The yen strengthened against most of the most traded currencies, as investors sought a safe haven amid falling appetite for risk, which resulted in the sale of stocks and commodities.

The Japanese currency rose after the previous head of the Central Bank Haruhiko Kuroda said that the global economy is still reeling from the effects of the global financial crisis that began five years ago. Kuroda also warned that no country is immune from the repetition of the crisis in the future. "Even if we were able to ascertain the stability of the financial system at the current time, it is unlikely to last forever. Financial crisis could break out beyond the horizon of our forecasts," - said Kuroda. In his view, the creation of a new financial system "is not easy" because no economy can not simultaneously maintain the mobility of capital and financial stability, while carrying out the task of financial policy. "I am convinced, serious problems related to the crisis, will give us new ideas and help create a new and better world" - said Kuroda. Recall that the current Bank of Japan holds sverhstimuliruyuschuyu program, under which buys bonds by more than 7 trillion yen a month. In this case, the regulator seeks to expand the monetary base. It is expected that the figure will rise to 60-70 trillion yen per year.

The euro exchange rate rose sharply earlier against the U.S. dollar today as the published data on lending in the euro area, pointed to the steady growth in deposits and a weak lending in the corporate sector, which supports a program of asset purchases. It is worth noting that in the three months to April, the growth rate of the M3 money aggregate amounted to 3% by repeating the March result. Analysts were expecting a slight slowdown to 2.9%. The annual equivalent rate M3 grew by 3.2% against 2.6% the previous result and the forecast of 2.9%. The volume of private lending fell by 0.9% y / y vs. -0.7% of the previous month, confirming the prediction.

Add that did not prevent the growth of the euro even weak data on Germany. According to the report, the seasonally adjusted number of unemployed rose this month to 21,000 since April. It is also worth noting that according to the average forecasts of experts, the number of unemployed would grow by 4,000 people, compared with an increase of 6000 (revised 4000), which were recorded in the last month. The Agency for Labour noted that the labor market in Germany remains "solid" despite the difficult economic background, and the spring of this year, has not led to the revival of the normal labor market. Neglecting seasonal effects, the total number of unemployed fell in May by 83,000, reaching at the same level of 2,973,000. In addition, the report showed that the unadjusted unemployment rate was at 6.8% from 7.1% in April. The unemployment rate for movements remained unchanged at 6.9% in May. Nevertheless, the German labor market is strong, despite the deep recession in the euro area, where the unemployment rate in March was an average of 12.1%.

European stocks fell, after the Stoxx Europe 600 Index rallied the most in a month, on concern that the U.S. Federal Reserve will reduce debt purchases as the world's biggest economy strengthens.

German unemployment in May rose more than four times as much as economists estimated as the euro area's sovereign debt crisis and a long winter took their toll on Europe's largest economy.

The number of people out of work climbed a seasonally adjusted 21,000 to 2.96 million, the Nuremberg-based Federal Labor Agency said today. That's the fourth straight monthly gain. Economists had predicted an increase of 5,000, according to the median of 35 estimates in a survey. The adjusted jobless rate held at 6.9 percent, just above a two-decade low of 6.8 percent.

The International Monetary Fund lowered its forecasts for China's growth to about 7.75 percent this year and next. In April, the IMF predicted growth of 8 percent this year and 8.2 percent in 2014.

National benchmark indexes declined in all 18 western-European markets today. The U.K.'s FTSE 100 retreated 2 percent, Germany's DAX lost 1.7 percent and France's CAC 40 dropped 1.9 percent.

Peugeot slid 4.2 percent to 7.05 euros. The carmaker is discussing an eventual capital increase, La Tribune reported, citing an unidentified person close to the matter. The Peugeot family has discussed what percentage of dilution would be acceptable for them, according to the newspaper.

H&M slipped 2.5 percent to 232.60 kronor in Stockholm. Goldman Sachs downgraded its rating on the shares to sell from neutral, with analyst Franklin Walding saying profitability at Europe's second-largest clothing retailer will suffer as customers shift to online shopping.

