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00:00 Switzerland Bank holiday -
00:00 Germany Bank holiday -
00:00 France Bank holiday -
00:00 U.S. Bank holiday
The dollar fell against most of its 16 major counterparts after opinion polls in Greece showed voters warming to parties supporting the European Union’s bailout, easing concern the country will exit the currency bloc. New Democracy, which supports the plan negotiated by Greece’s government with international lenders, placed first in all six opinion polls published on May 26 as campaigning continued for next month’s general election. The party led by a margin of as much as 5.7 percentage points over Syriza, the main party opposed to implementing the terms of financial aid packages, according to a poll by Kapa Research SA for To Vima newspaper.
The 17-nation euro rebounded from the lowest since July 2010 after data showed trader bets on a decline in the euro reached a record high. A final reading will probably confirm that consumer confidence in the euro area was at minus 19.3 in May, little changed from minus 19.9 in the previous month, according to economist estimates in a Bloomberg News survey before the figures are released May 30. The unemployment rate climbed to 11 percent in April, the highest in data compiled by Bloomberg going back to 1990, economist forecasts in a separate poll showed before the June 1 report.
Spain plans to inject public debt instead of cash directly into the Bankia Group to pay for the bank’s recapitalization and avoid having to go to market with the instruments, El Pais reported yesterday, without citing anyone.
Until now, to pay for bank bailouts, the state would sell debt in the market through its bank rescue fund and use the cash to aid banks. A jump in yields has made debt sales more difficult and expensive, El Pais said.
U.S. financial markets are shut today for the Memorial Day national holiday.
EUR/USD: during the Asian session the pair gain to $1.2600.
GBP/USD: during the Asian session the pair rose above $1.5700.
USD/JPY: during the Asian session the pair fell come nearer to a last week’s low.
No data expected, but at 1500GMT, Bank of England MPC Member Ben Broadbent delivers a speech at Bloomberg offices. US government offices and markets remain closed on Monday for the Memorial Day holiday, thinning liquidity in markets.
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