Data on trade balance in China was published, it was $17.8 billion vs. estimates for 26.2 billion. However, the import grew 10.9% vs. expectations for 1.0%. The British pound grew 53 points.
Today at 12:30 UTC+4 data on UK Trade Balance in June is revealed; forecast -8.4 billion pounds vs. -8.5 billion pounds. However, taking into account the rise of Industrial Production in June from 0.0% to 1.1% we may expect data that may surpass the expectations.
Earlier at 9:30 UTC+4 relevant data on China is issued. Industrial Production in July (yoy) is estimated to be 9.0%, Retail sales (yoy) 13.5%.
If data on China is strong we expect the growth to the highs of May 1-6, 1.5600/05.
If the scenario is negative, when the investors will close the positions before the uncertainty of the next week, if the testing level 1.5518 is broken we expect decline to 1.5482 and further to 1.5435.