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Economic calendar (GMT0):
01:30 Australia Trade Balance April 0.90 0.53 -0.12
01:45 China HSBC Services PMI May 51.4 50.7
06:00 Germany Factory Orders s.a. (MoM) April -2.8% +1.3% +3.1%
06:00 Germany Factory Orders n.s.a. (YoY) April +1.5% +6.3%
07:00 United Kingdom Halifax house price index May -0.2% +0.4% +3.9%
07:00 United Kingdom Halifax house price index 3m Y/Y May +8.5% +8.7%
09:00 G7 G7 Meetings
09:00 Eurozone Retail Sales (MoM) April +0.3% +0.1% +0.4%
09:00 Eurozone Retail Sales (YoY) April +0.9% +1.3% +2.4%
11:00 United Kingdom BoE Interest Rate Decision 0.50% 0.50% 0.50%
11:00 United Kingdom Asset Purchase Facility 375 375 375
11:00 United Kingdom MPC Rate Statement
11:45 Eurozone ECB Interest Rate Decision 0.25% 0.10% 0.15%
The U.S. dollar traded mixed against the most major currencies ahead of the release of initial jobless claims in the U.S. and the European Central Bank’s press conference. The number of initial jobless claims in the U.S should climb by 14,000 to 314,000.
The euro dropped against the U.S. dollar after the European Central Bank cut its interest rate to 0.15% from 0.25%. Investors had expected that the ECB will cut its interest rate.
Retail sales in the Eurozone climbed 0.4% in April, exceeding expectations for a 0.1% gain, after a 0.3% increase in March. On a yearly basis, retail sales in the Eurozone rose 2.4% in April, exceeding expectations for a 1.3% increase, after a 0.9% gain in March.
German factory orders surged 3.1% in April, beating expectations for a 1.3% rise, after a 2.8% decrease in March.
The British pound increased against the U.S. dollar after the Bank of England’s interest rate decision, but later lost its gains. The BoE kept its interest rate unchanged at record low 0.50%. The stimulus program of the Bank of England remained unchanged at 375 billion pounds. Investors had expected this decision. Investors expect the BoE will raise interest rate in the first half of next year.
Earlier in the trading session, the U.K. house prices were released. The U.K. Halifax house price index increased 3.9% in May, exceeding expectations for a 0.4% rise, after a 0.3% decline in April. April’s figure was revised down from a 0.2% fall.
The Canadian dollar traded higher against the U.S. dollar ahead of the Canadian building permits and the Ivey purchasing managers’ index. The building permits in Canada should climb 1.4% in April, after a 3.0% decline in March.
The Ivey purchasing managers’ index for Canada should increase to 58.6 in May from 54.1 in April.
EUR/USD: the currency pair declined to $1.3556
GBP/USD: the currency pair traded mixed
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
12:30 Eurozone ECB Press Conference
12:30 Canada Building Permits (MoM) April -3.0% +1.4%
12:30 U.S. Initial Jobless Claims May 300 314
14:00 Canada Ivey Purchasing Managers Index May 54.1 58.6
17:30 U.S. FOMC Member Narayana Kocherlakota
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