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00:25 Canada Gov Council Member Lane Speaks
01:30 Australia Current Account, bln Quarter I -14.7 -8.9 -8.5
01:30 Japan Labor Cash Earnings, YoY April -0.6% +0.6% +0.3%
02:15 Canada Gov Council Member Lane Speaks
04:30 Australia Announcement of the RBA decision on the discount rate 2.75% 2.75% 2.75%
04:30 Australia RBA Rate Statement
The Dollar Index reached an almost one-month low yesterday after a report showed U.S. manufacturing contracted in May at the fastest pace in four years. The Institute for Supply Management's factory index for the U.S. fell to 49, the lowest reading since June 2009, from the prior month's 50.7 reading, the Tempe, Arizona-based group's report showed yesterday. Fifty is the dividing line between growth and contraction.
Private data tomorrow may show the pace of hiring in the world's largest economy quickened. ADP Research Institute will probably say tomorrow the pace of hiring in the U.S. quickened by 46,000 jobs to 165,000 in May from the previous month, according to the median estimate of economists surveyed by Bloomberg News.
Australia's dollar held declines after the nation's Reserve Bank signaled scope to ease further. The Reserve Bank of Australia kept its benchmark interest rate unchanged at 2.75 percent today, in line with 24 of the 26 economists surveyed by Bloomberg. Interest-rate swaps data compiled by Bloomberg show traders see a 32 percent chance the central bank will lower borrowing costs at the next meeting on July 2.
EUR / USD: during the Asian session the pair fell to $ 1.3055
GBP / USD: during the Asian session the pair traded in the range of $ 1.5310-40
USD / JPY: during the Asian session the pair traded in the range of Y99.30-85
There is a full calendar Tuesday, with releases on both sides of the pond, although the early focus could be on the RBA's rate decision. German May car registrations numbers are set for release at some stage in the morning session, although there is no fixed time. At 0900GMT, the EMU April PPI data is set for release. At 0930GMT, Bundesbank board member Joachim Nagel on panel at a FAZ conference in Berlin. Then, at 1130GMT, German Chancellor Angela Merkel will deliver a speech at the local governments' conference, in Berlin.
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