UK monthly GDP on the agenda for today

<p>And so the dollar looks to have finally broke after the US CPI data yesterday <a href="https://www.forexlive.com/news/us-june-cpi-yy-30-versus-31-expected-20230712/" target="_blank" rel="follow">here</a>. The inflation numbers were softer than estimated and that allowed for a further run against the dollar, which looks to be on its next leg lower now.</p><p>I'll get to the charts later in the session but here's the general overview.</p><ul><li>EUR/USD breaks above April to May highs to highest levels since March 2022, eyes 200-week moving average at 1.1181 as well as the 1.1200 handle next</li><li>USD/JPY extends fall below 140.00 as the climb down continues, sellers taking a look at the 100 and 200-day moving averages at 136.97-10 next</li><li>GBP/USD tests waters above 1.3000 currently, hoping for an extended upside break above the figure level with little in terms of key resistance after</li><li>USD/CHF tumbles to its lowest since January 2015 after a break below its 2021 lows under 0.8800 and there is not much technical support on the charts now</li><li>AUD/USD solidifies break above key resistance from its 100 and 200-day moving averages, looks to chase a move back towards the June high near 0.6900 again</li><li>NZD/USD clears its own June high in push back above 0.6300, buyers eyeing the key resistance region around 0.6379-89 next – which stopped the April and May climbs</li></ul><p>The technicals and risk mood suggest that we are due a continuation of the moves from yesterday. And there is little on the agenda in Europe to really distract from that. But coming up later, we do have US PPI figures and the weekly jobless claims to deal with though. Not to mention, Fed policymakers still only have today and tomorrow to say anything before the blackout period begins.</p><p>0600 GMT – UK May monthly GDP figures0645 GMT – France June final CPI figures0900 GMT – Eurozone May industrial production</p><p>That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.</p>

This article was written by Justin Low at www.forexlive.com.