The U.S. dollar was seen trading down on Tuesday. Fresh news about the U.S. slapping China with higher tariffs was met by China responding in the same. The markets were however to the reports.
Economic data on the day was sparse.
In New Zealand, the current account data showed that the deficit increased to 3.3% of the GDP for the quarter ending June. The deficit was higher than expected.
The Bank of Japan held the monetary policy meeting earlier today. As widely expected, the central bank left the interest rate and QE unchanged at today’s meeting. The markets are currently expecting the BoJ Governor Kuroda to speak during the press conference.
The European trading session starts off with the inflation report from the UK. Economists forecast inflation to rise 2.4% on the year in August. This marks a slight deceleration from the 2.5% increase seen the month before. Core CPI is expected to also ease to 1.8% in August from 1.9% previously.
The NY trading session will see the U.S. building permits and housing starts data. Investors will be keen to see if the slowdown in the pending and existing home sales affected the housing starts and building permits report.