De La Rue Plc, the world's largest banknote printer, fell 4.1 percent to 946 pence, its biggest decline in six months. Revenue dropped to 484 million pounds in the full year through March, less than the 509 million-pound profit analysts had predicted.

West Texas Intermediate crude fell as the International Monetary Fund cut economic growth projections for China, the world’s biggest energy-consuming country, and on concerns that the Federal Reserve will pare debt purchases.

Futures dropped as much as 1.9 percent after the IMF said China will expand about 7.75 percent this year and next. The U.S. is due to sell $35 billion of five-year notes today after a two-year auction yesterday drew the fewest bids since February 2011. That was the first offering since Fed Chairman Ben S. Bernanke said last week the central bank could curb the pace of its purchases if the economy improves. OPEC won’t change its output target this week, delegates said.

WTI crude for July delivery declined $1.28, or 1.3 percent, to $93.73 a barrel at 11:27 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 10 percent above the 100-day average for this time of day.

Brent oil for July settlement fell $1.16, or 1.1 percent, to $103.07 a barrel on the London-based ICE Futures Europe exchange. Volume for all contracts was 18 percent lower than the 100-day average.

The European benchmark grade traded at a $9.34 premium to WTI futures. The spread ended yesterday at $9.22, the widest based on closing prices since May 15.

Gold advanced for the first time in three sessions as lower prices lured buyers of the physical metal amid an extended drop in holdings of exchange-traded products. Silver also gained.

Gold demand in India, the world's largest buyer, is heading for a quarterly record as imports reach 300 to 400 metric tons, the World Gold Council said in a report today. That's equal to almost half of the total shipments for all of last year. Assets in ETPs backed by the metal have shrunk 18 percent this year, reaching the lowest since June 2011 as some investors lost faith in the metal amid an improving economic outlook and concern that the Federal Reserve may slow the pace of stimulus measures.

Gold futures for August delivery climbed 0.2 percent to $1,383 an ounce at 10:04 a.m. on the Comex in New York. Yesterday, prices slipped 0.6 percent after topping $1,400.

EUR/USD $1.2800, $1.2900, $1.2945, $1.2950, $1.3000

USD/JPY Y102.00, Y102.50, Y102.90, Y103.50

GBP/USD $1.5165, $1.5200, $1.5300

EUR/CHF Chf1.2500

AUD/USD $0.9600, $0.9685, $0.9730, $0.9800

NZD/USD $0.8100, $0.8150

U.S. stock futures fell amid concern that the Federal Reserve may begin to taper its debt-buying program.

Global Stocks:

Nikkei 14,326.46 +14.48 +0.10%

Hang Seng 22,554.93 -369.32 -1.61%

Shanghai Composite 2,324.02 +2.70 +0.12%

FTSE 6,660.51 -101.50 -1.50%

CAC 3,997.64 -52.92 -1.31%

DAX 8,351.16 -129.71 -1.53%

Crude oil $94.36 -0.68%

Gold $1386.60 +0.56%

Data

00:00 Japan BOJ Governor Haruhiko Kuroda Speaks

00:30 Australia Leading Index March +0.6% +0.2%

01:00 Australia HIA New Home Sales, m/m April +4.2% +3.9%

01:30 Australia Construction Work Done Quarter I -0.1% +1.1% -2.0%

06:00 Switzerland UBS Consumption Indicator April 1.25 1.46

07:55 Germany Unemployment Change May 6 4 21

07:55 Germany Unemployment Rate s.a. May 6.9% 6.9% 6.9%

08:00 Eurozone M3 money supply, adjusted y/y April +2.6% +2.9% +3.2%

09:00 Eurozone OECD Economic Outlook May

09:30 United Kingdom MPC Member Bean Speaks

10:00 United Kingdom CBI retail sales volume balance May -1 4 -11

12:00 Germany CPI, m/m (Preliminary) May -0.5% +0.2% +0.4%

12:00 Germany CPI, y/y (Preliminary) May +1.2% +1.3% +1.5%

The euro exchange rate has risen sharply against the U.S. dollar today as the published data on lending in the euro area, pointed to the steady growth in deposits and a weak lending in the corporate sector, which supports a program of asset purchases. It is worth noting that in the three months to April, the growth rate of the M3 money aggregate amounted to 3% by repeating the March result. Analysts were expecting a slight slowdown to 2.9%. The annual equivalent rate M3 grew by 3.2% against 2.6% the previous result and the forecast of 2.9%. The volume of private lending fell by 0.9% y / y vs. -0.7% of the previous month, confirming the prediction.

