Today is one of the most active days on the market, with publications of a large number of macroeconomic reports. The day began with the publication of the business confidence index in New Zealand, which in August fell to -52.3 points, the lowest in 11 years level. Therefore, the NZD's decline to the minimum level for four years is obvious. The Australian dollar was also under pressure because the volume of private investment in the second quarter decreased by 0.5%. while the opposite was expected - growth by 0.5%.
News from the EU was more optimistic. Published today, the data on unemployment in Germany, as well as the GDP of France, was fully consistent with forecasts. Therefore, the Euro is strengthening today and European stock indices are recovering to the values reached last week.
In the afternoon, the publication of data on the US economy is expected: updated data on the GDP in the second quarter, the balance of foreign trade, and the index of incomplete sales in the real estate market. Meanwhile, investors are increasingly wary of a recession in the US economy, and other risks that motivate them to choose safe assets. Therefore, there is a further rise in the price of the Yen, as well as gold, the price of which has already reached the level of 1550 dollars.
