Market news
27.05.2011, 07:37

Asian session: The dollar weakened

The dollar weakened for a second day against the euro and the yen before reports that economists said will show U.S. consumer spending slowed in April and pending home sales declined.
The U.S. currency declined on speculation slowing growth will deter the Federal Reserve from raising interest rates until next year.
The euro fell for a sixth day against the Swiss franc as European officials clashed over how to resolve Greece’s debt woes. 
New Zealand’s dollar strengthened to a three-year high on speculation China will buy the South Pacific nation’s assets.
New Zealand’s dollar rose to the highest since March 2008 after Finance Minister Bill English said China Investment Corp., a sovereign wealth fund, has expressed interest in buying his country’s government bonds at auction.

EUR/USD: the pair shown high in the field of $1.4280. 
GBP/USD: the pair become stronger in around $1.6450.
USD/JPY: the pair decreased below mark Y81.00.

EMU data includes the May business climate indicator and economic sentiment survey.
US data starts at 1230GMT when personal income is expected to rise 0.4% in April, as payrolls rose 244,000, hourly earnings rose 0.1% and the average workweek was unchanged at 34.3 hours. PCE is expected to rise 0.5%, as retail sales rose 0.5% and sales were up 0.6% excluding autos. The core PCE price index is forecast to rise 0.2% after the 0.1% rise in March. At 1355GMT, the Michigan Sentiment Index is expected to be unrevised at a reading of 72.4 in May. US data then rounds off with 
the 1400GMT release of NAR Pending Home Sales.

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