Add that did not prevent the growth of the euro even weak data on Germany. According to the report, the seasonally adjusted number of unemployed rose this month to 21,000 since April. It is also worth noting that according to the average forecasts of experts, the number of unemployed would grow by 4,000 people, compared with an increase of 6000 (revised in 4000), which were recorded in the last month.

The Agency for Labour noted that the labor market in Germany remains "solid" despite the difficult economic background, and the spring of this year, has not led to the revival of the normal labor market. Neglecting seasonal effects, the total number of unemployed fell in May by 83,000, reaching 2,973,000 at the same level.

In addition, the report showed that the unadjusted unemployment rate was at 6.8% from 7.1% in April. The unemployment rate for movements remained unchanged at 6.9% in May. Nevertheless, the German labor market is strong, despite the deep recession in the euro area, where the unemployment rate in March was an average of 12.1%.

The Australian dollar rose against the U.S. dollar, thus restoring all of the losses incurred in early trading. Partly influenced by the dynamics of trading information that the International Monetary Fund cut its forecast for economic growth in China in 2013 to the level of 7.75 percent, compared with the initial estimate of 8 per cent .. In the report of the organization stated that the reason for the decline was forecast unstable situation in the world economy and the decline in demand for Chinese goods exports. But if the slowdown in China's economy is stronger than forecast in the IMF, the IMF experts advise Beijing to stimulate GDP growth tax cuts. Recall that another leading international financial institution - the World Bank - predicts China's growth in 2013 at 8.3 percent. Earlier, JP Morgan Chase Bank has lowered the forecast for economic growth in China in 2013 to 7.8 percent, after the country's GDP growth in the quarter, I did not meet the expectations of experts.

The Japanese currency rose against the U.S. dollar, which helped the comments of the Bank of Japan Kuroda, who noted that the global economy is still reeling from the effects of the global financial crisis that began five years ago. Kuroda also warned that no country is immune from the repetition of the crisis in the future. "Even if we were able to ascertain the stability of the financial system at the current time, it is unlikely to last forever. Financial crisis could break out beyond the horizon of our forecasts," - said Kuroda. In his view, the creation of a new financial system "is not easy" because no economy can not simultaneously maintain the mobility of capital and financial stability, while carrying out the task of financial policy. "I am convinced, serious problems related to the crisis, will give us new ideas and help create a new and better world" - said Kuroda.

Recall that the current Bank of Japan holds sverhstimuliruyuschuyu program, under which buys bonds by more than 7 trillion yen a month. In this case, the regulator seeks to expand the monetary base. It is expected that the figure will rise to 60-70 trillion yen per year.

EUR / USD: during the European session, the pair rose to $ 1.2975

GBP / USD: during the European session, the pair rose to $ 1.5118

USD / JPY: during the European session, the pair fell Y100.95

At 14:00 GMT we will know the decision of the Bank of Canada Interest Rate for May. At 14:00 GMT in Canada will cover the application of the Bank of Canada. At 17:00 GMT the U.S. FOMC member Eric Rosengren will speak. At 22:45 GMT New Zealand will announce the change in the volume of building permits issued in April.

