FOREX News and Overnight Technical Levels- July 31st

Fundamental Headlines

• USDJPY – Japanese unemployment rate rops to 3.7 percent, improves from 3.8 percent previous.  Positive for the economy, the figure was widely     countered by overall household spending and manufacturing figures.  PMI rose to +49, lower than expected along with household spending that was lackluster at 0.1 percent on the year on year.
• NZDUSD – Finance Minister Cullen states that given current fundamentals, the New Zealand dollar has room to fal another 27 percent.
• EURUSD – Eurozone unemployment rate improves to 6.9 percent, better than consensus for 7 percent.  Swiss UBS consumption indicator better than expected at 2.309, previous figure resvised lower.
• GBPUSD – Consumer confidence prints much lower than expected in the UK.  Although some attribute lower results to weather, consumption seemed to be dampened by effects of higher interest rates.  Savings indicator increased to relative high.