Foreign exchange market. Asian session: the New Zealand dollar was down against the U.S. dollar and has reached a three-and-a-half week low
Economic calendar (GMT0):
06:00 Germany Gfk Consumer Confidence Survey May 8.5 8.5 8.5
08:00 Eurozone M3 money supply, adjusted y/y March +1.3% +1.4% +1.1%
08:30 United Kingdom GDP, q/q (Preliminary) Quarter I +0.7% +0.9% +0.8%
08:30 United Kingdom GDP, y/y (Preliminary) Quarter I +2.7% +3.2% +3.1%
The U.S. dollar climbed against the most major currencies supported by Monday’s better-than-expected U.S. pending home sales. U.S. pending sales of existing homes climbed 3.4% in March from February. It is the first increase for the first time in nine months. Analysts forecasted the increase of 1.0%.
The New Zealand dollar was down against the U.S. dollar and has reached a three-and-a-half week low on Tuesday. The weaker-than-expected trade surplus and the better-than-expected U.S. pending home sales had a negative impact on the New Zealand’s currency. New Zealand's trade surplus increased to NZ$920 million in March. But the figure in February was revised down to NZ$793 million from NZ$818 million. The projected trade surplus was NZ$937 million.
The Australian dollar declined against the U.S. dollar due to the fall in iron-ore prices and due to the better-than-expected U.S. pending home sales.
The Japanese yen declined against the most major currencies. The Japanese stock market was closed for a public holiday.
EUR/USD: the currency pair was up to $1.3865
GBP/USD: the currency pair climbed to $1.6815
USD/JPY: the currency pair traded mixed
NZD/USD: the currency pair has reached a three-and-a-half week low
The most important news that are expected (GMT0):
12:00 Germany CPI, m/m (Preliminary) April +0.3% -0.1%
12:00 Germany CPI, y/y (Preliminary) April +1.0% +1.3%
13:00 U.S. S&P/Case-Shiller Home Price Indices, y/y March +13.2% +12.9%
14:00 United Kingdom BOE Deputy Governor Andrew Bailey Speaks
14:00 U.S. Consumer confidence April 82.3 82.9
19:30 Canada BOC Gov Stephen Poloz Speaks
22:45 New Zealand Building Permits, m/m March -1.7%
23:05 United Kingdom Gfk Consumer Confidence April -5 -4
23:15 Japan Manufacturing PMI April 53.9
23:50 Japan Industrial Production (MoM) (Preliminary) March -2.3% +0.6%
23:50 Japan Industrial Production (YoY) (Preliminary) March +7.0%