Data released (actual, consensus, previous):
01:45 CN CNY HSBC Manufacturing PMI (Jun)Preliminar 48.3 49.4 49.2
04:30 CH CHF SNB Financial Stability Report
05:00 JP JPY Leading Economic Index (Apr) 99.0 97.7
05:00 JP JPY Coincident Index (Apr) 95.3 94.6
06:00 DE EUR Producer Price Index (MoM) (May) -0.3% -0.1% -0.2%
06:00 DE EUR Producer Price Index (YoY) (May) 0.2% 0.3% 0.1%
06:00 CH CHF Trade Balance (May) 2,224M 2,410M 1,698M
07:28 DE EUR Markit Manufacturing PMI (Jun)Preliminar 48.7 49.8 49.4
07:28 DE EUR Markit Services PMI (Jun)Preliminar 51.3 50.0 49.7
07:30 CH CHF SNB Interest Rate Decision (Jun 20) 0% 0% 0%
07:58 EMU EUR Markit Manufacturing PMI (Jun)Preliminar 48.7 48.6 48.3
07:58 EMU EUR Markit PMI Composite (Jun)Preliminar 48.9 48.1 47.7
08:30 UK GBP Retail Sales (YoY) (May) 1.9% 0.2% 0.8%
08:30 UK GBP Retail Sales (MoM) (May) 2.1% 0.8% -1.1%
08:30 UK GBP Retail Sales ex-Fuel (MoM) (May) 2.1% 0.9% -1.2%
08:30 UK GBP Retail Sales ex-Fuel (YoY) (May) 2.1% 0.5% 0.6%
The dollar strengthened versus most of its major peers after Federal Reserve Chairman Ben S. Bernanke flagged the case for reduced monetary stimulus if U.S. data keeps improving.
Stocks markets declined after Chinese manufacturing
contracted and the prospect of reduced stimulus damped demand for
higher-yielding assets before U.S. manufacturing and housing reports.
The Dollar Index, which IntercontinentalExchange Inc. uses
to monitor the greenback against the currencies of six U.S. trade
partners, gained 0.5% to 81.793.
The Federal Open Market Committee yesterday left the
monthly pace of bond purchases unchanged at $85 billion, saying that
“downside risks to the outlook for the economy and the labor market”
have diminished. Policy makers raised their growth forecasts for next
year to a range of 3 percent to 3.5 percent and reduced their outlook
for unemployment to as low as 6.5 percent.
EURO:
remain under pressure after yesterday’s selloff caused by
Bernanke’s speech. Federal Reserve Chairman said the central bank could
reduce its bond-buying this year and end it next year if economic
improvement continues.
Weak European PMI data added pressure on the common currency.
EUR/USD support is around $1.3230 and $1.3170 (Jun 10
lows). Above $1.3300 and $1.3400 (initial resistance, Jan 14 highs)
resistance comes at $1.3480, then - near $1.3540 (channel resistance
line from May 29).
POUND:
U.K. retail sales including fuel rose by 2.1% last month after slipping by 1.3% in Aprily.
Sterling has strengthened 3.3% in the past three months,
the best performer after the euro among 10 developed-market currencies.
Europe’s common currency gained 3.5% and the dollar advanced 0.8%.
GBP/USD bounced back to the session high $1.5490 after
unexpectedly strong retail sales data. Initial resistance comes at
recent high on $1.5670, extending to channel line at $1.5730. Next
resistances could be found at $1.5765 (Feb 7 high) and $1.5800
(psychological level). Break under session’s lows will widen losses to
$1.5380 (June 6 base and 50% of $1.5006-$1.5750).
YEN:
USD/JPY remain above Y98.00. The upside move is targeting
Y98.80, for a close above Y99.00 and to reach the psychological Y100.00
the June highs. Minor support placed at Y96.00, ahead of Y95.00
COMMODITY CURRENCIES:
AUSSIE: dropped for a fifth day amid the prospect of
reduced Fed stimulus and after HSBC Holdings Plc and Markit Economics
said the preliminary reading of their Purchasing Managers’ Index for
China’s manufacturing was at 48.3 in June, below the 49.1 estimated by
economists in a Bloomberg survey. A reading below 50 indicates
contraction.
DATA AHEAD:
At 14:00 GMT US CB Leading Indicator, as well as Existing Home Sales
data and Philadelphia Fed Manufacturing Survey are expected.
Комментариев нет:
Отправить комментарий