# Forex Major Currencies Outlook (August 29, 2014) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-august-29-2014/ Language: en Updated: 2014-08-29 Description: Explore Forex Major Currencies Outlook (August 29, 2014). USD The. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar consolidated to most of its major forex counterparts recently, although it did enjoy a bit of support when the US GDP was upgraded from 4.0% to 4.2%. Initial jobless claims came in at 298K, closely in line with estimates and the previous figure. Pending home sales also came in better than expected at 3.3% versus the estimated 0.6% gain while the previous month’s reading suffered a downgrade. Personal spending and income data are due today, along with the Chicago PMI and revised consumer sentiment figure. **EUR** The euro managed to hold its ground despite weaker than expected data from Germany. The euro zone’s largest economy showed a 2K increase in unemployment and a flat CPI reading while Spain’s flash CPI showed a 0.5% decline. Euro zone CPI estimates are due today and weak readings might lead to more selling for euro pairs, as it would convince most traders that further easing from the ECB is needed. **GBP** The pound also consolidated to most of its rivals in recent trading, despite the strong bounce in medium-tier data. The CBI realized sales report jumped from 21 to 37, outpacing the consensus at 27. This suggests that local demand remains sustained and that the UK might be in for an economic pickup sooner or later. Nationwide HPI and preliminary business investment data are due today and it could provide more clues on how the economy is doing. **CHF** The franc drew a bit of support from Switzerland’s improved jobs data, with the employment level climbing from 4.17M to 4.20M in the previous quarter. However, bleak reports from the euro zone prevented the currency from extending its gains. For today, the KOF economic barometer is due and it might show a dip from 98.1 to 97.9, indicating a slight downturn. A stronger than expected reading, however, could keep the franc supported. **JPY** The yen suffered a wave of bleak reports in today’s Asian trading session, with household spending posting a whopping 5.9% decline and the jobless rate climbing from 3.7% to 3.8%. The preliminary industrial production report also fell short of consensus as it marked a 0.2% uptick instead of the projected 1.2% gain while the previous month’s report was downgraded. Retail sales was stronger than expected with a 0.5% gain though. Data on housing starts is due and another weak figure could push the yen lower. **Commodity Currencies (AUD, NZD, CAD)** The comdolls were stuck in consolidation to the dollar recently as there were no major reports released. Australia’s private capital expenditure report showed a stronger than expected quarterly gain while Canada printed a bleak current account balance. New Zealand building consents marked a mere 0.1% uptick while business confidence declined. Later on, Canada will print its monthly GDP report and possibly print a 0.2% expansion. *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-august-29-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-august-29-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-august-29-2014/", "headline": "Forex Major Currencies Outlook (August 29, 2014)", "inLanguage": "en", "datePublished": "2014-08-29T12:18:36+00:00", "dateModified": "2014-08-29T12:18:36+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (August 29, 2014). USD The. 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