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05:30 France CPI, m/m May +0.1% +0.2% -0.1%
05:30 France CPI, y/y May +2.1% +2.0% +2.3%
06:00 Germany CPI, m/m (finally) May +0.1% -0.2% -0.2%
06:00 Germany CPI, y/y May +2.2% +1.9% +2.2%
07:15 Switzerland Producer & Import Prices, m/m May -0.1% 0.0% -0.2%
07:15 Switzerland Producer & Import Prices, y/y May -2.3% -2.0% -2.3%
09:00 Eurozone Industrial production, (MoM) April -0.3% -0.9% -0.8%
09:00 Eurozone Industrial Production (YoY) April -2.2% -2.7% -2.3%
The euro rose against the dollar as business media reported that European leaders may consider relaxing Greece’s austerity program after the June 17 election.
The common currency also rose versus the yen. A new Greek government, independent of the electoral outcome, will seek amendments to the terms of the bailout, the newspaper reported, without citing anyone.
Italy sold 6.5 billion euros of 364-day bills at an average yield of 3.972%, compared with 2.34% at an auction on May 11.
EUR/USD: the pair rose in $1,2540 area.
GBP/USD: the pair showed high in $1,5600 area then receded.
USD/JPY: during European session the pair was limited Y79.50-Y79,75.
US data starts at 1100GMT with the MBA Weekly Mortgage Applications, which are followed at 1230GMT by retail sales and the PPI data. At 1400GMT, the value of US business inventories is expected to rise 0.3% in April. Wholesale inventories were already reported up 0.6%, while factory inventories were flat in the month. The EIA weekly crude oil data then follows at 1430GMT.
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