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Economic calendar (GMT0):
01:30 Australia Trade Balance March 1.26 1.04 0.73
04:30 Australia Announcement of the RBA decision on the discount rate 2.50% 2.50% 2.50%
04:30 Australia RBA Rate Statement
07:48 France Services PMI (Finally) April 50.3 50.3 50.4
07:53 Germany Services PMI (Finally) April 52.0 52.0 54.7
07:58 Eurozone Services PMI (Finally) April 53.1 53.1 53.1
08:30 United Kingdom Purchasing Manager Index Services April 57.6 57.9 58.7
09:00 Eurozone Retail Sales (MoM) March +0.4% 0.0% +0.3%
09:00 Eurozone Retail Sales (YoY) March +0.8% +0.9% +0.9%
09:00 Eurozone ECOFIN Meetings
09:30 Australia Annual Budget Release 2014
The U.S. dollar plunged against the most major currencies. Market participants are awaiting the release of the U.S. trade balance figures later in the day.
The euro hits 7-week highs against the U.S. dollar. The European currency was supported by the better-than-expected economic data. Eurozone’s month-on-month retail sales increased to 0.3% in March from 0.1% in February. February’s figure was revised down to 0.1% from 0.4%. Analysts had forecasted a rise of 0.2%.
The number of unemployed people in Spain declined by 111,600 in April from a 16,600 decrease in March. Analysts had expected a fall of 49,100.
Spain's services purchasing managers' index rallied to a six-year high of 56.5 in April from 54.0 in March. Analysts had expected an increase to 54.4 in April.
The British pound hits five-year highs. The better-than-expected U.K. services PMI had supported the British currency. The U.K. services PMI climbed to a four-month high of 58.7 in April from 57.6 in March. Analysts had expected an increase to 57.9. Investors expect the Bank of England could hike the interest rates ahead of other central banks.
The Australian dollar hits 2-week highs against the U.S. dollar. The Reserve Bank of Australia (RBA) left the cash rate at a record low of 2.5%. Analysts expected this decision. The Reserve Bank of Australia Governor Glenn Stevens said the Australian dollar remains high by historical standards, but there has been improvement in the labour market.
EUR/USD: the currency pair climbed to $1.3944
GBP/USD: the currency pair increased to $1.6981
USD/JPY: the currency pair declined to Y101.69
AUD/USD: the currency pair was up to $0.9351
The most important news that are expected (GMT0):
12:30 Canada Trade balance, billions March 0.29 0.60
12:30 U.S. International Trade, bln March -42.3 -40.1
14:00 Canada Ivey Purchasing Managers Index April 55.2 57.3
21:30 U.S. FOMC Member Jeremy Stein Speaks
22:45 New Zealand Employment Change, q/q Quarter I +1.1% +0.7%
22:45 New Zealand Unemployment Rate Quarter I 6.0% 5.8%
23:50 Japan Monetary Policy Meeting Minutes
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