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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
00:00 Japan Bank holiday
01:30 Australia Trade Balance March -1.61 Revised From -1.26 -1.0 -1.32
04:30 Australia Announcement of the RBA decision on the discount rate 2.25% 2% 2.0%
04:30 Australia RBA Rate Statement
08:30 United Kingdom PMI Construction April 57.8 57.5 54.2
09:00 Eurozone Producer Price Index (YoY) March -2.8% -2.3% -2.3%
09:00 Eurozone Producer Price Index, MoM March 0.6% Revised From 0.5% 0.3% 0.2%
09:00 Eurozone European Commission Economic Growth Forecasts
The U.S. dollar traded mixed against the most major currencies ahead of the U.S. economic data. The U.S. trade deficit is expected to widen to $40.3 billion in March from $35.44 billion in February.
The ISM non-manufacturing purchasing managers' index is expected to remain unchanged at 56.5 in March.
The euro traded mixed against the U.S. dollar after the European Commission released it economic growth forecast for the Eurozone. Eurozone's economic growth for 2015 was upgraded to 1.5%, up from a previous estimate of 1.3%. Eurozone's economic growth for 2016 remained unchanged at 1.9%.
The European Central Bank's quantitative easing supports the economic growth in the Eurozone, the European Commission noted. It added that lower oil prices, the weak euro and steady global growth also are supporting the European economy.
German economic growth for 2015 was raised to 1.9%, up from a previous estimate of 1.5%. Germany's economic growth for 2016 remained unchanged at 2.0%.
The European Commission downgraded the Greek GDP growth for 2015 to 0.5% from a previous estimate of 2.5% due to the debt crisis. Greece's economic growth for 2016 was lowered at 2.9% from a previous estimate of 3.6%.
French economic growth for 2015 was raised to 1.1%, up from a previous estimate of 1.0%. France's economic growth for 2016 was cut to 1.7% from a previous estimate of 1.8%.
The European Commission upgraded the Italian GDP growth for 2016 to 1.4% from a previous estimate of 1.3% due to the debt crisis. Italy's economic growth for 2015 remained unchanged at 0.6%.
Spanish economic growth for 2015 was raised to 2.8%, up from a previous estimate of 2.3%. Spain's economic growth for 2016 was upgraded to 2.6% from a previous estimate of 2.5%.
Eurozone's producer price index climbed 0.2% in March, missing expectations for a 0.3% increase, after a 0.6% rise in February. February's figure was revised up from 0.5% gain.
The British pound traded mixed against the U.S. dollar after the weaker-than-expected construction PMI from the U.K. Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. fell to 54.2 in April from 57.8 in March, missing expectations for a decline to 57.5. It was second consecutive decline.
The decline was driven by slower rise of output and new orders.
The Canadian dollar traded higher against the U.S. dollar ahead of Canadian trade data. The Canadian trade deficit is expected to narrow to C$0.8 billion in March from C$0.98 billion in February.
EUR/USD: the currency pair traded mixed
GBP/USD: the currency pair traded mixed
USD/JPY: the currency pair rose to Y120.51
The most important news that are expected (GMT0):
12:30 Canada Trade balance, billions March -0.98 -0.8
12:30 U.S. International Trade, bln March -35.44 -40.3
14:00 U.S. ISM Non-Manufacturing April 56.5 56.5
16:45 Canada Gov Council Member Wilkins Speaks
22:45 New Zealand Employment Change, q/q Quarter I 1.2% 0.8%
22:45 New Zealand Unemployment Rate Quarter I 5.7% 5.5%
|remaining time till the new event being published|
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