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Economic calendar (GMT0):
01:30 Australia Gross Domestic Product (QoQ) Quarter I +0.8% +0.9% +1.1%
01:30 Australia Gross Domestic Product (YoY) Quarter I +2.8% +3.5%
07:48 France Services PMI (Finally) May 49.2 49.2 49.1
07:53 Germany Services PMI (Finally) May 56.4 56.4 56.0
07:58 Eurozone Services PMI May 53.5 53.5 53.2
08:30 United Kingdom Purchasing Manager Index Services May 58.7 58.3 58.6
The U.S. dollar traded higher against the most major currencies due to strong factory orders in the U.S. The U.S. factory orders climbed 0.7% in April, beating expectations for 0.6% increase, after a 1.1% gain in March.
The New Zealand dollar hits 3-month lows against the U.S dollar following a decline in dairy prices. Dairy product prices dropped 4.2% to the lowest level since February 2013. Whole milk powder prices slid 8.5%, extending their drop since a February 5, 2014 auction to 28%.
No economic data was published in New Zealand.
The Australian dollar climbed against the U.S. dollar due to strong economic growth in Australia. The Australian gross domestic product rose 1.1% in the first quarter, exceeding expectations of a 0.9% gain, after a 0.8% increase the previous quarter.
On a yearly basis, the gross domestic product in Australia increased 3.5% in the first quarter, after a 2.8% rise the previous quarter.
The AIG services index for Australia climbed to 49.9 in May from 48.6 in April.
The Japanese yen hits 1-month lows against the U.S. dollar due to overnight gains in U.S. Treasury yields.
EUR/USD: the currency pair declined to $1.3610
GBP/USD: the currency pair decreased to $1.6720
USD/JPY: the currency pair climbed to Y102.80
The most important news that are expected (GMT0):
09:00 Eurozone Producer Price Index, MoM April -0.2% -0.1%
09:00 Eurozone Producer Price Index (YoY) May -1.6% -1.2%
09:00 Eurozone GDP (QoQ) (Revised) Quarter I +0.2% +0.2%
09:00 Eurozone GDP (YoY) (Revised) Quarter I +0.9% +0.9%
12:00 G7 G7 Meetings
12:15 U.S. ADP Employment Report May 220 217
12:30 Canada Trade balance, billions April 0.1 -0.2
12:30 U.S. International Trade, bln April -40.4 -40.8
12:30 U.S. Nonfarm Productivity, q/q (Finally) Quarter I -1.7% -2.2%
14:00 Canada Bank of Canada Rate 1.00% 1.00%
14:00 Canada BOC Rate Statement
14:00 U.S. ISM Non-Manufacturing May 55.2 55.6
18:00 U.S. Fed's Beige Book
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