American focus: the dollar rose

The US dollar rose against most major currencies after data on consumer sentiment. The final results of the studies submitted by Thomson-Reuters and the Institute of Michigan, showed in June, American consumers are feeling more optimistic about the economy than last month. According to published data, in June consumer sentiment index rose to 96.1 points compared to the final reading for May at around 90.7 points and a preliminary value of 94.6 points in June. According to experts the average index was up 94.6 points.

The final index of current conditions in the month reached 108.9 against a final figure of 100.8 in May. The expectations index was 87.8 against 84.2. Despite the recovery in prices for gasoline and eggs, consumers still hold relatively moderate inflation. According to University of Michigan final index of inflation expectations for the year ahead in June fell to 2.7% against 2.8% in May. The final index of inflation expectations for the next five years reached 2.6% against 2.8%.

The euro accelerated losses against the dollar on the news on Greece. According to media reports, the Greek Government has rejected a proposal to extend the term of the financial assistance program for 5 months. The proposal included the extension of the program until the end of November, and voiced the amount of 15.5 bn. Euros (8.7 billion. Euros from the European Fund, 3.3 billion. Euros within the SMP and 3.5 billion. Euros from the IMF). However, according to reports, the situation is quite unfortunate. Greek Prime Tsipras previously accused of blackmail creditors Greece. The Greek government wants to conclude a long-term agreement, and not get a reprieve until November. According to sources in Greece, recent proposals have been called inappropriate. The main thing is that the agreement does not allow Greece to escape from the vicious circle of "austerity measures". The next meeting of the Eurogroup is scheduled for Saturday 12:00 GMT.

Little impact on the single currency also had data on the euro zone. A report published by the ECB showed that the growth rate of monetary aggregate M3 slowed to 5.0% in May against 5.3% in April. Experts expect that this figure will increase by 5.4%. In the period from March to May, the average annual growth rate of M3 was 5.0% compared with + 4.7% in the previous three months (February to April). Meanwhile, the ECB reported that the growth rate of credit to the government accelerated to 4.0% from 3.8% in April, while the rate of lending to the private sector increased to 0.2% versus 0.0% in the previous month. Lending to the private sector accelerated to 0.5% in May against 0.0% in the previous month. The annual growth rate of lending to households was 0.9% compared to 0.0% in April. The growth rate of lending for house purchase has accelerated to 1.4% in May from 0.1% in the previous month.

The yen fell against the dollar after rising earlier in the day. Earlier, the yen has supported the positive macroeconomic statistics in Japan. According to the data released today, core consumer price index in Japan rose in May by 0.1% compared with the same period of the previous year after, in April remained unchanged. Economists expected the index to remain unchanged. However, the national consumer price index excluding prices for food and energy prices in annual terms fell from the previous value of 2.2% to 0.4% key indicator of inflation in Japan rose in May for the first time in two months. It is likely to reinforce expectations for what the Bank of Japan will refrain from further action. We also learned that household spending in May rose by 4.8% adjusted for price changes. This is the first increase in the index for 14 months. Previous value of the index was -1.3%, the analysts forecast an increase of 3.4%. The unemployment rate in May remained unchanged at 3.3%, and the ratio of jobs to applicants peaked in March, 1992 - 1.19. This means that for every 100 applicants were free to 119 jobs.