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Economic calendar (GMT0):
01:30 Australia House Price Index (QoQ) Quarter I +3.8% +3.0% +1.7%
01:30 Australia House Price Index (YoY) Quarter I +9.3% +10.9%
01:30 Australia Home Loans March +2.3% +1.1% -0.9%
05:30 China Retail Sales y/y April +12.2% +12.2% +11.9%
05:30 China Industrial Production y/y April +8.8% +8.9% +8.7%
05:30 China Fixed Asset Investment April +17.6% +17.8% +17.3%
The U.S. dollar traded mixed against the most major currencies. Market participants are awaiting the release of U.S. retail sales later in the day. U.S. retail sales should increase 0.5% in April. U.S. retail sales excluding autos should rise 0.6% in April.
The New Zealand dollar traded little changed against the U.S. dollar. Food price index in New Zealand rose 0.6% in April, from a 0.3% decrease in March. The weaker-than-expected economic data from China put pressure on the kiwi. Retail sales increased 11.9% in April, from a 12.2% rise in March. Analysts had expected an increase of 12.2%. China’s industrial production rose 8.7% in April, from an 8.8% rise in March. Analysts had forecasted an increase of 8.9%. Fixed asset investment in China climbed 17.3% in April, from a 17.6% gain in March. Analysts had expected a 17.8% rise. China is New Zealand's second biggest export partner.
The Australian dollar dropped against the U.S. dollar due to the weaker-than-expected economic data from Australia and China. The house price inflation in Australia climbed 1.7% in the first quarter, from a 3.8% rise in the fourth quarter 2013. The fourth quarter figure was revised up from 3.4%. Analysts had expected an increase of 3.0%. Home loans in Australia declined 0.9% in March, from a 2.3% rise in February. Analysts had forecasted a 0.1% decrease.
The Japanese yen declined against the U.S. dollar due decreasing demand for safe-haven yen. No economic data was published in Japan.
EUR/USD: the currency pair traded mixed
GBP/USD: the currency pair climbed to $1.6880
USD/JPY: the currency pair climbed to Y102.30
The most important news that are expected (GMT0):
09:00 Eurozone ZEW Economic Sentiment May 61.2 63.5
09:00 Germany ZEW Survey - Economic Sentiment May 43.2 41.3
09:30 Australia Annual Budget Release 2014
12:30 U.S. Retail sales April +1.2% +0.5%
12:30 U.S. Retail sales excluding auto April +0.7% +0.6%
12:30 U.S. Import Price Index April +0.6% +0.4%
14:00 U.S. Business inventories March +0.4% +0.4%
21:00 New Zealand RBNZ Financial Stability Report May
21:05 New Zealand RBNZ Governor Graeme Wheeler Speaks
22:45 New Zealand Retail Sales, q/q Quarter I +1.2% +0.9%
22:45 New Zealand Retail Sales ex Autos, q/q Quarter I +0.7% +0.9%
|remaining time till the new event being published|
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