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00:00 Japan BOJ Governor Haruhiko Kuroda
00:30 Australia Leading Index March +0.6% +0.2%
01:00 Australia HIA New Home Sales, m/m April +4.2% +3.9%
01:30 Australia Construction Work Done Quarter I -0.1% +1.1% -2.0%
The Dollar Index rose for a second day before U.S. data tomorrow on first-quarter growth amid speculation the Federal Reserve will curb monetary stimulus. The U.S. Commerce Department is likely to say tomorrow the world's biggest economy grew at an annualized 2.5 percent pace in the first quarter, according to the median forecast of economists surveyed by Bloomberg News. It would be unchanged from the preliminary reading released last month.
The Australian dollar fell to the weakest level since October 2011 after the International Monetary Fund cut its growth forecast for China. China's economy will grow about 7.75 percent this year and next, David Lipton, first deputy managing director of the IMF, said today at a press briefing in Beijing after concluding an annual review of the country. In April, the IMF forecast growth of 8 percent this year and 8.2 percent expansion in 2014.
A gauge of Asian currencies touched an almost eight-month low on concern investors will repatriate funds from emerging markets back to the U.S.
EUR / USD: during the Asian session the pair traded in the range of $ 1.2840-65
GBP / USD: during the Asian session the pair is trading around $ 1.5025
USD / JPY: during the Asian session the pair traded in the range of Y102.00-50
European Commission's publication of country-specific policy recs, ECB Stability Review and OECD economic outlook in focus. EZ M3 due at 0800GMT ahead of Germany CPI at 1200GMT. BOE Bean at 0930GMT the early focus.
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