• Foreign exchange market. European session: the euro traded mixed against the U.S. dollar on the uncertainty over the debt talks between Greece and its creditors

Market news

26 June 2015

Foreign exchange market. European session: the euro traded mixed against the U.S. dollar on the uncertainty over the debt talks between Greece and its creditors

Economic calendar (GMT0):

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

06:45 France Consumer confidence June 94 Revised From 93 93 94

08:00 Eurozone Private Loans, Y/Y May 0.0% 0.5%

08:00 Eurozone M3 money supply, adjusted y/y May 5.3% 5.4% 5.0%

09:00 Eurozone EU Economic Summit

The U.S. dollar traded mixed against the most major currencies ahead of the final Reuters/Michigan Consumer Sentiment Index. The index is expected to rise to 94.6 in June from 90.7 in May.

The euro traded mixed against the U.S. dollar on the uncertainty over the debt talks between Greece and its creditors. Athens yesterday failed to reach agreement with its creditors, and it is a step closer to a possible default now. Next round of debt talks is scheduled to be tomorrow.

If a deal is not reached at Saturday's meeting, officials are expected to start preparing a "Plan B" to protect the Eurozone from damaging other countries in the Eurozone.

German Chancellor Angela Merkel said on Friday that the Eurogroup's meeting on Saturday would be decisive for finding a deal for Greece.

Athens have to repay €1.6 billion IMF loans by June 30.

Meanwhile, the economic data from the Eurozone was mixed. M3 money supply rose 5.0% in May from last year, missing expectations for a 5.4% gain, after a 5.3 % increase in April.

Loans to the private sector in the Eurozone climbed 0.5% in May from the last year, after a flat reading in April.

German import prices declined by 0.8% in May from last year, after a 0.6% fall in April. Import prices decline since January 2013.

German export prices climbed 1.4% year-on-year in May, after a 1.6% increase in April.

French consumer confidence index remained unchanged at 94 in June, beating expectation for a decline to 93.

The Italian consumer confidence index climbed to 109.5 in June from 106.0 in May. The increase was driven by rises in economic and personal financial expectations subindices.

The British pound traded higher against the U.S. dollar in the absence of any major economic reports from the U.K. The Bank of England Governor Mark Carney is expected to speak at 14:15 GMT.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair rose to Y123.73

The most important news that are expected (GMT0):

14:00 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) June 90.7 94.6

14:15 United Kingdom BOE Gov Mark Carney Speaks

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