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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
03:40 Japan BOJ Governor Haruhiko Kuroda Speaks
05:00 Japan Consumer Confidence April 41.7 41.9 41.5
07:15 Switzerland Producer & Import Prices, m/m April 0.2% -0.1% -2.1%
07:15 Switzerland Producer & Import Prices, y/y April -3.4% -5.2%
The U.S. dollar rose against the most major currencies ahead of the U.S. economic data. The NY Fed Empire State manufacturing index is expected to rise to 5.0 in May from -1.19 in April.
The U.S. industrial production is expected to climb 0.1% in April, after a 0.6% drop in March.
The preliminary Thomson Reuters/University of Michigan preliminary consumer sentiment index is expected to rise to 96.0 in May from a final reading of 95.9 in April.
The euro traded lower against the U.S. dollar in the absence of any major economic data from the Eurozone. The Greek debt problem still weighs on the euro.
The British pound traded lower against the U.S. dollar despite the solid construction output data from the U.K. Construction output in the U.K. rose 3.9% in March, after a 0.3% decline in February.
The increase was driven by a rise in non-housing repair and maintenance work, which soared 20% in March.
On a yearly basis, construction output climbed 1.6% in March.
The Canadian dollar fell against the U.S. dollar ahead of the Canadian economic data. Canada's manufacturing shipments are expected to increase 1.2% in March, after a 1.7% drop in February.
The Swiss franc declined against the U.S. dollar after the weaker-than-expected Swiss producer and import prices data. Switzerland's producer and import prices dropped 2.1% in April, missing expectations for a 0.1% decline, after a 0.2% rise in March.
On a yearly basis, producer and import prices plunged 5.2% in April, after a 3.4% drop in March.
The decline was driven by lower prices for machinery, electronic and optical products, metal products, electrical equipment, motor vehicles and medical equipment.
EUR/USD: the currency pair fell to $1.1323
GBP/USD: the currency pair decreased to $1.5700
USD/JPY: the currency pair rose to Y119.92
The most important news that are expected (GMT0):
12:30 Canada Manufacturing Shipments (MoM) March -1.7% 1.2%
12:30 U.S. NY Fed Empire State manufacturing index May -1.19 5.0
13:15 U.S. Industrial Production (MoM) April -0.6% 0.1%
13:15 U.S. Capacity Utilization April 78.4% 78.4%
13:55 U.S. Reuters/Michigan Consumer Sentiment Index (Preliminary) May 95.9 96.0
20:00 U.S. Net Long-term TIC Flows March 9.8
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