The US dollar is continuing the fall that was started in the New York session yesterday. As US traders enter for the day with the EURUSD, USDJPY and GBPUSD trading near the lows. In the video, I outline the moves today, and outline the key risk and bias defiining levels for each. What would keep the momentum going? What would disappoint the traders looking for more momentum? I go through it all to kickstart the trading day. Overnight, the the 2nd estimate for the Q2 GDP in the US will be released at 8:30 AM with expectations of 3.1% versus 3.0% in the 1st cut. The core PCE price data is expected to tick up to 2.6 from 2.5%. The GDP deflator is expected at 2% unchanged from previously reported. The data is old data so I would expect a big reaction to it.The weekly US initial jobs claims are expected to dip slightly to 230K versus 235K last week. Continuing claims are expected at 1.970 million versus 1.972 million reported last week.At 10 AM, US pending home sales for the month of July are expected to decline by -0.1% versus -0.8% last month.Looking at the premarket for US stocks, the major indices are mixed after Nvidia earnings late yesterday. Although the chip giant beat expectations it wasn't by a lot. Nvidia reported an adjusted earnings per share of $1.08 on $46.74bn in revenue, surpassing Wall Street’s projection of $1.01 in earnings per share on $46.05bn in revenue. Shares of Nvidia are trading down -1.22% in premarket trading.Crowdstrike and Snowflake also reported yesterday with varying results. Crouch rake shares are currently trading down -2.66% while snowflake shares are soaring by 13.63%Yesterday the S&P closed at a new record high (it's 19th for the year). It is down marginally today. The NASDAQ is also lower but the Dow industrial average is marginally higher:Dow industrial average for 63 pointsS&P index -2.15 pointsNASDAQ index -28.35 pointsin the US debt market, yields are mixed with the shorter end marginally higher today and the longer end of the yield curve marginally lower:2-year yield 3.631%, +0.8 basis points5 year yield 3.707%, +0.2 basis points10 year yield 4.234%, -0.4 basis points30 year yield 4.905%, -0.7 basis pointslooking at other markets,:Crude oil is currently trading down $0.06 at $64.09Gold is trading up $6.26 or 0.19% at $3405.Bitcoin is trading up $1657 at $112,930. This article was written by Greg Michalowski at investinglive.com.