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Economic calendar (GMT0):
00:00 Australia Conference Board Australia Leading Index April 0.0% -0.1%
00:30 Australia Leading Index April -0.5% +0.1%
08:30 United Kingdom Bank of England Minutes
09:00 Switzerland Credit Suisse ZEW Survey (Expectations) June 7.4 10.0 4.8
11:15 United Kingdom MPC Member Weale Speaks
The U.S. dollar traded mixed against the most major currencies ahead of the Fed’s interest decision today. Market participants expect the Fed will cut its monthly asset purchases by another $10 billion to $35 billion, but the Fed will keep its interest rate unchanged until 2015.
The U.S. currency was still supported by the yesterday’s better-than expected U.S. consumer inflation. The consumer price index in the U.S. rose 0.4% in May, exceeding expectations for a 0.2% gain, after a 0.3% increase in April.
The euro increased against the U.S. dollar in the absence of any major economic reports in the Eurozone.
The British pound traded lower against the U.S. dollar after the Bank of England’s June meeting minutes. The BoE’s monetary policy committee voted unanimously to leave interest rates unchanged at their record low of 0.5% and quantitative easing at £375bn.
The Bank of England policymakers were surprised that markets had not saw a higher chance of an interest rate hike in 2014. But there are still concerns over interest hike this year. The BoE said interest rise could reduce production capacity and it is difficult to revoke the decision.
The Swiss franc traded higher against the U.S. dollar. Credit Suisse ZEW indicator declined to 4.8 points in June from 7.4 in May, missing expectations for an increase to 10.0 points.
The Canadian dollar traded mixed against the U.S. dollar ahead of the wholesale sales in Canada. The wholesale sales in Canada should climb 0.3% in April, after a 0.4% decline in March.
EUR/USD: the currency pair increased to $1.3570
GBP/USD: the currency pair declined to $1.6931
USD/JPY: the currency pair fell to Y102.15
The most important news that are expected (GMT0):
12:30 Canada Wholesale Sales, m/m April -0.4% +0.3%
12:30 U.S. Current account, bln Quarter I -81 -96
17:30 United Kingdom MPC Member Andy Haldane Speaks
18:00 U.S. FOMC Economic Projections
18:00 U.S. FOMC Statement
18:00 U.S. Fed Interest Rate Decision 0.25% 0.25%
18:00 U.S. FOMC QE Decision 45 35
18:30 U.S. Federal Reserve Press Conference
22:45 New Zealand GDP q/q Quarter I +0.9% +1.2%
22:45 New Zealand GDP y/y Quarter I +3.1% +3.7%
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