EUR/USD

Offers $1.3050, $1.3000, $1.2920/25, $1.2900/10

Bids $1.2830, $1.2820/00, $1.2790

GBP/USD

Offers $1.5175, $1.5150/60, $1.5100/10, $1.5070/80

Bids $1.5000, $1.4985/80, $1.4960/50, $1.4910/00

AUD/USD

Offers $0.9695/00, $0.9665/70, $0.9650, $0.9615/20, $0.9600

Bids $0.9500, $0.9450, $0.9400, $0.9365/60

EUR/JPY

Offers Y132.55 24, Y132.50, Y132.20, Y132.00, Y131.55/60

Bids Y130.55/50, Y130.43/42, Y130.20, Y130.00

USD/JPY

Offers Y103.20, Y103.05/10, Y103.00, Y102.60/70, Y102.10/20

Bids Y101.55/50, Y101.30/20, Y101.00, Y100.85/80

European stocks fell, after the Stoxx Europe 600 Index rallied the most in a month, on concern that the Federal Reserve will reduce debt purchases as the economy strengthens. U.S. stock index futures dropped, while Asian shares advanced.

The Stoxx 600 retreated 1 percent to 305.06 at 9:57 a.m. in London. The equity benchmark is still heading for a 2.8 percent advance in May, its 12th monthly gain and longest streak since 1997. It has rallied 9.1 percent so far this year, bolstered by central-bank monetary stimulus.

The Fed buys $85 billion of Treasury and mortgage debt a month to support the economy by putting downward pressure on interest rates. Chairman Ben S. Bernanke said on May 22 the central bank may cut the pace of buying "in the next few meetings" if economic conditions improve.

German unemployment in May rose more than four times as much as economists estimated as the euro area's sovereign debt crisis and a long winter took their toll on Europe's largest economy.

The number of people out of work climbed a seasonally adjusted 21,000 to 2.96 million, the Nuremberg-based Federal Labor Agency said today. That's the fourth straight monthly gain. Economists had predicted an increase of 4,000, according to the median of estimates. The adjusted jobless rate held at 6.9 percent, just above a two-decade low of 6.8 percent.

The International Monetary Fund lowered its forecasts for China's growth to about 7.75 percent this year and next. In April, the IMF forecast growth of 8 percent this year and 8.2 percent in 2014.

Peugeot (UG) slid 3.1 percent to 7.13 euros. The carmaker is discussing an eventual capital increase, La Tribune reported, citing an unidentified person close to the matter. The Peugeot family has discussed what percentage of dilution would be acceptable for them, according to the newspaper. Pierre-Olivier Salmon, a spokesman at the company, declined to comment.

Kazakhmys Plc slumped 3 percent to 324 pence and Evraz declined 2.7 percent to 140 pence. The commodity producers will be removed from the Stoxx 600 from before the start of trading on June 24, according to a statement late yesterday.

H&M slipped 1.8 percent to 234.30 kronor in Stockholm. Goldman Sachs downgraded its rating on the shares to sell from neutral, with analyst Franklin Walding saying profitability at Europe's second-largest clothing retailer will suffer as customers shift to online shopping.

De La Rue Plc, a supplier of cash-handling equipment and security products, fell 1.1 percent to 975 pence. Revenue declined to 484 million pounds in the full year through March, less than the 509 million-pound profit analysts surveyed by Bloomberg had predicted.

FTSE 100 6,681.48 -80.53 -1.19%

CAC 40 4,009.56 -41.00 -1.01%

DAX 8,392.88 -87.99 -1.04%

EUR/USD $1.2800, $1.2900, $1.2945, $1.2950, $1.3000

USD/JPY Y102.00, Y102.50, Y102.90, Y103.50

GBP/USD $1.5165, $1.5200, $1.5300

EUR/CHF Chf1.2500

AUD/USD $0.9600, $0.9685, $0.9730, $0.9800

NZD/USD $0.8100, $0.8150

Most Asian stocks rose for a second day as reports showed U.S. consumer confidence increased to the highest level since 2008 and home values jumped the most in seven years. Japanese utilities climbed.

Nikkei 225 14,326.46 +14.48 +0.10%

S&P/ASX 200 4,974.7 +4.05 +0.08%

Shanghai Composite 2,325.2 +3.89 +0.17%

Nissan Motor Co., a Japanese carmaker that gets 79 percent of its revenue abroad, added 1.2 percent in Tokyo.

Tohoku Electric Power Co. surged 22 percent, leading power companies to the biggest advance on Japan's Topix index.

