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Economic calendar (GMT0):
00:30 Australia Westpac Consumer Confidence May +0.3% -6.8%
01:30 Australia Wage Price Index, q/q Quarter I +0.7% +0.8% +0.7%
01:30 Australia Wage Price Index, y/y Quarter I +2.6% +2.6% +2.6%
03:00 Japan BoJ Interest Rate Decision 0.10% 0.10% 0.10%
03:00 Japan Bank of Japan Monetary Base Target 270 270 270
03:00 Japan BoJ Monetary Policy Statement
05:00 Japan BoJ monthly economic report May
07:30 Japan BOJ Press Conference
08:00 Eurozone Current account, adjusted, bln March 21.9 24.2 18.8
08:30 United Kingdom Retail Sales (YoY) April +4.2% +5.3% +6.9%
08:30 United Kingdom Bank of England Minutes
08:30 United Kingdom Retail Sales (MoM) April +0.1% +0.4% +1.3%
The U.S. dollar traded higher against the most major currencies amid the release of Federal Reserve's meeting minutes and the speech of Fed Chair Janet Yellen. Market participants are awaiting the Fed's view of the economy. Recently published U.S. economic data was mixed and showed uneven recovery of the U.S. economy.
The euro slid against the U.S. dollar. Further stimulus measures by European Central Bank and the weak growth figures in the Eurozone weighed on the euro.
The current account surplus in the Eurozone was 18.8 billion euro in March, after a surplus of 21.9 billion euro in February. Analysts had expected an increase to 24.2 billion euro.
The British pound rose against the U.S. dollar after the release of the better-than-expected U.K. retail sales. U.K. retail sales increased 1.3% in April, from a 0.1% gain in March. Analysts had expected a 0.4% increase.
On a yearly basis, U.K. retail sales rose 6.9% in April, exceeding expectations for a 5.2% increase. That was the fastest pace since May 2004. U.K. retail sales climbed 4.8% in March.
The retail sales increase was driven by a supermarket price war between Morrisons, Tesco, Asda and Sainsbury's. Food sales rose 3.6% in April from March and at annual rate of 6.3%. That was highest annual growth since January 2002.
Bank of England's minutes of its May meeting showed that the Bank of England policymakers voted unanimously to maintain interest rates unchanged at record lows this month. But some policymakers thought the arguments in favour of an interest-rate hike were growing stronger.
EUR/USD: the currency pair declined to $1.3670
GBP/USD: the currency pair increased to $1.6921
USD/JPY: the currency pair declined to Y100.81
The most important news that are expected (GMT0):
14:00 Eurozone Consumer Confidence May -8.6 -8.0
14:00 U.S. FOMC Member Dudley Speak
15:30 U.S. Fed Chairman Janet Yellen Speaks
17:30 U.S. FOMC Member Narayana Kocherlakota
18:00 U.S. FOMC meeting minutes
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