The euro
rose against the
U.S.
dollar, which in
part helped to data from the research center Sentix, which showed
that confidence among investors the euro zone improved in June,
registering with the second monthly increase in a row. According to
a report in the current month sentiment index rose to 11.6, up from
-15.6 in May. However, it is worth noting that the last result,
however, was slightly weaker than average forecasts of experts at
-11.3. In addition, it was reported that a sub-index, which
assesses the current situation in the euro area increased in June
to the level of -28.8, compared with -32.3 in May, while the
sub-index of expectations rose in particular to 7.3 from 2.8 in the
previous month. The data also showed that the sentiment index for
the euro zone's largest economy - Germany increased after two
consecutive declines in recent months. According to the report, the
sentiment index for Germany rose to 16.2 in June from 15.2 in
May.
The U.S. dollar rose against the Japanese yen after the upward revision outlook for the credit rating of the United States. Meanwhile, investors are waiting for the completion of the Bank of Japan. Agency Standard & Poor's upgraded the long-term outlook for the U.S. credit rating to "stable" from "negative", citing the strength of the economy and the currency of the United States. The yen began to weaken after the start of the two-day meeting of the Bank of Japan in Tokyo. Investors are waiting for the end of the meeting, to find out whether the central bank will take any new steps to ease monetary policy after it left policy unchanged at its previous meeting, held in late May.
The pound rose against the dollar in anticipation of tomorrow's report on industrial production. Recall that in March, the volume of industrial production increased by 0.7%, beating expectations with the majority of experts.
EUR/USD $1.3075, $1.3090, $1.3100, $1.3120, $1.3170, $1.3200
USD/JPY Y97.50, Y98.00, Y98.50, Y98.75, Y100.00
GBP/USD $1.5450, $1.5470, $1.5500, $1.5600
EUR/GBP stg0.8500
USD/CHF Chf0.9400
EUR/CHF Chf1.2350
AUD/USD $0.9400, $0.9470, $0.9500, $0.9600, $0.9650, $0.9675
USD/CAD C$1.0300
Data
00:00 China Bank holiday
05:00 Japan Consumer Confidence May 44.5 44.8 44.5
05:45 Switzerland Unemployment Rate May 3.1% 3.2% 3.2%
06:00 Japan Eco Watchers Survey: Current March 56.5 56.3 55.7
06:00 Japan Eco Watchers Survey: Outlook May 57.8 57.1 56.2
06:45 France Industrial Production, m/m April -0.6% +0.2% +2.2%
06:45 France Industrial Production, y/y April -2.5% -4.0% -0.5%
07:00 Eurozone ECB's Jens Weidmann Speaks
07:15 Switzerland Retail Sales Y/Y April -0.9% +2.5% +3.3%
The euro rose against the U.S. dollar, reaching a maximum at the same session, which partially helped the data from the research center Sentix, which showed that confidence among investors the euro zone improved in June, registering with the second monthly increase in a row. According to a report in the current month sentiment index rose to 11.6, up from -15.6 in May. However, it is worth noting that the last result, however, was slightly weaker than average forecasts of experts at -11.3. In addition, it was reported that a sub-index, which assesses the current situation in the euro area increased in June to the level of -28.8, compared with -32.3 in May, while the sub-index of expectations rose in particular to 7.3 from 2.8 in the previous month. The data also showed that the sentiment index for the euro zone's largest economy - Germany increased after two consecutive declines in recent months. According to the report, the sentiment index for Germany rose to 16.2 in June from 15.2 in May.
Add that investors are also expected to address by the President of the Federal Reserve Bank of St. Louis James Bullard. The official spoke today at an economic forum in Montreal. In May, Ballard said he would prefer to maintain the current rate of redemption of bonds as long as inflation is opaseniya.Zayavleniya Fed officials closely monitored markets in response to the growing expectations of the phasing out of the Central American program of quantitative easing.
The yen fell against the U.S. dollar, even despite the fact that the final data, which were presented yesterday by the Ministry of Finance of Japan, showed that in the first quarter, GDP grew slightly more than initially expected by experts. The report showed that, compared with the previous quarter, an increase of Japan's GDP in January-March was 1%. Earlier, the Ministry of Finance reported that economic growth in this period reached 3.5% in annual figures. But then, this estimate has been changed, because the investment in fixed assets decreased to a lesser extent than originally anticipated. Overall economic growth has been achieved primarily by increasing the amount of personal consumption, which in Japan accounted for approximately 60% of the gross domestic product. GDP has increased and because of the increase in exports, primarily to the United States and a number of Asian countries. In addition, it was reported that the annualized GDP growth was revised up to 4.1% compared with the prior reading of 3.5% and a 0.2% expansion in the previous three months. Commenting on the latest data, the Japanese Prime Minister Shinzo Abe said today that the economy may in his country will contribute to overcoming the negative effects of the global economy.
The pound was little changed against the dollar, as many market participants are waiting for tomorrow's report on industrial production. Recall that in March, the volume of industrial production increased by 0.7%, beating expectations with the majority of experts. In combination with a stronger-than-expected GDP growth in the first quarter, the growth of industrial production has a back pressure on the Bank of England to expand its asset purchase program. We expect that the UK economy will continue to grow, and the PMI will continue to move through the territory expansion. However, it is worth noting that, compared to the same period of the previous year the index of industrial production has been negative since April 2011, and the demand for British goods and services in Europe is currently suffering from the ongoing recession in the Eurozone. On this, until we see improvements in the rest of Europe, we should not expect significant growth in industrial production the UK.
