The market is quite. The major pairs showed a further side correction during which the dollar slightly fell against the euro and the pound and also got slightly stronger to the yen. The State's economy supported the dollar, still it had a minimal impact on the market. Clearly, the investors are waiting for the stronger drivers that may appear from the United States labor data this week.
There was a more strong States economic recovery in the 2nd quarter - the GDP growth was revised from + 4.2% q/q, instead of the reducing to 3.8% q/q, while the previous calculations showed to + 3.9% q/q, the secondary housing market sales signed contracts number in July rose more than expected, showing +3.3% m/m, with expectations to see +0.6% m/m, and the initial claims number fell to 298 thousand last week, while the forecast expected about 300 thousand.
We expect the U.S. July costs and incomes data and the Chicago activity reports. The demand indicators, which are ranked as costs and incomes are forecasted to be expected with a continued +0.2% m/m and +0.3% m/m growth respectively, which indicates the stable consumer activity, and the August Chicago PMI index with the rise to 56.3 from 52.6 previously. These results are the positive indicators for the dollar and can support it.