Idea of the Day Things are very thin on the ground today in terms of economic data and in fact this week continues in a similar vein. With a limited move from FX markets overnight things just look to be tainted with a touch of risk aversion this morning. So in the absence of any big market movers on the agenda it could be prudent to keep an eye on the key levels today ahead of what is most likely to be the highlight of the week which comes in the form of the FOMC minutes on Wednesday. The markets continue to focus heavily on when the Federal Reserve might commence tapering its quantitative easing program and are even looking as far ahead as who will take over from Ben Bernanke when he steps down in January of next year. Data/Event Risks EUR: Final inflation data should show the headline rate steady at 1.6%, which would be the sixth consecutive month inflation was below the ECB’s 2% threshold. USD: Michigan confidence data does have a habit of upsetting things on a quite Friday afternoon if way out of line vs. expectations. The market expects a modest rise to 85.3 (from 85.1), but stronger data could push the dollar higher into the weekend. JPN: Note that trade data is released on Monday and the focus will be on signs that the weaker yen of the past 8 months is starting to feed through into better trade numbers (small deficit, or possibly surplus). Short-term trends suggest this is slowly happening. Move into surplus would give the yen some further modest support. Latest FX News JPY: Japanese trade balance data overnight recorded its biggest ever deficit on record for the month of July as the weaker Yen kept exports high, but imports rocketed as demand for fuel increased during the summer months. GBP: UK house prices look to have come off the boil month on month, as reported by the website Rightmove, which isn’t unexpected during the summer months. House prices in the UK still remain buoyant following the commitment from the BOE’s Mark Carney that he’ll keep base rates at 0.5% until unemployment falls to 7%. Further reading: Merkel sees no new debt haircut for Greece – oh well US Consumer Sentiment falls to 80 FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Forex News Today: Daily Trading News share Read Next Euro strength – how long will it last? Ronnie Chopra 9 years Idea of the Day Things are very thin on the ground today in terms of economic data and in fact this week continues in a similar vein. With a limited move from FX markets overnight things just look to be tainted with a touch of risk aversion this morning. So in the absence of any big market movers on the agenda it could be prudent to keep an eye on the key levels today ahead of what is most likely to be the highlight of the week which comes in the form of the FOMC minutes on Wednesday. The markets… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.