# Forex Major Currencies Outlook (July 18, 2013) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-18-2013/ Language: en Updated: 2013-07-18 Description: Explore Forex Major Currencies Outlook (July 18, 2013). USD The US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar experienced a lot of volatility during the US session, as Ben Bernanke’s speech had a confusing impact on dollar pairs. At first, the transcript of his speech was interpreted by some market watchers to say that the Fed’s stimulus taper plan by the end of the year is still uncertain. However, when the press conference took place and Bernanke was able to clarify some remarks, the markets realized that the central bank is still on track to reduce bond purchases by Q4, as long as inflation and employment continue to improve. As for data, building permits and housing starts both disappointed. For today, initial jobless claims and the Philly Fed index are due. **EUR** The euro consolidated against the dollar for most of the day then encountered additional volatility during the New York session. In the euro zone, the Bank of Italy reduced its growth forecasts for the year, adding to selling pressure on the euro. Only the current account balance release and the Spanish bond auction are scheduled for the euro zone today. **GBP** The pound managed to score huge gains in yesterday’s trading sessions as the MPC vote turned out better than expected. Apparently, MPC members voted unanimously to keep interest rates and asset purchases unchanged, different from the expected 2-0-7 vote or the previous 3-0-6 vote. It appears that the improvements in the UK economy have convinced some dovish members to decide that the current level of monetary policy is appropriate. Claimant count change figures also came in better than expected and showed a larger decrease in claimants for June. UK retail sales are up for release today and a 0.2% uptick is expected. **CHF** The franc was unable to hold on to most of its gains against the dollar, as USD/CHF landed back above the .9400 handle. Swiss ZEW economic expectations improved from 2.2 to 4.8 but Bernanke’s speech had a bigger impact on the pair’s movement. For today, Swiss trade balance is up for release and it isn’t likely to have a strong effect on the franc’s direction. **JPY** The yen lost ground to its counterparts when the BOJ minutes revealed that policymakers are in disagreement when it comes to retaining long-term bond purchases as part of their stimulus efforts. For some, this is necessary in controlling volatility in Japanese markets but others cautioned that it could lead to a spike in borrowing costs later on. No other reports are due from Japan today. **Commodity Currencies (AUD, NZD, CAD)** The comdolls lost ground to the dollar in yesterday’s trading, as Bernanke confirmed that the Fed is still on track to reduce bond purchases. The Australian dollar got a heavier blow earlier today when the NAB quarterly business confidence figure sank from 2 to -1. As for Canada, the BOC kept monetary policy unchanged although Poloz did alter some of the lines in the previous statements. In addition, he adopted forward guidance by giving the markets some clues as to when they could start normalizing interest rates. 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-18-2013/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-18-2013/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-18-2013/", "headline": "Forex Major Currencies Outlook (July 18, 2013)", "inLanguage": "en", "datePublished": "2013-07-18T10:13:10+00:00", "dateModified": "2013-07-18T10:13:10+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (July 18, 2013). USD The US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-18-2013/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "Forex Major Currencies Outlook (July 18, 2013)", "item": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-18-2013/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```