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Economic calendar (GMT0):
01:30 Australia RBA Meeting's Minutes
01:30 Australia New Motor Vehicle Sales (MoM) May 0.0% 0.3%
01:30 Australia New Motor Vehicle Sales (YoY) May -1.9% -2.0%
05:45 Switzerland SECO Economic Forecasts Quarter III
07:15 Switzerland Producer & Import Prices, m/m May -0.3% 0.0% +0.1%
07:15 Switzerland Producer & Import Prices, y/y May -1.2% -0.8% -0.8%
08:30 United Kingdom Retail Price Index, m/m May +0.4% +0.2% +0.1%
08:30 United Kingdom Retail prices, Y/Y May +2.5% +2.5% +2.4%
08:30 United Kingdom RPI-X, Y/Y May +2.6% +2.5%
08:30 United Kingdom Producer Price Index - Input (MoM) May -1.1% +0.1% -0.9%
08:30 United Kingdom Producer Price Index - Input (YoY) May -5.5% -4.1% -5.0%
08:30 United Kingdom Producer Price Index - Output (MoM) May 0.0% +0.1% 0.0%
08:30 United Kingdom Producer Price Index - Output (YoY) May +0.6% +0.8% +1.0%
08:30 United Kingdom HICP, m/m May +0.4% +0.2% -0.1%
08:30 United Kingdom HICP, Y/Y May +1.8% +1.7% +1.5%
08:30 United Kingdom HICP ex EFAT, Y/Y May +2.0% +1.6%
09:00 Eurozone ZEW Economic Sentiment June 55.2 59.6 58.4
09:00 Germany ZEW Survey - Economic Sentiment June 33.1 35.2 29.8
The U.S. dollar traded slightly lower against the most major currencies ahead of the release of consumer price index in the U.S. The lowering forecast of the U.S. economic growth by the International Monetary Fund (IMF) still weighed on the U.S. The IMF expects the U.S. economy to grow 2% in 2014, down from its forecast of 2.8% in April.
The consumer price index in the U.S. should climb 0.2% in May, after a 0.3% increase. The core consumer price index in the U.S. should remain unchanged at 2.0% in May.
The euro traded mixed against the U.S. dollar after the weaker-than-expected ZEW economic sentiment. The German economic sentiment dropped by 3.3 points to 29.8 in June from 33.1 in May. Analysts had expected an increase by 1.9 points to 35.0.
Eurozone’s ZEW economic sentiment climbed to 58.4 in June from 55.2 in May, missing expectations for a gain to 59.6.
The British pound traded slightly higher against the U.S. dollar. The annual rate of inflation declined 1.5% in May, after 1.8% in April. That was the lowest level since October 2009. Analysts had expected the annual inflation rate to decrease to 1.7%.
On a monthly basis, inflation in the U.K. fell 0.1%, missing expectations for a 0.2% gain, after a 0.4% increase.
The decline was driven by falls in the price of bread, cereals and vegetables. Food prices declined 0.6%.
Core consumer price index excluding food costs in the U.K. climbed at annual rate by 1.6%, missing expectations for a 1.7% rise.
The Retail Prices Index (RPI) decreased to 2.4% in May from 2.5% in April.
U.K. house prices surged by 9.9% in the 12 months to April and reached a new high of £260,000.
The Swiss franc traded mixed against the U.S. dollar. The producer & import prices in Switzerland rose 0.1% in May, after a 0.3% decline in April. Analysts had expected the producer & import prices to be flat.
On a yearly, producer & import prices in Switzerland declined 0.8% in May, meeting expectations, after a 1.2% fall.
EUR/USD: the currency pair traded mixed
GBP/USD: the currency pair increased to $1.6989
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
12:30 U.S. Building Permits, mln May 1.08 1.07
12:30 U.S. Housing Starts, mln May 1.07 1.04
12:30 U.S. CPI, m/m May +0.3% +0.2%
12:30 U.S. CPI, Y/Y May +2.0% +2.0%
12:30 U.S. CPI excluding food and energy, m/m May +0.2% +0.2%
12:30 U.S. CPI excluding food and energy, Y/Y May +1.8% +1.8%
22:45 New Zealand Current Account Quarter I -1.43 1.42
23:50 Japan Monetary Policy Meeting Minutes
23:50 Japan Adjusted Merchandise Trade Balance, bln May -808.9 -1100
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