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28.05.2014 08:55

Foreign exchange market. Asian session: the New Zealand dollar hits 2.5-month lows against the U.S due to the weaker-than-expected New Zealand’s economic data

Economic calendar (GMT0):

00:00    Japan                  BOJ Governor Haruhiko Kuroda Speaks                                                            

00:30    Australia              Leading Index                            March       0.0%                    -0.5%

01:00    New Zealand       ANZ Business Confidence            May          64.8                      53.5

01:30    Australia              Construction Work Done           Quarter I  -1.1%     -0.3%     +0.3%

05:45    Switzerland          Gross Domestic Product (QoQ)  Quarter I  +0.2%   +0.5%    +0.5%

05:45    Switzerland          Gross Domestic Product (YoY)   Quarter I   +1.7%   +2.1%   +2.0%

06:00    Switzerland          UBS Consumption Indicator        April          1.84                      1.72

06:45    France                 Consumer spending                   April         +0.4%   +0.5%     -0.3%

06:45    France                 Consumer spending, y/y            April         -1.2%                    -0.5%

07:55    Germany             Unemployment Change             May           -25        -14            24

07:55    Germany             Unemployment Rate s.a.            May           6.7%     6.7%      6.7%

08:00    Eurozone             M3 money supply, adjusted y/y April         +1.1%  +1.2%    +0.8%

08:00    Eurozone             Private Loans, Y/Y                      April         -2.2%     -2.1%    -1.8% 

The U.S. dollar traded higher against the most major currencies. The U.S. currency was still boosted by the better-than-expected U.S. economic data, published on Tuesday. U.S. durable goods orders rose 0.8% in April, after a 2.9% gain in March. The U.S. consumer confidence index climbed to 83.0 in May, from 81.7 in April.

The New Zealand dollar hits 2.5-month lows against the U.S due to the weaker-than-expected New Zealand’s economic data. The ANZ business confidence index for New Zealand dropped to 53.5 in Mai, from 64.8 in April.

The Australian dollar traded higher against the U.S. dollar, but later lost all its gains. Construction work done in Australia increased 0.3% in the first quarter, from a 1.1% decline in the fourth quarter of 2013. The fourth quarter of 2013 figure was revised down to a 1.1% fall from a 1% decrease. Analysts had expected a 0.3% fall.

Australia’s April leading index from Westpac Bank and the Melbourne Institute fell 0.5% to a score of 98.0. That was the weakest reading since late 2011.

The Japanese yen traded higher against the U.S. dollar after comments from the Bank of Japan governor Haruhiko Kuroda. He said that the monetary easing is possible even with interest rates at around zero percent.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair declined to Y101.90

NZD/USD: the currency pair dropped to $0.8534

The most important news that are expected (GMT0):

10:00    United Kingdom   CBI retail sales volume balance   May         30          36          

23:50   Japan                   Retail sales, y/y                          April      +11.0%  -3.2%

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