FX & CFD trading involves significant risk
Economic calendar (GMT0):
01:30 Australia Trade Balance March 1.26 1.04 0.73
04:30 Australia Announcement of the RBA decision on the discount rate 2.50% 2.50% 2.50%
04:30 Australia RBA Rate Statement
07:48 France Services PMI (Finally) April 50.3 50.3 50.4
07:53 Germany Services PMI (Finally) April 52.0 52.0 54.7
07:58 Eurozone Services PMI (Finally) April 53.1 53.1 53.1
08:30 United Kingdom Purchasing Manager Index Services April 57.6 57.9 58.7
09:00 Eurozone Retail Sales (MoM) March +0.4% 0.0% +0.3%
09:00 Eurozone Retail Sales (YoY) March +0.8% +0.9% +0.9%
09:00 Eurozone ECOFIN Meetings
The U.S. dollar traded lower against the most major currencies. Weak China’s HSBC manufacturing purchasing managers’ index was the reason for the decline of the U.S. currency. Investors preferred the yen as safe-haven currency.
The New Zealand dollar increased for a sixth day against the U.S. dollar. No economic data was released in New Zealand. Investors are waiting for the publication of New Zealand’s employment report.
The Australian dollar traded mixed against the U.S. The Reserve Bank of Australia (RBA) left the cash rate at a record low of 2.5%. Analysts expected this decision. The Reserve Bank of Australia Governor Glenn Stevens said the Australian dollar remains high by historical standards, but there has been improvement in the labour market. He added that the RBA should continue its accommodative monetary policy to boost demand and to help growth to strengthen over time. The target for inflation is 2%–3% in the next two years.
Australia’s trade balance surplus dropped to A$713 million in March from A$ 1.26 billion in February. Analysts forecasted a decline to A$1.04 billion.
The Japanese yen traded little changed against the U.S. dollar. Japan’s markets were closed today for a public holiday.
EUR/USD: the currency pair climbed to $1.3880
GBP/USD: the currency pair increased to $1.6880
USD/JPY: the currency pair declined to Y102.00
AUD/USD: the currency pair traded mixed
The most important news that are expected (GMT0):
09:30 Australia Annual Budget Release 2014
12:30 Canada Trade balance, billions March 0.29 0.60
12:30 U.S. International Trade, bln March -42.3 -40.1
14:00 Canada Ivey Purchasing Managers Index April 55.2 57.3
21:30 U.S. FOMC Member Jeremy Stein Speaks
22:45 New Zealand Employment Change, q/q Quarter I +1.1% +0.7%
22:45 New Zealand Unemployment Rate Quarter I 6.0% 5.8%
23:50 Japan Monetary Policy Meeting Minutes
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