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The Commodity Bloc was volatile Thursday. Influencing the Canadian, Australian and New Zealand dollars equally was a sharp drop in key raw material prices. The Reuters/Jeffries CRB Commodity Price Index dropped 1.9 percent with notable contributions from industrial metals, agriculturals and the energy complex alike.

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- Dollar Rallies After Better Than Expected GDP - Euro Has A Second Chance At Event Risk With Inflation Expectations - Pound Falters As Earnings Reports Show Housing Strain, Event Risk Picks Up Thursday - Oil Drop Competes With Canadian And Australian Data For Forex Action - Yen Looks To Key Japanese Data For Action As Long As Carry Is Quiet

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* U.S. Q2 GDP data stronger than previously reported

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(Updates with latest market moves)

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LONDON, Aug 28 (Reuters) - The euro rose on Thursday, adding to its recovery from a six-month low against the dollar a day after comments from European Central Bank policymakers dimmed speculation that its next move on interest rates would be a cut.

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Short term patterns indicate that the US dollar is likely to weaken on balance for the rest of the week.

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Finotec Group, Inc. , an on-line foreign exchange company whose UK subsidiary, Finotec Trading UK Limited, is regulated by the FSA in the United Kingdom, has announced its World Forex Trading Contest.

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(RTTNews) - Tuesday, India’s foreign exchange reserves are above optimal level at $286 billion according to a recent International Monetary Fund-IMF study, reported the media. It pointed out that the forex accumulation decreased external weakness and the risk of financial corruption.

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Retail traders have been aggressively buying the sterling since long positions are up by 18.9%. Yet, when retail is long and buying more, the GBP/USD normally sells off in the following days.

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NEW YORK, Aug 28 (Reuters) - The euro strengthened broadly on Thursday, extending its rebound from a six-month low against the dollar for a second straight day on reduced expectations the European Central Bank will cut interest rates.

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