Euro slips below $1.12, UK appoints PM

The euro-dollar slipped below the 1.12 mark in the Asian trading session, as the US dollar strengthened against all G10 currencies and gold. July advance consumer confidence data, due today, should continue hinting at a lukewarm consumer sentiment in the Euro area, keep the inflation expectations low and maintain the dovish European Central Bank (ECB) prospects high before Thursdays meeting.

The pound remains under a decent selling pressure as well, as the UK prepares to appoint its new Prime Minister today. Boris Johnson is expected to win Conservatives leadership race and his victory could bring along a wave of Tory resignations, including Chancellor Philip Hammonds.

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Opening calls

FTSE is expected to open 28 points higher at 7543

DAX is expected to open 81 points higher at 12370