# Forex Major Currencies Outlook (Jun 29, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-jun-29-2017/ Language: en Updated: 2017-06-29 Description: Explore Forex Major Currencies Outlook (Jun 29, 2017). USD The. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The dollar gave up more ground to its counterparts as pending home sales turned out weaker than expected. The report printed a 0.8% decline versus the estimated 0.9% increase while the earlier figure was downgraded to show a 1.7% slide. Initial jobless claims and the final GDP reading are due next, although these aren’t expected to have a huge impact on the dollar unless there are big surprises. **EUR** The euro enjoyed a strong boost after Draghi gave hawkish hints but the gains were erased when policymaker Constancio clarified that inflationary pressures are still weak and that stimulus is needed to prop up price levels. Many also cautioned that markets may have misinterpreted Draghi’s remarks. German and Spanish preliminary CPI readings are still lined up and strong readings could revive the shared currency. **GBP** The pound staged a rally late in the day as BOE head Carney sounded hawkish himself. This is in contrast to his earlier dovish tone as he signaled that further gains in inflation could make a rate hike necessary. UK mortgage approvals and net lending to individuals figures are up for release next, but traders could also pay close attention to the vote on the Queen’s Speech. **CHF** The franc continued to advance against most of its peers as sentiment improved in Europe. Swiss data turned out mixed, with the UBS consumption indicator up from 1.34 to 1.39 and the Credit Suisse Economic Expectations Index down from 30.8 to 20.7. There are no reports due from the Swiss economy today so market sentiment could push franc pairs around. **JPY** The yen was still losing ground to its counterparts as BOJ head Kuroda expressed hesitation to tighten or reduce bond purchases. Japan’s retail sales report is due next and a lower read of 2.6% is eyed, compared to the earlier 3.2% gain. Traders could also price in expectations ahead of the inflation reports due at the end of this week. **Commodity Currencies (AUD, NZD, CAD)** The Loonie led the pack as it shrugged of the surprise buildup in EIA crude oil stockpiles. The increase of 0.1 million barrels was still lower than the 0.8 million barrels reported by the API so bulls came into play. BOC Governor Poloz also reiterated their relatively upbeat stance, signaling that they’re done cutting rates. Australia’s HIA new home sales is due next and New Zealand will report its ANZ business confidence index. *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-jun-29-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-jun-29-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-jun-29-2017/", "headline": "Forex Major Currencies Outlook (Jun 29, 2017)", "inLanguage": "en", "datePublished": "2017-06-29T07:51:12+00:00", "dateModified": "2017-06-29T07:51:12+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Jun 29, 2017). USD The. 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