Greece's Finance Ministry released its revenues data on Thursday. The Greek budget revenues dropped 40% below target in July.

Greece's primary budget surplus was €3.53 billion in the first seven months of 2015, higher than a primary budget surplus target of €2.98 billion.

Tax revenues totalled €26.7 billion, below a target of €30.8 billion. Public spending totalled €27.7 billion, below a target of €32.1 billion.

The European Central Bank's (ECB) its minutes of July meeting on Thursday. According to the minutes, financial developments in China could have a larger than expected adverse impact.

"In particular, financial developments in China could have a larger than expected adverse impact, given this country's prominent role in global trade. This risk could be compounded by negative knock-on effects from interest rate increases in the United States on growth in emerging market economies," the ECB said.

The central bank noted that the economic recovery in the Eurozone remained moderate and gradual.

The ECB pointed out that a deal on a Greek bailout programme will firm confidence in the Eurozone.

The U.S. Commerce Department released the business inventories data on Thursday. The U.S. business inventories rose 0.8% in June, exceeding expectations for a 0.3% increase, after a 0.3% gain in May.

The increase was driven by a rise in in all categories. Wholesale inventories climbed 0.9% in June, retail inventories were up 0.9%, while manufacturing inventories rose 0.6%.

Business sales climbed 0.2% in June, while retail sales declined 0.1%.

The business inventories/sales ratio increased to 1.37 in June from 1.36 months in May. The business inventories /sales ratio is a measure of how long it would take to clear shelves.

EUR/USD: $1.1000(E501mn), $1.1065(E626mn)

USD/JPY: Y124.00($1.41bn), Y124.50($1.11bn)

GBP/USD: $1.5500(Gbp307), $1.5625(Gbp102mn)

AUD/USD: $0.7300(A$101mn)

NZD/USD: $0.6625(NZ$329mn)

USD/CAD: C$1.3025($500mn)

The Hellenic Statistical Authority released its gross domestic product (GDP) data for Greece on Thursday. The Greek final GDP rose 0.8% in the second quarter, after a revised flat reading in the first quarter.

On a yearly basis, Greek final GDP rose 1.5% in the second quarter, after a 0.2% increase in the first quarter.

The U.S. Commerce Department released the retail sales data on Thursday. The U.S. retail sales climbed 0.6% in July, exceeding expectations for a 0.5% increase, after a flat reading in June. June's figure was revised up from a 0.3% drop.

The increase was partly driven by higher automobiles purchases. Automobiles sales rose 1.4% in July.

Retail sales excluding automobiles increased 0.4% in July, in line with forecasts, after a 0.4% gain in June. June's figure was revised up from a 0.1% decrease.

Sales at building material and garden equipment stores climbed 0.7% in July and sales at furniture stores increased 0.8%.

Sales at electronics and appliance outlets declined 1.2% in July, while sales at clothing retailers were up 0.4%.

These figures could add to speculation on that the Fed starts raising its interest rate next month.

The U.S. Labor Department released its jobless claims figures on Thursday. The number of initial jobless claims in the week ending August 08 in the U.S. rose by 5,000 to 274,000 from 269,000 in the previous week. The previous week's figure was revised down from 270,000.

Analysts had expected the number of initial jobless claims to be 270,000.

Jobless claims remained below 300,000 the 23th straight week. This threshold is associated with the strengthening of the labour market.

The four-week moving average of initial jobless claims declined by 1,750 to 266,250 last week. It was the lowest level since April 2000.

Continuing jobless claims increased by 15,000 to 2,273,000 in the week ended August 01.

Statistics Canada released its new housing price index on Thursday. New housing price index in Canada rose 0.3% in June, exceeding expectations of a 0.1% gain, after a 0.2% rise in May. It was the biggest monthly rise since August 2014.

The increase was driven by gains in Toronto.

On a yearly basis, new housing price index in Canada climbed 1.3% in June, after a 1.2% gain in May.

