The first part of important fundamentals from the world's largest economy is already out, and as it was expected, it surprised markets to the upside, meaning the economy is recovering from first quarter's slump.
There is always a clam before the storm.
The Reserve Bank of New Zealand raised its official cash rate by another 0.25% last week, however, traders got extremely bearish on the Kiwi, with NZD/USD continue falling lower on Monday, hitting 0.8532 with more declines on the radar.
Japan's officials are getting less confident in their own assessment on exports after having erred on the side of optimisms for more than a year after launching unprecedented stimulus programme in April 2013.
After a year of growing pressure on the government and the central bank the housing market seems to become a less worrying issue for both of them.
Economists from the ING believe the world's largest economy has bounced back in the second quarter following a dismal start to the year.
"Speculation about an asset-purchase program from the ECB is likely to gain further traction"- Benjamin Schroeder, an interest-rates strategist at Commerzbank AG This week European Central Bank's patience will be tested once again, as key inflation data for July are on the radar. While policy makers may feel there is a room for complacency at least for this summer that would
Last Thursday, following RBNZ's meeting the Kiwi plunged most in nine months, with the corresponding index falling 0.9% against 16 major currencies.
The Bank of Japan has been showing surprising resilience since April, when the sales tax was increased to 8%.
The cable was expected to perform an impressive rally on Friday, as GDP report was projected to show the economy is now the fastest growing economy among other G7 members.
It seems that the EUR/USD currency pair found a strong support around a recent low at 1.3431, as even despite stronger-than-expected data from the United States was not able to provide a massive boost to the most traded currency pair.
Despite the fact the most traded currency pair closed on Wednesday and Thursday unchanged, it was stuck at the lowest level in eight months on Friday, trading around 1.3449.
Over the last week markets were more active that 5 days earlier, with the market volatility entering the turbulence zone for 27% of the time, versus 22% a week ago.
With a surprise for some analysts the RBNZ raised the official cash rate further, however, signalled a pause in interest rate hikes in order to assess the impact of monetary policy to date.
The Japanese Yen was still trading around 101.48 against the Greenback on Thursday, neglecting trade figures from the world's third largest economy.
Investors still bet on a rally on the Cable by the end of this week, as Friday's GDP report is likely to add more pressure on the Bank of England to start raising rates sooner-than-excepted.
During the last testimony Janet Yellen pointed out that the world's largest economy still requires a support from its central bank.
Both services and manufacturing sectors in the 18-nation bloc in July expanded, meaning confidence strengthened significantly.
Earlier we have claimed that inflation report will have a muted impact on the RBA's assessment of the domestic economy.
Haruhiko Kuroda's path in beating deflation is moving to its end.
The Cable is trading comfortably above 1.70-mark, while the Sterling together with the Aussie and Kiwi were the top three performers among nine major currencies over the last 130 trading days.
Two times per year central bank's chairman or chairwoman gives Fed's assessments of the economic state to Congress and it is a perfect time to find out what the Fed thinks about the world's largest economy.
The Russian economy is on the brink of recession even before the U.S. announced fresh sanctions.
Speculations about any adjustment of the monetary policy by the Reserve Bank of Australia any time soon have already been extremely low.