Weak data on new home sales have caused a sharp decline in the U.S. currency. As shown by the U.S. Census Bureau, by the end of July home sales in the primary market in the U.S. were at the level of 394 thousand units annualized seasonally adjusted. The figure is well below the average forecast of analysts, which was at the level of 492 thousand value for June was revised to 455 thousand from 497 thousand

Given the revised data, housing sales in the primary market in the U.S. declined in May and July, and showed only a small increase in April and June. Despite the downward revision, sales are still 6.0% higher than the same period last year.

The pace of sales fell in all four regions of the country, with double-digit declines were observed in the Southern and Western regions.

The supply of new homes rose 4.3% to 171 thousand, which corresponds to stock up sales of 5.2 months. Last month the figure was at 4.3 months. Growth stocks and a drop in sales indicates a significant fall in demand in the market.

The euro also provided data on consumer confidence in the eurozone. The consumer confidence index in August rose to -15.6 from -17.4 - up to the highest level since July 2011, exceeding economists' expectations at 16.5. The index continues to grow for nine months.

Also today, the published data on the GDP of Germany, which came in line with expectations. The German economy is bad starting the year in the 2nd quarter, rebounded sharply thanks to increased investment and revitalization of consumption. This is evidenced by the data presented in the Bureau of Statistics on Friday. GDP in the 2nd quarter, up 0.7% compared to the previous quarter, a rise of 2.9% year on year. These data support the first official estimates published last week. This means that the German economy in the 2nd quarter was the fastest growing economies of the developed countries. Such data will help Angela Merkel led the conservative coalition, which, according to the latest polls, already confident ahead of competitors in the upcoming September elections.

It is worth noting that the main event was the publication of the European session, the revised GDP data for the UK for the 2nd quarter. According to updated figures from the Office for National Statistics, UK, UK GDP growth in the 2nd quarter was at 0.7% q / q and 1.5% y / y, which was higher than the pre-assessment at the level of 0.6% q / q and 1.4% y / y Today's data suggest that the UK economy is growing at a faster pace than expected by most economists and analysts.

The primary reaction of sterling has been rising. The pair GBP / USD after the release of the GDP has grown, almost reaching the level of $ 1.5640. However, the following reaction sterling was more significant decline, resulting in at least been updated this week against the dollar.

EUR/USD $1.3200, $1.3225, $1.3315, $1.3335, $1.3400, $1.3450

USD/JPY Y97.35, Y97.40, Y97.45, Y97.65, Y98.00, Y98.50, Y100.00

EUR/JPY Y130.50, Y131.00, Y132.00

GBP/USD $1.5500, $1.5570, $1.5575, $1.5600

USD/CHF Chf0.9300

AUD/USD $0.8925, $0.9000, $0.9050, $0.9125, $0.9250

NZD/USD $0.7950

USD/CAD C$1.0440, C$1.0450, C$1.0460, C$1.0465, C$1.0515

EUR/USD $1.3200, $1.3225, $1.3315, $1.3335, $1.3400, $1.3450

USD/JPY Y97.35, Y97.40, Y97.45, Y97.65, Y98.00, Y98.50, Y100.00

EUR/JPY Y130.50, Y131.00, Y132.00

GBP/USD $1.5500, $1.5570, $1.5575, $1.5600

USD/CHF Chf0.9300

AUD/USD $0.8925, $0.9000, $0.9050, $0.9125, $0.9250

NZD/USD $0.7950

USD/CAD C$1.0440, C$1.0450, C$1.0460, C$1.0465, C$1.0515

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The yen slid to a month low against the euro on speculation Bank of Japan Governor Haruhiko Kuroda will reiterate the case for unprecedented monetary easing at the Federal Reserve’s annual conference in Jackson Hole, Wyoming. Kuroda will take part in a panel discussion tomorrow, along with Alexandre Tombini, Brazil’s central bank head, at the three-day Jackson Hole conference. The BOJ doubled its monthly bond purchases to more than 7 trillion yen ($70.7 billion) in April to stoke 2 percent inflation in two years.

The 17-nation euro extended gains against the yen after European Central Bank Governing Council member Ewald Nowotny said good economic news removed the need for further interest-rate cuts.

The U.S. currency was poised for a weekly gain against most major peers as economic data supported the case for the Fed to reduce stimulus.

The pound was set for a weekly drop before Bank of England Governor Mark Carney speaks next week. Carney will deliver a speech on Aug. 28 in Nottingham, England. BOE policy maker Martin Weale said it may be “sensible” for the central bank to extend asset purchases in some circumstances, according to an interview published on the Daily Telegraph website on Aug. 21.

EUR / USD: during the Asian session the pair fell to $ 1.3335

GBP / USD: during the Asian session the pair traded in the range of $ 1.5575-05

USD / JPY: during the Asian session the pair rose to Y99.10

Friday sees a quieter data calendar and many will be looking ahead to the Federal Reserve's annual Symposium in Jackson Hole. Early German data sees the released of the detailed Q2 GDP numbers, the Maastricht debt ratios for the first half and the June construction orders data. Back in Europe, at 1330GMT, the Belgium August Business sentiment data will be published, to be followed at 1400GMT by the EMU August flash consumer confidence numbers. UK data to be released at 0830GMT includes the second reading of the UK Q2 GDP data. Also at 0830GMT in the UK, the June Index of Services and the July BBA Lending Data numbers will cross the wires. Media chatter about housing market bubbles is premature.

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3356 -0,01%

GBP/USD $1,5584 -0,46%

USD/CHF Chf0,9235 +0,15%

USD/JPY Y98,75 +1,09%

EUR/JPY Y131,90 +1,06%

GBP/JPY Y153,90 +0,62%

AUD/USD $0,9013 +0,42%

NZD/USD $0,7836 -0,19%

USD/CAD C$1,0519 +0,39%

06:00 Germany GDP (QoQ) (Finally) Quarter II +0.7% +0.7%

06:00 Germany GDP (YoY) (Finally) Quarter II +0.9% +0.9%

08:30 United Kingdom BBA Mortgage Approvals July 37.3 39.2

08:30 United Kingdom Business Investment, q/q Quarter II -1.9% +0.6%

08:30 United Kingdom Business Investment, y/y Quarter II -16.5%

08:30 United Kingdom GDP, q/q (Revised) Quarter II +0.6% +0.6%

08:30 United Kingdom GDP, y/y (Revised) Quarter II +1.4% +1.4%

12:30 Canada Consumer price index, y/y July +1.2% +1.4%

12:30 Canada Consumer Price Index m / m July 0.0% +0.1%

12:30 Canada Bank of Canada Consumer Price Index Core, m/m July -0.2% 0.0%

12:30 Canada Bank of Canada Consumer Price Index Core, y/y July +1.3% +1.5%

12:30 U.S. Jackson Hole Symposium

13:00 Belgium Business Climate August -12.0 -11.1

14:00 Eurozone Consumer Confidence August -17.4 -16.5

14:00 U.S. New Home Sales July 497 492