Economic
calendar (GMT0):
00:00 Japan BOJ Governor Haruhiko Kuroda
Speaks
00:30 Australia Leading Index March 0.0% -0.5%
01:00 New Zealand ANZ Business Confidence May 64.8 53.5
01:30 Australia Construction Work Done Quarter I -1.1%
-0.3% +0.3%
05:45 Switzerland Gross Domestic Product (QoQ) Quarter
I +0.2%
+0.5% +0.5%
05:45 Switzerland Gross Domestic Product (YoY) Quarter I
+1.7% +2.1% +2.0%
06:00 Switzerland UBS Consumption Indicator April 1.84 1.72
06:45 France Consumer spending April +0.4%
+0.5% -0.3%
06:45 France Consumer spending, y/y April -1.2% -0.5%
07:55 Germany Unemployment Change May -25 -14 24
07:55 Germany Unemployment Rate s.a. May 6.7% 6.7%
6.7%
08:00 Eurozone M3 money supply, adjusted y/y
April +1.1% +1.2%
+0.8%
08:00 Eurozone Private Loans, Y/Y April -2.2% -2.1%
-1.8%
10:00 United
Kingdom CBI
retail sales volume balance May 30 36 16
The U.S.
dollar traded higher against the most major currencies. The U.S. currency was
still boosted by the better-than-expected U.S. economic data, published on
Tuesday. U.S. durable goods orders rose 0.8% in April, after a 2.9% gain in
March. The U.S. consumer confidence index climbed to 83.0 in May, from 81.7 in
April.
The euro
fell against the U.S. dollar after the release of the disappointing economic
data in the Eurozone. The number of people unemployed in Germany surged by
24,000 this month to 2.905 million. That was the largest increase in five years
in May. Analysts had expected a decline by 14,000.
The German
unemployment rate remained unchanged at 6.7%. This figure was expected by
analysts.
Consumer
spending in France fell 0.3% in April, after a 0.4% gain in March. Analysts had
expected a 0.5 increase. On a yearly basis, consumer spending in France dropped
0.5% in April, after a 1.2% fall in March.
Adjusted M3
money supply in the Eurozone climbed 0.8% in April, after a 1.1% increase in
March. Analysts had forecasted a 1.2% gain.
Private
loans in the Eurozone declined 1.8% in April (March: -2.2%), beating
expectations of a 2.1% fall.
Expectations
for further stimulus measures by the European Central Bank continued to weigh
on the euro.
The British
pound hits 2.5-week lows against the U.S. dollar due to the
weaker-than-expected U.K. retail sale volumes. The Confederation of British
Industry released the U.K. retail sale volumes on Wednesday. The U.K. retail
sale volumes dropped unexpectedly in May. The CBI retail sales volume balance
was +16 in May, from +30 in April. It means that retail sales volume climbed in
May from last year.
The Swiss
franc traded lower against the U.S. dollar. Switzerland's gross domestic
product climbed 0.5% in the first quarter (Q4 2013: +0.2%), meeting analysts’
expectations.
On a yearly
basis, Switzerland's gross domestic product rose 2.0% in the first quarter (Q4
2013: +1.7%), missing analysts’ expectations of a 2.1% gain.
EUR/USD:
the currency pair declined to $1.3604
GBP/USD:
the currency pair dropped to $1.6740
USD/JPY:
the currency pair traded mixed
The most
important news that are expected (GMT0):
23:50 Japan Retail sales, y/y April +11.0%
-3.2%
