Focus on U.S Data From Now On

For now investors are focusing on data coming from the US statistics office at 3:00 pm BST. This is the wholesale inventories reading for June.

This is only indirectly important as the market needs some trigger for further movement (gains on EURUSD have been tapered already.

The market consensus equals 0.4% m/m vs 0.3% m/m in June. The data cannot be ambiguous interpreted as inventories mean different things.

However, it is probable that it will show US companies increase stocks of their goods while awaiting for a new wave of consumer demand.

For now, however, wholesale trades and wholesales inventories are in a downward trend, which shows that the consumer demand is not at its best performing level.