Data

00:30 Japan BOJ Governor Haruhiko Kuroda Speaks

01:30 Australia Building Permits, m/m May +9.5% -0.9% -1.1%

01:30 Australia Building Permits, y/y May +28.8% -0.1% -3.2%

07:00 United Kingdom Halifax house price index June +0.5% +0.4% +0.6%

07:00 United Kingdom Halifax house price index 3m Y/Y June +2.6% +3.6% +3.7%

09:00 Eurozone GDP (QoQ) (Finally) Quarter I -0.2% -0.2% -0.3%

09:00 Eurozone GDP (YoY) (Finally) Quarter I -1.1% -1.1% -1.7%

11:00 United Kingdom Asset Purchase Facility 375 375 375

11:00 United Kingdom BoE Interest Rate Decision 0.50% 0.50% 0.50%

11:00 United Kingdom MPC Rate Statement

11:45 Eurozone ECB Interest Rate Decision 0.50% 0.50% 0.50%

Euro fell against the dollar, despite the early growth, after the Governing Council of the ECB decided to leave key interest rates unchanged, in line with the forecast. The ECB announced that the interest rate on the main refinancing operations, the rate of credit and deposit rate will remain unchanged at 0.50%, 1.00% and 0.00%, respectively.

Now the market's attention has shifted to the speech of the Bank, Mario Draghi, who will comment on the grounds of the decision at a press conference scheduled for 12.30 GMT.

Add that little support for the euro has had a voltage drop in Portugal, as the coalition government has made every effort to survive. According to analysts, it is important that the other two parties minister CDS, whose leader, Foreign Minister Portas yesterday resigned to remain in the government, thus maintaining the coalition. Thus, the risk of disorderly elections declined, but recent events have obviously weakened the Portuguese government.

Do not have a material impact on the bidding Eurostat data on GDP of the eurozone, according to which in the 1st quarter of 2013 euro area GDP seasonally adjusted reflected a decline of 0.3% q / q vs. 0.2% q / q in Q4 2012.

Pound declined significantly against the U.S. dollar, losing more than 180 points against the decision of the Bank of England. The first meeting of Mark Carney as chairman of the Monetary Policy Committee of the Bank of England completed an unusual warning that the high expectations among investors tightening does not guarantee economic development. The meeting ended without any change in the policy of the central bank amid signs that the recovery in the UK economy is gaining momentum.

The Bank of England interest rate remaining at 0.5% and the size of its bond purchase program was maintained at 375 billion pounds after a two-day meeting. The benchmark rate has been at 0.5% since March 2009. Committee has approved a new round of bond buying, also known as quantitative easing, a year ago.

In the retreat of its usual practice, when the policy has remained unchanged, the Bank of England issued a statement in which he said that the recovery is under way, and that he expects the annual inflation rate 2.0% in the future.

Monetary Committee also said that it can raise its key interest rate sooner than investors expected. "The implied rate of the Bank of England is not justified in view of recent developments in the domestic economy," - said the Monetary Committee. Minutes of the meeting will be released on July 17.

Recall that Carney on Monday became the first foreigner to head the Bank of England in its entire 319-year history. His arrival coincided with a series of economic reports and business research, which made it clear that the recovery is in the UK, at least for now.

EUR / USD: during the European session, the pair rose to $ 1.3016, and then fell to $ 1.2982

GBP / USD: during the European session, the pair had fallen to $ 1.5073

USD / JPY: during the European session, the pair is trading in the range of Y99.46-Y99.90

At 12:30 GMT will begin monthly press conference of the ECB.

U.S. celebrates Independence Day.

EUR/USD

Offers $1.3100/10, $1.3070-80, $1.3040/50

Bids $1.2980, $1.2930/20, $1.2905/00, $1.2885/80, $1.2860/50

GBP/USD

Offers $1.3295/400, $1.5355/65, $1.5340/50, $1.5295/05

Bids $1.5220/15, $1.5100, $1.5080/70

AUD/USD

Offers $0.9245/50, $0.9220/25, $0.9200, $0.9175/80, $0.9150

Bids $0.9075/70, $0.9050, $0.9000, $0.8950

EUR/GBP

Offers stg0.8630/40, stg0.8590/600, stg0.8540

Bids stg0.8500, stg0.8465/60, stg0.8445/40, stg0.8420

EUR/JPY

Offers Y131.00, Y130.50, Y129.85/90

Bids Y129.20, Y129.00, Y128.55/50

USD/JPY

Offers Y101.00, Y100.35/40, Y100.20/25

Bids Y99.40, Y99.25/20, Y99.00

AFT sold E7.99bln vs target E7.0bln-E8.0bln

- E5.36bln 1.75% May 2023 OAT; avg yield 2.32% (2.04%), cover 1.7 (1.61)

- E2.63bln 2.75% Oct 2027 OAT; avg yield 2.84% (2.58%), cover 2.75 (2.56)

Australia's building approvals dropped in May compared with the previous month, the latest figures from the Australia Bureau of Statistics showed Wednesday.

