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Economic calendar (GMT0):
01:00 Australia Retail Sales Y/Y April +5.7% +5.7%
01:00 China Non-Manufacturing PMI May 54.8 55.5
01:30 Australia Retail sales (MoM) April +0.1% +0.3% +0.2%
01:30 Australia Current Account, bln Quarter I -10.1 -7.1 -5.7
01:30 Japan Labor Cash Earnings, YoY April +0.7% +0.6% +0.9%
01:45 China HSBC Manufacturing PMI (Finally) May 49.7 49.7 49.4
04:30 Australia Announcement of the RBA decision on the discount rate 2.50% 2.50% 2.50%
04:30 Australia RBA Rate Statement
06:00 United Kingdom Nationwide house price index May +1.2% +0.7% +0.7%
06:00 United Kingdom Nationwide house price index, y/y May +10.9 +10.9% +11.1%
08:30 United Kingdom PMI Construction May 60.8 61.2 60.0
09:00 Eurozone Harmonized CPI, Y/Y (Preliminary) May +0.7% +0.7% +0.5%
09:00 Eurozone Unemployment Rate April 11.8% 11.8% 11.7%
The U.S. dollar remained under pressure against the most major currencies ahead of the release of factory orders in the U.S. The U.S. factory orders should climb 0.6% in April, after a 1.1% gain in March.
The euro rose against the U.S. dollar despite the weaker-than-expected inflation data in the Eurozone. Eurozone’s inflation increased 0.5% in May, after a 0.7% gain in March. Analysts had expected a 0.7% rise. Inflation target by the European Central Bank (ECB) is 2%.
The unemployment rate in the Eurozone fell to 11.7% in April from 11.8% in March. Analysts had expected the unemployment rate remains unchanged.
The number of unemployed people in Spain decreased by 111,900 in May, after a 111,600 decline in April. Analysts had forecasted a 112,300 drop.
Market participants expect the European Central Bank will add further stimulus measures on Thursday. Investors are awaiting the ECB will cut interest rates and announce measures to boost lending to smaller businesses.
The British pound traded mixed against the U.S. dollar. The U.K. construction purchasing managers' index declined to 60.0 in May, from 60.8 in April. Analysts had expected the index to increase to 61.2.
Nationwide house price index for the U.K. climbed 0.7% in May, meeting analysts’ expectations, after a 1.2% rise in April. On a yearly basis, Nationwide house price index for the U.K. rose 11.1% in May, after a 10.9% increase in April. Analysts had expected the index remains unchanged.
EUR/USD: the currency pair declined to $1.3644
GBP/USD: the currency pair traded mixed
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
U.S. Factory Orders April +1.1%
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