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06:00 Germany Retail sales (March) real adjusted -2.1% 0.2% -0.3%
06:00 Germany Retail sales (March) real unadjusted Y/Y -3.5% 1.4% 1.1%
08:00 EU(17) M3 money supply (March) adjusted Y/Y 2.3% 2.1% 2.0%
08:00 EU(17) M3 money supply (3 months to March) adjusted Y/Y 2.0% 1.9% 1.7%
09:00 EU(17) Harmonized CPI (April) Y/Y preliminary 2.8% 2.7% 2.6%
09:00 EU(17) Unemployment (March) 9.9% 9.9% 9.9%
09:00 EU(17) Economic sentiment index (April) 106.2 107.1 107.3
09:00 EU(17) Business climate indicator (April) 1.28 1.40 1.43 (1.41)
The US currency weakened this month as the Fed maintained a near- zero benchmark interest rate and boosted the supply of the U.S. currency by buying Treasuries, a policy known as quantitative easing that is set to end in June.
The Swiss franc strengthened to a record against the dollar. Switzerland’s leading economic indicator unexpectedly increased in April, signaling the economy is gaining momentum. The index climbed to 2.29 compared with a revised 2.25 in March, the KOF Swiss Economic Institute said in a statement today. That’s the highest since August 2006. Economists expected a decline to 2.20.
China’s yuan strengthened beyond 6.5 per dollar for the first time since 1993, supported by speculation the central bank will allow appreciation to help tame the fastest inflation in more than two years.
The currency’s seventh weekly gain, its longest winning streak since July 2008, may damp U.S. criticism of China’s exchange-rate policy before Vice Premier Wang Qishan heads to Washington next month for talks with Treasury Secretary Tim Geithner. Consumer prices in Asia’s biggest economy rose 5.4% from a year earlier in March, exceeding the government’s 4% goal for this year.
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