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08:30 United Kingdom Bank of England Minutes June
09:00 Eurozone Construction Output, m/m April -1.7% 2.0%
09:00 Eurozone Construction Output, y/y April -7.9% -6.6%
09:00 Switzerland Credit Suisse ZEW Survey (Expectations) June 2.2 2.2
Euro traded in a range against the dollar in anticipation of the outcome of the Fed meeting, from which investors are waiting for clues on the timing of the program of buying bonds.
Markets expect the Fed will clarify the future of the program of buying bonds. The Fed will issue a statement on the results of the meeting, after which the head of the central bank, Ben Bernanke will hold a press conference.
Some support for the single currency was data on construction in the eurozone. Construction output in 17 countries in the euro zone rose in April, which was another confirmation of increased economic activity in the region after six quarters of decline. And while in Germany experienced the strongest monthly growth, which in itself is not surprising, there were encouraging signs also have difficulties in southern countries such as Italy and Portugal, where strong growth was recorded for the month. According to published European statistical agency Eurostat data, the volume of construction in April rose by 2.0% compared with the previous month, after falling 1.8% in March. Compared with the same period of the previous year the activity in the sector fell in April by 6.6% after falling 7.3% the month before.
The pound fell against the dollar after the release of the minutes of the Bank of England, which again showed that the monetary authorities unanimously voted to keep interest rates at 0.5% (9 to 0), while the vote in favor of maintaining the program of asset purchases of £ 375 6 billion were distributed to 3. King Fisher and Miles called for an increase in the volume of purchases to £ 400 billion as stated in the protocol, all members of the committee agreed on the fact that "despite the small amount of news about real economic activity this month, the overall situation is developing in a positive way, changing series of small improvements a few months earlier. "
EUR / USD: during the European session, the pair is trading in the range of $ 1.3384 - $ 1.3410
GBP / USD: during
the European session, the pair rose to $ 1.5669 and then fell to $
USD / JPY: during
the European session, the pair fell to Y94.82
At 12:30 GMT Canada will publish the change in the volume of wholesale trade for April. At 14:30 GMT the United States, there are data on stocks of crude oil from the Ministry of Energy. At 16:40 GMT deliver a speech, Bank of Canada Stephen Poloz. At 18:00 GMT the economic outlook will be released from the FOMC, the publication will be the FOMC decision on the basic interest rate and the accompanying statement will be made FOMC. At 18:30 GMT will be a press conference of the Federal Reserve System. At 22:45 GMT New Zealand is to publish the change in GDP in Q1.
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