The U.S. dollar index was seen trading flat on Monday with the technical pattern confirming a doji close. A bearish follow through from here on could signal a near-term correction. Economic data for the day was sparse. Still, the Turkish lira continued to plunge dragging down the euro currency rather briefly.
Economic data today will start with the release of the second revised GDP estimates for Germany. Forecasts point to no change as the German GDP growth is expected to be confirmed at 0.4%. The final inflation figures are also due which is forecast to rise 0.3% as per the flash estimates.
In the UK, the average earnings index is expected to rise 2.5% in the three months to July. The UK’s unemployment rate is expected to remain unchanged at 4.2%.
The Eurozone flash GDP estimates marking the second revision is forecast to confirm that the eurozone economy advanced 0.3% in the second quarter.
