The dollar appreciated strongly against the euro, approaching to $ 1.12. Experts note that the euro under pressure in light of the lack of progress in the Greek negotiations. Also today, the German publication Bild reported that Greece plans to defer payment of the IMF in June for 6 months. The publication Bild quoted unnamed sources in Europe. However, the Greek government has denied reports that Athens plans to delay debt payments. Earlier today, it was rumored that on Sunday held an extraordinary meeting of eurozone authorities. In turn, German Chancellor Merkel said that almost no information on the progress in the negotiations between Greece and its creditors. Merkel added that she is not sure that will be possible to reach an agreement by Thursday.
In addition, investors caution pending the outcome of the next meeting of the Federal Reserve System (FRS) the USA, which will be held June 16-17. According to the consensus forecast, the Fed will refrain from raising interest rates in June, but it may toughen the wording of the statement in preparation for the normalization of monetary policy.
Small influenced today's data on the US housing market. The Commerce Department reported that the establishment of new homes in the US fell by 11.1% compared to the previous month and reached a seasonally adjusted annual rate of 1,036 thousand. Units. Nevertheless, bookmarks were up 22.1% in April, more than preliminary estimates. Economists had expected the establishment of new homes will be reduced to the level of 1100 thousand. In May. Report on Tuesday suggests that the pace of construction can recover later this year. Building permits rose 11.8% last month to equal 1275 thousand., Exceeding economists' expectations in 1100 thousand. Permits. Data on housing starts are inaccurate and often revised as more data become available. Broader trends show a marked increase in activity. Bookmarks new homes were 5.1% higher in May compared with a year earlier, while building permits were more than 25.4%.
The pound rose against the dollar, recovering all the lost ground earlier and reached a three-week high as investors turn their attention to tomorrow's meeting of the FOMC. Despite the fact that the increase in June, almost no one expects the market will closely monitor the language of the statement. Support currency also had a report from the Conference Board, which showed that the results of April leading economic index (LEI) for the UK increased by 0.4 percent to 113.6 points (2010 = 100) after rising 0.3 percent in March and an increase of 0.7 percent in February. Within six months (April), this figure rose by 1.4 percent (about 2.9 per cent per annum) compared with an increase of 0.6 percent (about 1.3 per cent per annum) over the previous six months. Meanwhile, the coincident economic indicator (CEI) improved by 0.2 percent to 106.0 (2010 = 100), after rising 0.2 percent in March and February. For the six-month period (April) index rose by 1.4 percent (about 2.9 per cent per annum compared with 0.6 percent (about 1.2 per cent per annum) over the previous six months. Taken together, the changes of the composite index suggests that the economy It is likely to continue to grow moderately during the summer, and has the potential to accelerate growth.
Earlier significant pressure on the pound have inflation data. As it became known, in the UK, consumer prices rose in May after falling for the first time since 1960. Consumer prices rose by 0.1 percent compared to last year as economists expected, offsetting 0.1 percent drop in April. On a monthly measurement of consumer price index rose 0.2 percent, as in April, and in accordance with expectations. Core inflation, which excludes energy, food, alcoholic beverages and tobacco increased by 0.9 percent compared to 0.8 percent in April. Another report from the ONS showed that producer prices fell by 1.6 percent, according to the forecast, and slower than the 1.7 percent decline in April. This was the eleventh consecutive decline in prices. As expected, a monthly measurement of producer prices rose 0.1 percent for the third month in a row in May.