost from a flurry of upbeat reports and talks of tax reform from Trump. The preliminary GDP report saw an upgrade to 3% versus the projected revision from 2.6% to 2.7% while the ADP non-farm employment change reading hinted at a potential upside NFP surprise. It has also been reported that Hurricane Harvey is weakening, easing concerns that it would reduce a huge part of the GDP for the quarter. The core PCE price index, along with the personal spending and income reports, are up for release next. **EUR** The euro gave up its recent gains to the dollar and pound as flash CPI readings were not as upbeat as expected. The German preliminary CPI indicated a meager 0.1% uptick while the Spanish flash CPI fell short at 1.6% versus 1.7%. German retail sales and unemployment change, as well as French preliminary CPI are due. The region’s flash CPI readings are on the docket also and these might generate a larger market reaction. **GBP** The pound was the best-performing currency of the day as traders lightened up on their short positions while Brexit jitters eased. Net lending to individuals turned out weaker than expected but mortgage approvals beat expectations. The GfK consumer confidence index is lined up next and a dip from -12 to -13 is eyed. **CHF** The franc gave up some of its risk-off wins as traders regained their appetite for higher-yielding currencies. The KOF economic barometer’s reading fell from 108.0 to 104.1 to indicate weakening conditions while the Credit Suisse economic expectations index dropped from 34.7 to 25.0. There are no reports due from the Swiss economy today. **JPY** The Japanese yen regained ground against its peers for the day after retail sales data beat expectations. The report printed a 1.9% year-over-year increase versus the projected 1.0% figure and still pretty close to the earlier 2.2% gain. Preliminary industrial production data is due next and a 0.4% drop is eyed. Housing starts data is also due and a 0.2% dip is expected. **Commodity Currencies (AUD, NZD, CAD)** The comdolls regained some ground against their peers but were unable to stay afloat against the recovering dollar and yen. Crude oil stockpiles were reduced by 5.4 million barrels versus the estimated reduction of 1.8 million barrels. The Canadian current account showed a larger deficit of 16.3 billion CAD ahead of the monthly GDP release today, which might show a meager 0.1% expansion. Chinese PMI readings and Australian private capital expenditure data are also due. *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-31-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-31-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-31-2017/", "headline": "Forex Major Currencies Outlook (Aug 31, 2017)", "inLanguage": "en", "datePublished": "2017-08-31T06:27:44+00:00", "dateModified": "2017-08-31T06:27:44+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Aug 31, 2017). USD The. 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