The U.S. dollar traded lower against the most major currencies in the absence of any major economic reports in the U.S. Markets in the U.S. closed for the Memorial Day holiday.

The euro increased against the U.S. dollar after the speech of the European Central Bank President Mario Draghi. The European Central Bank President Mario Draghi signalled at new ECB annual conference in Sintra that the ECB will take action in June if the inflation should weaken.

The euro was also supported by the European parliament elections results in Greece and Italy.

The British pound traded slightly changed against the U.S. dollar in the absence of any major economic reports in the U.K. Comments by the Bank of England Deputy Governor Charles Bean supported the British currency. He said that the Bank of England could hike interest rates before next spring. Markets in the U.K. closed for a public holiday.

The Canadian dollar traded higher against the U.S. dollar. Friday’s better-than-expected consumer price index in Canada continued to weigh on the Canadian dollar. The consumer price index in Canada increase 0.3% in April (March: +0.6%), meeting analysts’ expectations. On a year-over-year rate, the consumer price index in Canada climbed 2.0% in April, from 1.5% in March.

The Canadian core consumer price index rose 0.2% in April (March: +0.3%), meeting analysts’ expectations. On a yearly basis, the Canadian core consumer price index climbed 1.4% in April, from a 1.3% increase in March.

The New Zealand dollar hits 1-month lows against the U.S. after the release of trade balance surplus from New Zealand, but later recovered all its losses. New Zealand's trade surplus dropped to NZ$534 million in April, from NZ$920 million in March. Analysts had expected the trade surplus to decline to NZ$667 million. Exports to China from New Zealand were the lowest since September. China is New Zealand’s second biggest trade partner.

The Australian dollar traded slightly higher against the U.S. dollar in the absence of any major economic reports in Australia.

The Japanese yen traded slightly higher against the U.S. dollar after the release of the Bank of Japan (BoJ) minutes. The BoJ minutes showed concerns over growth and inflation views. Three of the Bank of Japan's nine board members wanted the separate reviews of growth and inflation outlooks.

EUR/USD; $1.3600, $1.3620, $1.3630, $1.3650

USD/JPY; Y101.35, Y102.00, Y102.30

AUD/USD; $0.9270

AUD/NZD NZ$1.0900

USD/CAD C$1.0975

Economic calendar (GMT0):

00:00    United Kingdom     Bank holiday                                                  

00:00    U.S.                       Bank holiday                                                  

06:00    Germany               Gfk Consumer Confidence Survey         June      8.5         8.5          8.5

08:00    Eurozone               ECB President Mario Draghi Speaks

The U.S. dollar traded lower against the most major currencies in the absence of any major economic reports in the U.S. Markets in the U.S. closed for the Memorial Day holiday.

The euro increased against the U.S. dollar after the speech of the European Central Bank President Mario Draghi. The European Central Bank President Mario Draghi signalled at new ECB annual conference in Sintra that the ECB will take action in June if the inflation should weaken.

The British pound traded higher against the U.S. dollar in the absence of any major economic reports in the U.K. Markets in the U.K. closed for a public holiday.

EUR/USD: the currency pair climbed to $1.3648

GBP/USD: the currency pair increased to $1.6853

USD/JPY: the currency pair declined to Y101.86

The most important news that are expected (GMT0):

23:50    Japan                    CSPI, y/y            April      +0.7%

EUR/USD

Offers $1.3800, $1.3775, $1.3735, $1.3685/90

Bids $1.3600, $1.3550, $1.3525/20, $1.3500

GBP/USD

Offers $1.6950, $1.6930/35, $1.6900

Bids $1.6800, $1.6780, $1.6730

AUD/USD

Offers $0.9300, $0.9280, $0.9250

Bids $0.9200,  $0.9150, $0.9100

EUR/JPY

Offers Y140.00, Y139.75/80, Y139.50, Y139.20

Bids Y138.50, Y138.20, Y138.00, Y137.50

USD/JPY

Offers Y103.00, Y102.40, Y102.10

Bids Y101.50, Y101.05/00, Y100.80

EUR/GBP

Offers stg0.8170, stg0.8140, stg0.8120,

Bids stg0.8050, stg0.8035/30, stg0.8005/000

EUR/USD; $1.3600, $1.3620(VL), $1.3630, $1.3650

USD/JPY; Y101.35, Y102.00, Y102.30

AUD/USD; $0.9270

AUD/NZD NZ$1.0900

USD/CAD C$1.0975

The European Central Bank President Mario Draghi said at conference in Sintra, Portugal:

