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02.06.2016 12:11

Foreign exchange market. European session: the euro traded mixed against the U.S. dollar after the release of the European Central Bank’s interest rate decision

Economic calendar (GMT0):

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

01:30 Australia Trade Balance April -1.97 Revised From -2.16 -2 -1.58

01:30 Australia Retail Sales, M/M April 0.4% 0.3% 0.2%

05:00 Japan Consumer Confidence May 40.8 40.4 40.9

08:30 United Kingdom PMI Construction May 52 52 51.2

09:00 OPEC OPEC Meetings

09:00 Eurozone Producer Price Index (YoY) April -4.1% Revised From -4.2% -4.1% -4.4%

09:00 Eurozone Producer Price Index, MoM April 0.3% 0.1% -0.3%

11:45 Eurozone ECB Interest Rate Decision 0.0% 0.0% 0.0%

The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. economic data. Private sector in the U.S. is expected to add 175,000 jobs in May, according the ADP report on Wednesday.

The number of initial jobless claims in the U.S. is expected to rise by 2,000 to 270,000 last week.

The euro traded mixed against the U.S. dollar after the release of the European Central Bank's (ECB) interest rate decision. The central bank kept its interest rate unchanged as widely expected by analysts. The ECB will start to buy corporate bonds on June 08.

A press conference is scheduled to be at 12:30 GMT.

Eurostat released its producer price index for the Eurozone on Thursday. Eurozone's producer price index declined 0.3% in April, missing expectations for a 0.1% rise, after a 0.3% increase in March.

On a yearly basis, Eurozone's producer price index dropped 4.4% in April, missing expectations for a 4.1% decline, after a 4.1% fall in March. March's figure was revised up from a 4.2% drop.

Eurozone's producer prices excluding energy fell 1.2% year-on-year in April, after a 1.1% decline in March. Energy prices dropped at an annual rate of 12.5% in April.

The British pound traded higher against the U.S. dollar after the release of the weaker-than-expected construction PMI data from the U.K. Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. dropped to 51.2 in May from 52.0 in April. It was the lowest level since June 2013. Analysts had expected the index to remain unchanged at 52.0.

A reading above 50 indicates expansion in the construction sector.

The decline was mainly driven by a drop in new orders.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair rose to $1.4467

USD/JPY: the currency pair was down to Y108.83

The most important news that are expected (GMT0):

12:15 U.S. ADP Employment Report May 156 175

12:30 Eurozone ECB Press Conference

12:30 U.S. Initial Jobless Claims May 268 270

12:35 U.S. FOMC Member Jerome Powell Speaks

13:00 United Kingdom BOE Gov Mark Carney Speaks

14:00 Eurozone ECB President Mario Draghi Speaks

15:00 Canada BOC Deputy Governor Lawrence Schembri Speaks

15:00 U.S. Crude Oil Inventories May -4.226 -2.72

02.06.2016 11:50

Orders

Market Focus

  • The Bank of Japan decided by a 7-2 majority vote to hold the interest rate at -0.10%
  • Earnings Season in U.S.: Major Reports of the Week
  • U.S. commercial crude oil inventories decreased by 4.7 million barrels from the previous week
  • Australian unemployment rate stable at 5.6% in June
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