Total number of dwelling units approved in May fell 1.1 percent from a month earlier on a seasonally adjusted basis. This followed a 9.5 percent month-on-month growth recorded in April. Economists had predicted a 1 percent fall.

The number of private residential units approved, meanwhile, increased 2.5 percent month-on-month.

On an annual basis, overall building consents dropped 3.2 percent in May, data showed.

EUR/USD $1.2900, $1.2935, $1.3000, $1.3050, $1.3120, $1.3190

USD/JPY Y99.00, Y99.50, Y99.60, Y99.75, Y100.00, Y100.10, Y101.00

EUR/JPY Y130.25

GBP/USD $1.5150

EUR/GBP stg0.8500

USD/CHF Chf0.9600

AUD/USD $0.9050, $0.9070, $0.9150, $0.9200

00:30 Japan BOJ Governor Haruhiko Kuroda Speaks

01:30 Australia Building Permits, m/m May +9.5% -0.9% -1.1%

01:30 Australia Building Permits, y/y May +28.8% -0.1% -3.2%

The euro traded 0.6 percent from its weakest in more than a month before the European Central Bank meets today following recent comments from President Mario Draghi that monetary policy will stay accommodative. The central bank will keep its benchmark interest rate unchanged at a record low of 0.5 percent today, according to 61 of 62 forecasts in a Bloomberg News survey of economists.

The 17-nation currency fell for a second day against the yen after Portugal’s bonds slumped and two of the nation’s ministers resigned, reigniting concern Europe’s sovereign-debt crisis is worsening. With Portugal’s 10-year yield yesterday climbing above 8 percent for the first time since November, investors are seeking assurance from the ECB president that the central bank has no plans to end its current accommodative stance. Some economists are suggesting Draghi will go a step further and offer commitments on the path of interest rates.

The Dollar Index remained lower after declining yesterday from a one-month high ahead of a U.S. jobs report that may help signal whether the economy is strong enough for the Federal Reserve to pare back its bond purchases. The dollar remained lower versus its Japanese counterpart before a Labor Department report tomorrow that may show nonfarm payrolls in the world’s biggest economy increased by 165,000 jobs in June, a Bloomberg survey forecast. The unemployment rate is predicted to fall to 7.5 percent from 7.6 percent.

U.S. financial markets are closed today for the Independence Day holiday.

EUR / USD: during the Asian session the pair fell to $ 1.2985

GBP / USD: during the Asian session the pair fell to $ 1.5250

USD / JPY: during the Asian session the pair traded in the range of Y99.70/10

US markets are closed for the Independence Day holiday Thursday and there are only a few entries on the European calendar, albeit two the the bggest monthly set pieces - the ECB and BOE policy meetings. The only UK numbers set for publication are the June SMMT New Car Registrations expected at 0800GMT. At 1100GMT, the July BOE Monetary Policy Decision is expected. The meeting is new Bank of England Governor Mark Carney's first. Analysts are near unanimous in the belief that the July MPC meeting, whatever the views of Carney, will end with unchanged policy. The key decision making month is August, not July, and it would make littl sense, not least from a communications perspective, for the MPC to jump the gun. At its August meeting the MPC will have the updated quarterly economic forecasts that underpin that month's Inflation Report.

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3008 +0,20%

GBP/USD $1,5278 +0,81%

USD/CHF Chf0,9466 -0,40%

USD/JPY Y99,97 -0,67%

EUR/JPY Y130,04 -0,45%

GBP/JPY Y152,70 +0,16%

AUD/USD $0,9083 -0,68%

NZD/USD $0,7767 +0,06%

USD/CAD C$1,0502 -0,43%

00:30 Japan BOJ Governor Haruhiko Kuroda Speaks

01:30 Australia Building Permits, m/m May +9.5% Revised From 9.1% -0.9% -1.1%

01:30 Australia Building Permits, y/y May +28.8% Revised From +27.3% -0.1% -3.2%

07:00 United Kingdom Halifax house price index June +0.4% +0.4%

07:00 United Kingdom Halifax house price index 3m Y/Y June +2.6% +3.6%

09:00 Eurozone GDP (QoQ) Quarter I -0.2% -0.2%

09:00 Eurozone GDP (YoY) Quarter I -1.1% -1.1%

11:00 United Kingdom Asset Purchase Facility 375 375

11:00 United Kingdom BoE Interest Rate Decision 0.50% 0.50%

11:00 United Kingdom MPC Rate Statement

11:45 Eurozone ECB Interest Rate Decision 0.50% 0.50%

12:30 Eurozone ECB Press Conference

12:30 U.S. Bank holiday