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17.05.2016 12:19

Foreign exchange market. European session: the British pound traded lower against the U.S. dollar on the weak consumer price inflation data from the U.K.

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

01:30 Australia New Motor Vehicle Sales (MoM) April 2.2% -0.5% -2.5%

01:30 Australia New Motor Vehicle Sales (YoY) April 4.2% 2.4%

01:30 Australia RBA Meeting's Minutes

04:30 Japan Industrial Production (MoM) (Finally) March -5.2% 3.6% 3.8%

04:30 Japan Industrial Production (YoY) (Finally) March -1.2% 0.1% 0.2%

07:15 Switzerland Producer & Import Prices, m/m April 0% 0.1% 0.3%

07:15 Switzerland Producer & Import Prices, y/y April -4.7% -2.4%

08:30 United Kingdom Producer Price Index - Output (MoM) April 0.3% 0.2% 0.4%

08:30 United Kingdom Producer Price Index - Output (YoY) April -0.9% -0.8% -0.7%

08:30 United Kingdom Producer Price Index - Input (MoM) April 2.2% Revised From 2.0% 1.1% 0.9%

08:30 United Kingdom Producer Price Index - Input (YoY) April -6.5% -6.7% -6.5%

08:30 United Kingdom Retail Price Index, m/m April 0.4% 0.3% 0.1%

08:30 United Kingdom Retail prices, Y/Y April 1.6% 1.5% 1.3%

08:30 United Kingdom HICP, m/m April 0.4% 0.3% 0.1%

08:30 United Kingdom HICP, Y/Y April 0.5% 0.5% 0.3%

08:30 United Kingdom HICP ex EFAT, Y/Y April 1.5% 1.4% 1.2%

09:00 Eurozone Trade balance unadjusted March 19.3 Revised From 19 22.5 28.6

10:00 Germany Bundesbank Monthly Report

The U.S. dollar traded higher against the most major currencies ahead of the release of the U.S. economic data from the U.S. The U.S. consumer price inflation is expected to rise to 1.1% year-on-year in April from 0.9% in March.

The U.S. consumer price index excluding food and energy is expected to decline to 2.1% year-on-year in April from 2.2% in March.

Housing starts in the U.S. are expected to rise to 1.130 million units in April from 1.089 million units in March.

The number of building permits is expected to increase to 1.140 million units in April from 1.076 million units in March.

The U.S. industrial production is expected to climb to 0.3% in April, after a 0.6% fall in March.

The euro traded lower against the U.S. dollar despite the positive trade data from the Eurozone. Eurostat released its trade data for the Eurozone on Tuesday. Eurozone's unadjusted trade surplus climbed to €28.6 billion from €19.0 billion in February. Exports fell at an unadjusted annual rate of 3.0% in March, while imports dropped 8.0%.

The British pound traded lower against the U.S. dollar on the weak consumer price inflation data from the U.K. The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index fell to 0.3% year-on-year in April from 0.5% in March. Analysts had expected to remain unchanged at 0.5%.

The decrease was mainly driven by declines in air fares and prices for clothing, vehicles and social housing rent.

On a monthly basis, U.K. consumer prices increased 0.1% in April, missing expectations for a 0.3% gain, after a 0.4% rise in March.

Consumer price inflation excluding food, energy, alcohol and tobacco prices declined to 1.2% year-on-year in April from 1.5% in March, missing expectations for a decrease to 1.4%.

The U.K. house price index increased at a seasonally adjusted rate of 2.5% in March, after a 0.2% gain in February.

On a yearly basis, the U.K. house price index increased at a seasonally adjusted rate of 9.0% in March, after a 7.6% rise in February. It was the biggest rise since March 2015.

The Canadian dollar traded lower against the U.S. dollar ahead of the release of the manufacturing shipments data from Canada. Canadian manufacturing shipments are expected to drop 1.8% in March, after a 3.3% fall in February.

The Swiss franc traded lower against the U.S. dollar. The Federal Statistical Office released its producer and import prices data on Tuesday. Switzerland's producer and import prices rose 0.3% in April, beating expectations for a 0.1% gain, after a flat reading in March. The rise was driven by higher prices for petroleum products.

On a yearly basis, producer and import prices plunged 2.4% in April, after a 4.7% drop in March.

EUR/USD: the currency pair fell to $1.1316

GBP/USD: the currency pair declined to $1.4453

USD/JPY: the currency pair climbed to Y109.64

The most important news that are expected (GMT0):

12:30 Canada Manufacturing Shipments (MoM) March -3.3% -1.8%

12:30 U.S. Housing Starts April 1089 1130

12:30 U.S. Building Permits April 1076 1140

12:30 U.S. CPI, m/m April 0.1% 0.3%

12:30 U.S. CPI excluding food and energy, Y/Y April 2.2% 2.1%

12:30 U.S. CPI, Y/Y April 0.9% 1.1%

12:30 U.S. CPI excluding food and energy, m/m April 0.1% 0.2%

13:15 U.S. Capacity Utilization April 74.8% 75%

13:15 U.S. Industrial Production (MoM) April -0.6% 0.3%

13:15 U.S. Industrial Production YoY April -2%

22:45 New Zealand PPI Input (QoQ) Quarter I -1.2%

22:45 New Zealand PPI Output (QoQ) Quarter I -0.8%

23:50 Japan GDP, q/q (Preliminary) Quarter I -0.3% 0.1%

23:50 Japan GDP, y/y (Preliminary) Quarter I -1.1% 0.2%

Market Focus

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