Korea Electric Power Corp. lost 5.1 percent in Seoul as brokerages from Daishin Securities to Shinyong Securities cut price forecasts on shares of the state-owned firm, saying suspended operations at some nuclear reactors may reduce profit.

00:00 Japan BOJ Governor Haruhiko Kuroda Speaks

00:30 Australia Leading Index March +0.6% +0.2%

01:00 Australia HIA New Home Sales, m/m April +4.2% +3.9%

01:30 Australia Construction Work Done Quarter I -0.1% +1.1% -2.0%

The Dollar Index rose for a second day before U.S. data tomorrow on first-quarter growth amid speculation the Federal Reserve will curb monetary stimulus. The U.S. Commerce Department is likely to say tomorrow the world's biggest economy grew at an annualized 2.5 percent pace in the first quarter, according to the median forecast of economists surveyed by Bloomberg News. It would be unchanged from the preliminary reading released last month.

The Australian dollar fell to the weakest level since October 2011 after the International Monetary Fund cut its growth forecast for China. China's economy will grow about 7.75 percent this year and next, David Lipton, first deputy managing director of the IMF, said today at a press briefing in Beijing after concluding an annual review of the country. In April, the IMF forecast growth of 8 percent this year and 8.2 percent expansion in 2014.

A gauge of Asian currencies touched an almost eight-month low on concern investors will repatriate funds from emerging markets back to the U.S.

EUR / USD: during the Asian session the pair traded in the range of $ 1.2840-65

GBP / USD: during the Asian session the pair is trading around $ 1.5025

USD / JPY: during the Asian session the pair traded in the range of Y102.00-50

European Commission's publication of country-specific policy recs, ECB Stability Review and OECD economic outlook in focus. EZ M3 due at 0800GMT ahead of Germany CPI at 1200GMT. BOE Bean at 0930GMT the early focus.

Change % Change Last

GOLD 1,380.10 -6.50 -0.47%

OIL (WTI) 95.10 0.95 1.01%

Change % Change Last

Nikkei 225 14,311.98 +169.33 +1.20%

S&P/ASX 200 4,970.7 +10.84 +0.22%

Shanghai Composite 2,317.14 +24.07 +1.05%

FTSE 100 6,762.01 +107.67 +1.62%

CAC 40 4,050.56 +55.40 +1.39%

DAX 8,480.87 +97.57 +1.16%

DJIA 15,409.40 106.29 0.69%

S&P 500 1,660.06 10.46 0.63%

NASDAQ 3,488.89 29.74 0.86%

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

EUR/USD $1,2855 -0,61%

GBP/USD $1,5029 -0,54%

USD/CHF Chf0,9750 +1,29%

USD/JPY Y102,21 +1,13%

EUR/JPY Y131,40 +0,53%

GBP/JPY Y153,59 +0,58%

AUD/USD $0,9563 -0,74%

NZD/USD $0,8072 -0,16%

USD/CAD C$1,0408 +0,69%

00:00 Japan BOJ Governor Haruhiko Kuroda Speaks

00:30 Australia Leading Index March +0.6%

01:00 Australia HIA New Home Sales, m/m April +4.2%

01:30 Australia Construction Work Done Quarter I -0.1% +1.1%

06:00 Switzerland UBS Consumption Indicator April 1.25

07:55 Germany Unemployment Change May 4 4

07:55 Germany Unemployment Rate s.a. May 6.9% 6.9%

08:00 Eurozone M3 money supply, adjusted y/y April +2.6% +2.9%

09:00 Eurozone OECD Economic Outlook May

09:30 United Kingdom MPC Member Bean Speaks

10:00 United Kingdom CBI retail sales volume balance May -1 4

12:00 Germany CPI, m/m (Preliminary) May -0.5% +0.2%

12:00 Germany CPI, y/y (Preliminary) May +1.2% +1.3%

14:00 Canada Bank of Canada Rate 1.00% 1.00%

14:00 Canada BOC Rate Statement

17:00 U.S. FOMC Member Rosengren Speaks

20:30 U.S. API Crude Oil Inventories May +0.5

22:45 New Zealand Building Permits, m/m April -9.1%