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Economic calendar (GMT0):
01:30 Australia House Price Index (QoQ) Quarter I +3.8% +3.0% +1.7%
01:30 Australia House Price Index (YoY) Quarter I +9.3% +10.9%
01:30 Australia Home Loans March +2.3% +1.1% -0.9%
05:30 China Retail Sales y/y April +12.2% +12.2% +11.9%
05:30 China Industrial Production y/y April +8.8% +8.9% +8.7%
05:30 China Fixed Asset Investment April +17.6% +17.8% +17.3%
09:00 Eurozone ZEW Economic Sentiment May 61.2 63.5 55.2
09:00 Germany ZEW Economic Sentiment May 43.2 41.3 33.1
09:30 Australia Annual Budget Release 2014
The U.S. dollar traded mixed against the most major currencies. Market participants are awaiting the release of U.S. retail sales later in the day. U.S. retail sales should increase 0.5% in April. U.S. retail sales excluding autos should rise 0.6% in April.
The euro hits 1-month lows against the U.S. dollar due to the weaker-than-expected economic data from the Eurozone and Germany. The ZEW Centre for Economic Research released the economic sentiment figures for May. German economic sentiment slid to 33.1 in May from 43.2 in April. Analysts had expected 41.3.
Eurozone’s economic sentiment declined to 55.2 in May from 61.2 in April. Analysts had forecasted 63.5.
The euro also remained under pressure due to rumours that Germany’s Bundesbank is willing to back additional stimulus measures from the ECB next month.
The British pound dropped against the U.S. dollar ahead of tomorrow’s U.K. labour market data and the BOE inflation letter.
EUR/USD: the currency pair decreased to $1.3698
GBP/USD: the currency pair declined to $1.6824
USD/JPY: the currency pair increased to Y102.37
The most important news that are expected (GMT0):
12:30 U.S. Retail sales April +1.2% +0.5%
12:30 U.S. Retail sales excluding auto April +0.7% +0.6%
12:30 U.S. Import Price Index April +0.6% +0.4%
14:00 U.S. Business inventories March +0.4% +0.4%
21:00 New Zealand RBNZ Financial Stability Report May
21:05 New Zealand RBNZ Governor Graeme Wheeler Speaks
22:45 New Zealand Retail Sales, q/q Quarter I +1.2% +0.9%
22:45 New Zealand Retail Sales ex Autos, q/q Quarter I +0.7% +0.9%
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