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Germany's consumer confidence dropped to a new record low in July as consumers see the risk of the economy slipping to a recession, survey results from the market research group GfK showed on Tuesday. The consumer confidence index fell to -27.4 in July from revised -26.2 in June. The score was forecast to fall to -27.6.

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New orders for U.S. manufactured durable goods increased by more than expected in the month of May, according to a report released by the Commerce Department on Monday. The report showed durable goods orders climbed by 0.7 percent in May after rising by 0.4 percent in April. Economists had expected orders to inch up by 0.1 percent.

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The US Dollar (via the DXY Index) will likely be reminded of the US economy’s weak growth environment in the coming days.

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The euro came out of the intense week relatively unscathed as it heads into another stacked week full of key economic data while EUR/USD holds above 1.05.
The daily price is testing S2 Yearly Pivot to above for the secondary bear market rally to be started. Alternatively, if the price is bounced from S2 Yearly Pivot to below so the bearish trend will be continuing with the possible ranging way for example.

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The Australian Dollar has been trading as a barometer of the markets’ recession fears. It may fall in the week ahead as worries about global growth continue to fester.
Daily price is below 200 SMA by trying to break symmentic triangle pattern with support level at 0.68 to below for the primary bearish trend to be continuing. Alternatively, the price may be bounced from support level to above for the secondary ranging to be started.

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