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

06:00 Germany CPI, m/m (Finally) July -0.1% 0.2% 0.2%

06:00 Germany CPI, y/y (Finally) July 0.3% 0.2% 0.2%

06:45 France CPI, m/m July -0.1% -0.4%

06:45 France CPI, y/y July 0.3% 0.2%

07:15 Switzerland Producer & Import Prices, m/m July -0.1% -0.3%

07:15 Switzerland Producer & Import Prices, y/y July -6.1% -6.4%

11:30 Eurozone ECB Monetary Policy Meeting Accounts

The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. retail sales data. The U.S. retail sales are expected to rise 0.5% in July, after a 0.3% decline in June.

Retail sales excluding automobiles are expected to climb 0.4% in July, after a 0.1% decrease in June.

The number of initial jobless claims in the U.S. is expected to remain unchanged at 270,000.

The yuan devaluation weighed on the greenback. The People's Bank of China (PBoC) has devaluated the yuan for the third day. But the central bank tried to reassure market participants on Thursday, saying there was no basis for further yuan devaluation.

The yuan depreciated 1.9% on Tuesday, 1.6% on Wednesday and 1.1% today. China's central bank set Thursday's daily fixing at 6.4010 per U.S. dollar, down from 6.3306 on Wednesday.

The euro traded lower against the U.S. dollar after the release of the weak economic data from the Eurozone. German final consumer price index rose 0.2% in July, in line with the preliminary estimate, after a 0.1% decline in June.

On a yearly basis, German final consumer price index decreased to 0.2% in July from 0.3% in June, in line with the preliminary estimate. It was the lowest level since February.

The decline was driven by falling energy prices, which dropped 6.2% year-on-year in July.

The French consumer price inflation dropped 0.4% in July, after a 0.1% decrease in June.

On a yearly basis, the consumer price index climbed 0.2% in July, after a 0.3% rise in June.

The European Central Bank's (ECB) its minutes of July meeting on Thursday. According to the minutes, financial developments in China could have a larger than expected adverse impact.

The British pound traded higher against the U.S. dollar in the absence of any major economic reports from the U.K.

The Canadian dollar traded lower against the U.S. dollar ahead of Canadian housing market data. Canada's new housing price index is expected to rise 0.1% in June, after a 0.2% gain in May.

The Swiss franc traded mixed against the U.S. dollar after the economic data from Switzerland. Switzerland's producer and import prices fell 0.3% in July, after a 0.1% drop in June.

The decline was driven by lower prices for petrol and petroleum products, watches and electronic components and circuit boards.

The Import Price Index decreased by 0.3% in July, while producer prices fell 0.2%.

On a yearly basis, producer and import prices plunged 6.4% in July, after a 6.1% drop in June.

The Import Price Index fell by 10.5% year-on year in July, while producer prices dropped 4.5%.

EUR/USD: the currency pair declined to $1.1099

GBP/USD: the currency pair increased to $1.5636

USD/JPY: the currency pair fell to Y124.38

The most important news that are expected (GMT0):

