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Economic calendar (GMT0):
01:30 Australia New Motor Vehicle Sales (MoM) April -0.3% 0%
01:30 Australia New Motor Vehicle Sales (YoY) April -2.8% -1.9%
04:25 Japan BOJ Governor Haruhiko Kuroda Speaks
05:00 Japan Consumer Confidence April 37.5 38.3 37.0
05:30 France GDP, q/q (Preliminary) Quarter I +0.2% +0.4% +0.0%
05:30 France GDP, Y/Y (Preliminary) Quarter I +0.8% +0.8%
06:00 Germany GDP (QoQ) (Preliminary) Quarter I +0.4% +0.7% +0.8%
06:00 Germany GDP (YoY) (Preliminary) Quarter I +1.3% +2.3%
07:15 Switzerland Producer & Import Prices, m/m April 0.0% +0.3% -0.3%
07:15 Switzerland Producer & Import Prices, y/y April -0.7% -1.2%
08:00 Eurozone ECB Monthly Report May
09:00 Eurozone Harmonized CPI April +0.9% +0.2%
09:00 Eurozone Harmonized CPI, Y/Y (Finally) April +0.7% +0.7% +0.7%
09:00 Eurozone Harmonized CPI ex EFAT, Y/Y April +0.7% +0.7% +1.0%
09:00 Eurozone GDP (QoQ) (Preliminary) Quarter I -0.2% +0.4% +0.2%
09:00 Eurozone GDP (YoY) (Finally) Quarter I +0.4% +0.9%
The U.S. dollar traded lower against the most major currencies. Market participants are awaiting the release of the U.S. consumer price index and the speech of the Fed Chair Janet Yellen.
The New Zealand dollar traded higher against the U.S. dollar despite disappointing manufacturing data from New Zealand. The Business New Zealand Manufacturing Index dropped to 55.2 in April, from 58.0 in March. March’s figure was revised down from 58.4.
New Zealand's Treasury released its annual budget. The government will reach a surplus in the 2105 financial year. The surplus should be NZ$372 million. The figure was revised up from NZ$86 million. Market participants were unimpressed by this release.
The Australian dollar traded higher against the U.S. dollar, supported by the new motor vehicle sales in Australia. New motor vehicle sales in Australia were flat in April, after a 0.3% decrease in March. Australia’s year-on-year new motor vehicle sales declined 1.9% in April, after a 2.8% fall in March.
The Japanese yen increased against the U.S. dollar, supported by the better-than-expected economic data out of Japan, but lost its gains after the Bank of Japan Governor Haruhiko Kuroda's speech at the Annual Tokyo Conference. On a yearly basis, Japan's gross domestic product climbed (preliminary) 5.9% in the first quarter of 2014, from a 0.7% rise in the fourth quarter of 2013. Analysts had expected a 4.2% increase. On a quarterly basis, Japan's gross domestic product rose (preliminary) 1.5% in the first quarter of 2014, from a 0.2% increase in the fourth quarter of 2013. Analysts had forecasted a 1.0% increase.
The Japanese consumer confidence index increased 37.0 in April, from 37.5 in March. Analysts had expected 36.7.
The Bank of Japan Governor Haruhiko Kuroda said at the Annual Tokyo Conference that the economy is on track to meet the 2% inflation target of the central bank. He added the Bank of Japan will continue its Quantitative and Qualitative Easing to achieve its 2% inflation target within 2 years.
EUR/USD: the currency pair traded mixed
GBP/USD: the currency pair traded mixed
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
12:30 Canada Manufacturing Shipments (MoM) March +1.4% +0.2%
12:30 U.S. Initial Jobless Claims May 319 321
12:30 U.S. NY Fed Empire State manufacturing index May 1.3 7.2
12:30 U.S. CPI, m/m April +0.2% +0.3%
12:30 U.S. CPI, Y/Y April +1.5%
12:30 U.S. CPI excluding food and energy, m/m April +0.2% +0.2%
12:30 U.S. CPI excluding food and energy, Y/Y April +1.7%
13:00 U.S. Total Net TIC Flows March 167.7
13:00 U.S. Net Long-term TIC Flows March 85.7 47.3
13:15 U.S. Industrial Production (MoM) April +0.7% +0.4%
13:15 U.S. Capacity Utilization April 79.2% 79.2%
14:00 U.S. Mortgage Delinquencies Quarter I 6.41%
14:00 U.S. Philadelphia Fed Manufacturing Survey May 16.6 13.9
14:00 U.S. NAHB Housing Market Index May 47 49
16:30 Canada BOC Deputy Governor Lawrence Schembri Speaks
23:00 U.S. Fed Chairman Janet Yellen Speaks
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