# Forex Major Currencies Outlook (July 22, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-22-2016/ Language: en Updated: 2016-07-22 Description: Explore Forex Major Currencies Outlook (July 22, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar gave up a bit of ground against its forex peers when risk appetite improved after the ECB statement. Still, the Greenback managed to rake in some gains against the Loonie. The Philly Fed index missed expectations as it fell from 4.7 to -2.9 instead of improving to 5.1 while initial jobless claims, existing home sales, and the CB leading index beat expectations. The US flash manufacturing PMI is due today and a rise from 51.3 to 51.9 is eyed. **EUR** The euro encountered additional volatility during the ECB decision but managed to stay afloat when the central bank refrained from adding stimulus. Draghi was less downbeat than usual as he assured that the region can weather the Brexit and that they’d need additional information before deciding to ease further. Flash PMI readings from France and Germany are up for release today and strong readings could keep the euro afloat. **GBP** UK retail sales missed expectations by showing a 0.9% drop versus the estimated 0.4% slide in consumer spending. Still, the pound tried to put up a fight against its peers as the UK government showed progress in moving towards Brexit negotiations. UK manufacturing PMI is up for release today and a tumble from 52.1 to 47.8 is eyed. **CHF** The franc was acting mostly as a counter currency recently but managed to draw a bit of support when the ECB refrained from easing. After all, this means that the SNB won’t need to intervene in the forex market for now to keep EURCHF above its target levels. Swiss trade balance also beat expectations at 3.35 billion CHF. There are no reports due from the Swiss economy today. **JPY** The yen regained a lot of ground towards the end of yesterday’s Asian session when BOJ Governor Kuroda confirmed that they’re not likely to increase stimulus just yet. Data from Japan came in line with expectations yesterday as the all industries activity index had a 1.0% drop while today’s flash manufacturing PMI release came in stronger than expected at 49.0. **Commodity Currencies (AUD, NZD, CAD)** The comdolls were mostly weaker against their peers as the likelihood of easing increased for the RBA and RBNZ. Crude oil prices continued to slide and drag the positively-correlated Loonie with it in the process. Canadian CPI and retail sales figures are due today, with analysts expecting to see weaker inflation and consumer spending data. *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-22-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-22-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-22-2016/", "headline": "Forex Major Currencies Outlook (July 22, 2016)", "inLanguage": "en", "datePublished": "2016-07-22T08:55:30+00:00", "dateModified": "2016-07-22T08:55:30+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (July 22, 2016). USDThe US. 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