- European session: the euro fell again
Market news
European session: the euro fell again
Data:
07:50 France Services PMI (finally) May 45.2 45.2 45.1
07:55 Germany Services PMI (finally) May 52.2 52.2 51.8
08:00 Eurozone Services PMI (finally) May 46.9 46.5 46.7
09:00 Eurozone Retail Sales (MoM) April +0.3% -0.1% -1.0%
09:00 Eurozone Retail Sales (YoY) April -0.2% -1.1% -2.5%
10:00 Germany Factory Orders s.a. (MoM) April +2.2% -0.9% -1.9%
10:00 Germany Factory Orders n.s.a. (YoY) April -1.3% -3.8% -3.8%
The euro fell as Spanish Budget Minister Cristobal Montoro called for European Union funds to be used to shore up the nation’s banks.
The common currency weakened for the first time in three days against the yen after European retail sales fell more in April than economists forecast and German factory orders declined
Euro-region retail sales declined 1.0% in April, after gaining 0.3% the previous month, the European Union’s statistics office said in Luxembourg. Economists forecast a drop of 0.1%. German factory orders fell 1.9% from March, the Economy Ministry said in Berlin.
EUR/USD: the pair showed low in $1,2410 area.
GBP/USD: the pair was limited $1,5320-$ 1,5410.
USD/JPY: the pair was limited of Y78,10-Y78,50.
The Bank of Canada rate announcement is due at 1300GMT, with consensus on unchanged rates/policy. At 1400GMT, the U.S. ISM monthly non-manufacturing index. At 2100GMT, Dallas Federal Reserve President Richard Fisher will speak on "The Limits of the Powers of Central Banks" in Scotland, while Chicago Federal Reserve Bank Charles Evans speaks to the NYU Money Marketeers, in New York at 2315GMT, and will answer questions from the audience and the media.
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