# Forex Major Currencies Outlook (July 12, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-12-2016/ Language: en Updated: 2016-07-12 Description: Explore Forex Major Currencies Outlook (July 12, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar regained some ground against its peers when traders dumped their yen holdings in search of other safe-havens. The US labor market conditions index showed an improvement and FOMC member George acknowledged the strong rebound in June hiring during her testimony. More FOMC members have speeches later today and the US JOLTS job openings report is up for release. **EUR** The euro regained ground as sentiment improved in the European region. Data was actually weaker than expected as Italian industrial production shrank by 0.6% instead of showing the projected 0.1% uptick. German final CPI and WPI are up for release today. **GBP** The pound staged a strong rally as David Cameron will be tendering his resignation on Wednesday to make room for new PM Theresa May after rival Andrea Leadsom withdrew from the race. There were no reports out of the UK economy yesterday while today has a speech by BOE Governor Carney who might set the tone for the upcoming BOE statement. **CHF** The franc lost ground to its forex peers despite the lack of top-tier data from Switzerland. There are still no reports due from the Swiss economy today so the franc could continue to take its cue from market sentiment and European region updates. **JPY** The yen lost a lot of ground when Japanese PM Shinzo Abe ordered the preparation of an economic stimulus package. This led traders to speculate that the BOJ might also be pushed to increase easing now that Abe’s political party has secured the majority of the Upper House seats and could carry on with “Abenomics.” Japan’s PPI showed a sharper than expected 4.2% drop in produce prices and the tertiary industry activity report is due next. **Commodity Currencies (AUD, NZD, CAD)** The comdolls took advantage of the yen selloff but were slightly weaker to the dollar. Canadian housing starts beat expectations at 218K versus 192K while Australia’s NAB business confidence index improved from 3 to 6. There are no other reports due from the comdoll economies for the rest of the day. *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-july-12-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-12-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-12-2016/", "headline": "Forex Major Currencies Outlook (July 12, 2016)", "inLanguage": "en", "datePublished": "2016-07-12T06:32:51+00:00", "dateModified": "2016-07-12T06:32:51+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (July 12, 2016). USDThe US. 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