EUR / USD: during the European session, the pair rose to $ 1.3229
GBP / USD: during the European session, the pair rose to $ 1.5548
USD / JPY: during the European session, the pair rose to Y99.00
At 12:15 GMT Canada is to release data on the number of Housing Starts in May. At 13:50 GMT we planned a member of the Federal Open Market Committee D. Bullard. At 19:00 GMT c address by a member of the board of the National Bank of Switzerland Jean-Pierre Danthine. At 22:00 GMT New Zealand will house price index for May from REINZ. At 23:50 GMT Japan will release the business conditions index for large manufacturers for the II quarter.
EUR/USD
Offers $1.3340/50, $1.3300/20, $1.3300, $1.3270/80
Bids $1.3178, $1.3180/70, $1.3150, $1.3100/090
GBP/USD
Offers $1.5700, $1.5640/50, $1.5620, $1.5595/605, $1.5585/90
Bids $1.5470/60, $1.5435/30, $1.5410/00, $1.5380/70
AUD/USD
Offers $0.9570/80, $0.9545/50, $0.9520/30, $0.9510/15, $0.9475-80
Bids $0.9355/50, $0.9330/20, $0.9300, $0.9275
EUR/JPY
Offers Y131.40/50, Y130.90/1.00, Y130.70/75
Bids Y129.00, Y128.60/50, Y126.19
EUR/GBP
Offers stg0.8595/600, stg0.8575/80, stg0.8560/65, stg0.8540/45, stg0.8525/30
Bids stg0.8475/70, stg0.8445/40, stg0.8420, stg0.8400
USD/JPY
Offers Y99.80, Y99.40/50, Y99.00
Bids Y97.75/70, Y97.50/40, Y97.30/20
EUR/USD $1.3075, $1.3090, $1.3100,
$1.3120, $1.3170, $1.3200
USD/JPY Y97.50, Y98.00, Y98.50, Y98.75, Y100.00
GBP/USD $1.5450, $1.5470, $1.5500, $1.5600
EUR/GBP stg0.8500
USD/CHF Chf0.9400
EUR/CHF Chf1.2350
AUD/USD $0.9400, $0.9470, $0.9500, $0.9600, $0.9650, $0.9675
USD/CAD C$1.0300
00:00 China Bank holiday
05:00 Japan Consumer Confidence May 44.5 44.8 44.5
05:45 Switzerland Unemployment Rate May 3.1% 3.2% 3.2%
06:00 Japan Eco Watchers Survey: Current March 56.5 56.3 55.7
06:00 Japan Eco Watchers Survey: Outlook May 57.8 57.1 56.2
The Dollar Index rose for a second day before Federal Reserve of St. Louis President James Bullard speaks today amid speculation the central bank will slow monetary stimulus as the economy improves. Fed Policy makers led by Chairman Ben S. Bernanke will trim their so-called quantitative easing program to $65 billion a month at the Oct. 29-30 meeting of the Federal Open Market Committee, from the current level of $85 billion, according to the median estimate of economists in a Bloomberg survey.
The Australian and New Zealand dollars dropped after Chinese imports fell, dimming the demand outlook for the South Pacific nations' exports. Shipments into China fell 0.3 percent in May from a year earlier, down from a 16.8 percent expansion in April, National Bureau of Statistics data showed on June 8.
EUR / USD: during the Asian session the pair was trading around $1.3190/30
GBP / USD: during the Asian session the pair traded in the range of $1.5520/60
USD / JPY: during the Asian session the pair traded in a range Y97.70/50
There is a fairly modest
calendar on Monday with limited releases on both sides of the
Atlantic, as the main economi releases are due later in the week.
The calendar gets underway at 0630GMT, with the release of the Bank
of France April business survey expected at 0630GMT. At 0645GMT,
the April industrial output data is set for release. The Italian
industrial output numbers are due for release at 0800GMT. More
Italian data is expected at 0900GMT, with the firt quarter GDP
numbers set to cross the wires. At 1000GMT, the OECD leading
indicators will be released. At 1900GMT, at the same Montreal
conference, ECB Governing Council members Luis Linde, Carlos da
Silva Costa and SNB board member Jean-Pierre Danthine will
speak.
00:00 China Bank holiday
05:00 Japan Consumer Confidence May 44.5 44.8
05:45 Switzerland Unemployment Rate May 3.1% 3.2%
06:00 Japan Eco Watchers Survey: Current March 56.5 56.3
06:00 Japan Eco Watchers Survey: Outlook May 57.8 57.1
06:45 France Industrial Production, m/m April -0.9% +0.2%
06:45 France Industrial Production, y/y April -2.5% -4.0%
07:00 Eurozone ECB's Jens Weidmann Speaks
07:15 Switzerland Retail Sales Y/Y April -0.9% +2.5%
12:15 Canada Housing Starts May 175 179
13:50 U.S. FOMC Member James Bullard Speaks
19:00 Switzerland Gov Board Member Danthine Speaks
23:01 United Kingdom RICS House Price Balance May 1% 2%
23:50 Japan BSI Manufacturing Index Quarter II -4.6 -2.1