Session Recap: USD softer in consolidation, AUD outperforms

FXstreet.com (Córdoba) - The USD trades a touch softer versus its major competitors on Tuesday although the consolidative tone persists in the FX space.

The Australian dollar is outperforming, having soared back above 0.9200 in the wake of slightly less dovish RBA minutes. EUR/USD pushed above 1.3100 and printed a 1-week high of 1.3130, while GBP/USD continues to struggle around 1.5100. USD/JPY failed to hold above 100.00 and dipped to a low of 99.23 in recent dealings.

Coming up during the American session, the US will release the Consumer Price Index for June, which is expected to rise 0.3% and 1.5% MoM and YoY respectively.

Main Headlines in Europe:

Mixed results in the Asia-Pacific

UK: Annual CPI rises less than expected in June

UK: Annual PPI – Output rises 2% in June

UK: Annual Retail Price Index grows 3.3% in June

EMU: Annual CPI grows 1.6% in June, as expected

Germany: ZEW Survey – Economic Sentiment slides to 36.3 in July

EMU: ZEW Survey – Economic Sentiment improves to 32.8 in July

EMU: Trade surplus n.s.a. widens against expectations in May

Spanish borrowing costs rise again at auction