12:30 Canada New Housing Price Index, MoM June 0.2% 0.1%

12:30 U.S. Initial Jobless Claims August 270 270

12:30 U.S. Retail sales July -0.3% 0.5%

12:30 U.S. Retail sales excluding auto August -0.1% 0.4%

14:00 U.S. Business inventories June 0.3% 0.3%

22:45 New Zealand Retail Sales YoY Quarter II 7.4% 5.2%

22:45 New Zealand Retail Sales, q/q Quarter II 2.7% 0.5%

EUR/USD

Offers 1.1150 1.1180 1.1200 1.2220 1.1245

Bids 1.1100 1.1085 1.1050 1.1020 1.1000 1.0985 1.0965 1.0950 1.0900

GBP/USD

Offers 1.5650 1.5680 1.5700-10 1.5730 1.5750

Bids 1.5600 1.5580 1.5550 1.5525 -30 1.5500 1.5485 1.5465 1.5450

EUR/GBP

Offers 0.7130-35 0.7150-55 0.7180-85 0.7200 0.7230 0.7250

Bids 0.7110 0.7090 0.7075 0.7050 0.7030-35 0.7020 0.7000

EUR/JPY

Offers 138.80 139.00 139.30 139.50 139.75 140.00

Bids 138.30 138.00 137.80 137.60 137.45 137.25 137.00

USD/JPY

Offers 124.65 124.80 125.00 125.20-25 125.50 125.75 126.00

Bids 124.25 124.00 123.75-80 1 123.45-50 123.25-30 123.00

AUD/USD

Offers 0.7365 0.7380 0.7400-05 0.7425 0.7450

Bids 0.7335-40 0.7320 0.7300 0.7285 0.7260 0.7300 0.7280 0.7250

The Spanish statistical office INE released its final consumer price inflation data on Thursday. Final consumer price inflation in Spain was down 0.9% in July, up from the preliminary estimate of a 1.0% decline, after a 0.3% gain in June. It was the first drop in six months.

On a yearly basis, final consumer prices remained unchanged at 0.1% in July, up from the preliminary estimate of a flat reading.

The Federal Statistical Office released its producer and import prices data on Thursday. Switzerland's producer and import prices fell 0.3% in July, after a 0.1% drop in June.

The decline was driven by lower prices for petrol and petroleum products, watches and electronic components and circuit boards.

The Import Price Index decreased by 0.3% in July, while producer prices fell 0.2%.

On a yearly basis, producer and import prices plunged 6.4% in July, after a 6.1% drop in June.

The Import Price Index fell by 10.5% year-on year in July, while producer prices dropped 4.5%.

EUR/USD: $1.1000(E501mn), $1.1065(E626mn)

USD/JPY: Y124.00($1.41bn), Y124.50($1.11bn)

GBP/USD: $1.5500(Gbp307), $1.5625(Gbp102mn)

AUD/USD: $0.7300(A$101mn)

NZD/USD: $0.6625(NZ$329mn)

USD/CAD: C$1.3025($500mn)

The French statistical office Insee released its consumer price inflation for France on Thursday. The French consumer price inflation dropped 0.4% in July, after a 0.1% decrease in June.

On a yearly basis, the consumer price index climbed 0.2% in July, after a 0.3% rise in June.

Fresh food prices rose 4.6% year-on-year in July, while petroleum products prices dropped by 9.2%.

Destatis released its final consumer price data for Germany on Thursday. German final consumer price index rose 0.2% in July, in line with the preliminary estimate, after a 0.1% decline in June.

On a yearly basis, German final consumer price index decreased to 0.2% in July from 0.3% in June, in line with the preliminary estimate. It was the lowest level since February.

The decline was driven by falling energy prices, which dropped 6.2% year-on-year in July.

Food prices climbed 0.4% year-on-year in July.

The Royal Institution of Chartered Surveyors' (RICS) released its house price data on late Wednesday evening. The monthly house price balance increased to +44% in July from +40% in June, exceeding expectations for a gain to +42%.

The increase was driven by a shortage of properties.

"More worrying still is the suspicion that the imbalance between supply and demand will lead to even stronger price gains over the next 12 months," RICS Chief Economist, Simon Rubinsohn, said.

The U.S. Treasury Department released its federal budget data on Wednesday. The budget deficit increased to $149.2 billion in July, down from a deficit of $94.6 billion in July 2014.

The budget deficit rose as the U.S. government paid out $42 billion in August benefits in July.

In the first 10 months of the fiscal year 2015, which ends at September this year, the budget deficit totalled $465.5 billion, 1.1% higher than a year ago.

EU officials said that the Greek economy is expected to shrink 2.3% this year and 1.3% next year. The country's economy is expected to expand 2.7% in 2017 and 3.1% in 2018.

Under a new reform program, the primary budget targets are a primary deficit of 0.25% of gross domestic product in 2015, a 0.5% surplus in 2016, a 1.75% surplus in 2017 and a 3.5% surplus in 2018.

The People's Bank of China (PBoC) has devaluated the yuan for the third day. The PBoC has defended its decision to devaluate the yuan.

The yuan depreciated 1.9% on Tuesday, 1.6% on Wednesday and 1.1% today. China's central bank set Thursday's daily fixing at 6.4010 per U.S. dollar, down from 6.3306 on Wednesday.

The PBoC said on Tuesday that it was a "one-off depreciation".

The central bank tried to reassure market participants on Thursday, saying there was no basis for further yuan devaluation.

