2008-07-20 15:19:06

The European Union aims to cooperate with the U.S. Securities and Exchange Commission on improving regulation of credit rating agencies, Internal Market Commissioner Charlie McCreevy told Euro am Sonntag newspaper.

German finance minister Peer Steinbrueck said the country's economic growth this year may 'slightly' exceed the government's forecast of 1.7 percent, compared with 2.5 percent growth in 2007, in an interview with Welt am Sonntag.

The Japanese Yen crosses are higher today thanks to the recent recovery in US stocks.

The British pound has been at the whim of risk appetite and the US dollar for most of the week, but things will change in the coming week as the UK economic calendar is chock full of market moving data.

The Euro is consolidating near its all time highs against the US dollar, even though we are reminded on a near daily basis about the risks to Eurozone growth.

- Eurozone Economy Continues to Slow - Big Week for the British Pound

The release of Canadian consumer spending data is likely to add to evidence suggesting that the Bank of Canada will leave rates unchanged going forward, and may even consider raising rates. Canadian retail sales are anticipated to jump 0.6 percent...

The following are the revised consensus forecasts compiled by Thomson Reuters IFR Markets for the major US economic indicators to be released in the coming week.