Foreign exchange market. Asian session: Australian and New Zealand dollar dropped after the release China’s HSBC manufacturing purchasing managers’ index

Economic calendar (GMT0):

00:30    Australia                MI Inflation Gauge, m/m                          April      +0.2%                                               +0.4%

00:30    Australia                MI Inflation Gauge, y/y                            April      +2.7%                                               +2.8%

01:30    Australia                Building Permits, m/m                              March   -5.4%   Revised From -5.0%  +1.7%   -3.5%

01:30    Australia                Building Permits, y/y                                March   +23.2%                                              +20.0%

01:30    Australia                ANZ Job Advertisements (MoM)                April     +1.4%                                                +2.2%

01:45    China                    HSBC Manufacturing PMI (Finally)             April      48.3                                       48.4       48.1

08:30    Eurozone              Sentix Investor Confidence                      March   14.1                                       14.2       12.8

The U.S. dollar dropped against the most major currencies. The escalation of tensions in Ukraine has a significant negative impact on U.S. currency.

The New Zealand dollar decreased against the U.S. dollar. The decline of China’s HSBC manufacturing purchasing managers’ index was the reason for this price development. China’s HSBC manufacturing purchasing managers’ index dropped to 48.1 in April from 48.3 in March. Analysts expected an increase to 48.4. China is New Zealand's second biggest export partner.

The Australian dollar declined against the U.S. dollar after the release of China’s HSBC manufacturing purchasing managers’ index and Australia’s building permits. Building permits increased to -3.5% in March from -5.4% in February. February’s figure was revised down from -5.0%. The projected figure was an increase of 1.5%. Job advertisements in Australia were up 2.2% in April from 1.4% in March.

The Japanese yen rose for a second day against the U.S. dollar. The Bank of Japan Governor Haruhiko Kuroda told CNBC that Japan’s economic recovery is on track. His interview is damping speculation Japan’s central bank will add more quantitative stimulus measures.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair declined to Y101.85

The most important news that are expected (GMT0):

09:00    Eurozone           Producer Price Index, MoM         March   -0.2%   -0.2%   

09:00    Eurozone           Producer Price Index (YoY)        March   -1.7%   -1.8%   

09:00    Eurozone           European Commission Economic Growth Forecasts                                                    

09:00    Eurozone           Eurogroup Meetings                                                  

13:45    U.S.                   Services PMI (Finally)                 April      54.2      54.2      

14:00    U.S.                   ISM Non-Manufacturing             April      53.1      54.3