A weaker yuan could lead to capital outflows from China. The PBoC Governor Yi Gang said that the central bank will ensure "orderly" cross-border capital flows, adding that capital inflows and outflows were "basically balanced."

China wants to open the country's foreign-exchange markets to foreign institutions and to extend foreign-exchange trading hours. The yuan traded at a big discount in Hong Kong.

EUR / USD

Resistance levels (open interest**, contracts)07

$1.1229 (4521)

$1.1206 (1579)

$1.1192 (1601)

Price at time of writing this review: $1.1135

Support levels (open interest**, contracts):

$1.1107 (1601)

$1.1088 (1557)

$1.1066 (2283)

Comments:

- Overall open interest on the CALL options with the expiration date September, 4 is 83636 contracts, with the maximum number of contracts with strike price $1,1300 (6370);

- Overall open interest on the PUT options with the expiration date September, 4 is 116147 contracts, with the maximum number of contracts with strike price $1,0500 (7881);

- The ratio of PUT/CALL was 1.39 versus 1.39 from the previous trading day according to data from August, 12

GBP/USD

Resistance levels (open interest**, contracts)

$1.5902 (2038)

$1.5804 (1893)

$1.5707 (1917)

Price at time of writing this review: $1.5628

Support levels (open interest**, contracts):

$1.5590 (919)

$1.5494 (2130)

$1.5396 (1725)

Comments:

- Overall open interest on the CALL options with the expiration date September, 4 is 26877 contracts, with the maximum number of contracts with strike price $1,5600 (2812);

- Overall open interest on the PUT options with the expiration date September, 4 is 33190 contracts, with the maximum number of contracts with strike price $1,5450 (2369);

- The ratio of PUT/CALL was 1.23 versus 1.25 from the previous trading day according to data from August, 12

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

Economic calendar (GMT0):

Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

06:00 Germany CPI, m/m (Finally) July -0.1% 0.2% 0.2%

06:00 Germany CPI, y/y (Finally) July 0.3% 0.2% 0.2%

The euro fluctuated only slightly against the U.S. dollar despite further 1.1% devaluation of the yuan. Markets calmed down and such actions are now considered a part of currency reforms in the country before Chinese president visits the U.S. in September. It's worth noting that the yuan trades with a significant discount in Hong Kong compared to mainland China reflecting investors' pessimism about China's economy.

The yen fell against the greenback amid core machinery orders data (-7.9% m/m in June vs -5.6% expected). A report on new orders reflects general volume of machinery orders placed in big Japanese companies. A negative reading suggests slower growth.

EUR/USD: the pair fluctuated around $1.1155 in Asian trade

USD/JPY: the pair rose to Y125.45

GBP/USD: the pair traded within $1.5605-35

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

06:45 France CPI, m/m July -0.1%

06:45 France CPI, y/y July 0.3%

07:15 Switzerland Producer & Import Prices, m/m July -0.1%

07:15 Switzerland Producer & Import Prices, y/y July -6.1%

11:30 Eurozone ECB Monetary Policy Meeting Accounts

12:30 Canada New Housing Price Index, MoM June 0.2% 0.1%

12:30 U.S. Initial Jobless Claims August 270 270

12:30 U.S. Continuing Jobless Claims August 2255 2247

12:30 U.S. Retail sales July -0.3% 0.5%

12:30 U.S. Retail sales excluding auto August -0.1% 0.4%

14:00 U.S. Business inventories June 0.3% 0.3%

22:45 New Zealand Retail Sales YoY Quarter II 7.4% 5.2%

22:45 New Zealand Retail Sales, q/q Quarter II 2.7% 0.5%

(pare/closed(GMT +3)/change, %)

EUR/USD $1,1157 +1,03%

GBP/USD $1,5615 +0,26%

USD/CHF Chf0,9751 -1,32%

USD/JPY Y124,19 -0,74%

EUR/JPY Y138,55 +0,30%

GBP/JPY Y193,91 -0,47%

AUD/USD $0,7381 +1,04%

NZD/USD $0,6615 +1,15%

USD/CAD C$1,2975 -1,06%