• The ECB monitors exchange rate and credit dynamics closely;
  
• Low level of harmonised consumer price index (HICP) in the Eurozone is caused by the strong euro;
  
• The ECB should monitor closely the negative inflationary spiral;
  
• The ECB could purchase assets in the case of weakening inflation;
  
• Low inflation will be last for a longer period of tome but gradually return to 2%.
  

Economic calendar (GMT0):

00:00    United Kingdom    Bank holiday                                                   

00:00    U.S.                      Bank holiday                                                   

06:00    Germany              Gfk Consumer Confidence Survey         June      8.5         8.5          8.5

08:00    Eurozone              ECB President Mario Draghi Speaks

The U.S. dollar traded mixed against the most major currencies. The U.S. currency was supported by the positive U.S. housing data, published on Friday. The U.S. new home sales increased 6.4% in April to a seasonally adjusted annual rate of 433,000 units. March's figure was revised up to 407,000 from 384,000. Analysts had expected a gain to 425,000.

Markets in the U.S. closed for the Memorial Day holiday.

The New Zealand dollar hits 1-month lows against the U.S. after the release of trade balance surplus from New Zealand. New Zealand's trade surplus dropped to NZ$534 million in April, from NZ$920 million in March. Analysts had expected the trade surplus to decline to NZ$667 million. Exports to China from New Zealand were the lowest since September. China is New Zealand’s second biggest trade partner.

The Australian dollar traded slightly higher against the U.S. dollar in the absence of any major economic reports in Australia.

The Japanese yen traded slightly higher against the U.S. dollar after the release of the Bank of Japan (BoJ) minutes. The BoJ minutes showed concerns over growth and inflation views. Three of the Bank of Japan's nine board members wanted the separate reviews of growth and inflation outlooks.

EUR/USD: the currency pair declined to $1.3615

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

23:50    Japan                    CSPI, y/y            April      +0.7%

EUR / USD

Resistance levels (open interest**, contracts)

$1.3777 (3260)

$1.3742 (4266)

$1.3690 (552)

Price at time of writing this review: $ 1.3618

Support levels (open interest**, contracts):

$1.3599 (2833)

$1.3584 (6379)

$1.3563 (3500)

Comments:

- Overall open interest on the CALL options with the expiration date June, 6 is 56873 contracts, with the maximum number of contracts with strike price $1,3850 (6343);

- Overall open interest on the PUT optionswith the expiration date June, 6 is 73732 contracts, with the maximum number of contractswith strike price $1,3500 (6679);

- The ratio of PUT/CALL was 1.30 versus 1.26 from the previous trading day according to data from May, 23

GBP/USD

Resistance levels (open interest**, contracts)

$1.7100 (1855)

$1.7001 (2727)

$1.6903 (2070)

Price at time of writing this review: $1.6835

Support levels (open interest**, contracts):

$1.6796 (1669)

$1.6698 (2394)

$1.6599 (1605)

Comments:

- Overall open interest on the CALL options with the expiration date June, 6 is 23555 contracts, with the maximum number of contracts with strike price $1,7000 (2727);

- Overall open interest on the PUT optionswith the expiration date June, 6 is 25155 contracts, with the maximum number of contracts with strike price $1,6700 (2542);

- The ratio of PUT/CALL was 1.07 versus 1.05 from the previous trading day according to data from May, 23

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

(pare/closed(GMT +2)/change, %)

EUR/USD $1,3629 -0,19%

GBP/USD $1,6830 -0,21%

USD/CHF Chf0,8951 +0,11%

USD/JPY Y101,96 +0,21%

EUR/JPY Y138,93 -0,01%

GBP/JPY Y171,60 0,00%

AUD/USD $0,9229 +0,08%

NZD/USD $0,8545 -0,21%

USD/CAD C$1,0863 -0,26%