Data released (actual, consensus, previous):
12:30 GMT USA Initial Jobless Claims 346K 345K 355K
12:30 GMT USA Continuing Jobless Claims 2.965M 2.950M 2.966M
14:00 GMT USA Pending Home Sales (YoY) (May) 12.1% _ 10.3%
14:00 GMT USA Pending Home Sales (MoM) (May) 6.7% 1.0% -0.5%
The U.S. dollar rose against most of its major rivals on Thursday.
Pending home sales for May rose 6.7%, which was better than
the 1.5% increase forecast by the Briefing.com consensus. Today's
reading follows last month's rise of 0.3%.
Earlier the Commerce Department reported consumer spending
in the U.S. rose 0.3% in May and wages advanced 0.5%. Separately, the
U.S. Department of Labor reported those filing for state unemployment
benefits declined by 9,000 to 346,000 last week.
EURO:
The euro gained against the dollar as economic confidence
in the countries that share the currency improved more than economists
predicted.
The European Commission in Brussels said an index of
executive and consumer sentiment rose to 91.3 from 89.5 in May.
Economists had forecast a reading of 90.4 for June.
Separate report showed German unemployment numbers for June
dropped unexpectedly by 12K in June after it rose 17K in May. The
Unemployment Rate remained at 6.8% in June.
The euro rallied from near a three-week low against the
dollar as European Union finance chiefs struck an agreement on how to
deal with failing banks.
Greece`s plan to privatize the national lottery and
gambling company, Opap, may collapse, the FT reports. The €700m deal is
part of the country`s bailout. There was only one offer. Greece is
expected to raise €2.6bn this year via privatizations.
EUR/USD holds above $1.3000 with initial
support comes at recent lows on $1.2980. Below support comes at $1.2960
(Apr 24 and Jun 3 lows) и $1.2840 (May 29 lows). Key support remains at
$1.2800 (May 17 low). Resistance comes at $1.3060 (yesterday’s hourly
highs and Jun 24 lows). Above gains may extend to $1.3160 (Jun 20 lows),
then - at $1.3255/60 (Friday’s high) and $1.3300 (Jun 6 high).
POUND:
The pound remainув under pressure for a second day against
the euro and US dollar. The pound fell to a three-week low against the
dollar and gilts rose as a report showed Britons’ disposable income
plunged the most in 25 years in the first quarter and gross domestic
product matched an initial estimate.
U.K. GDP expanded 0.3% in the three months through March
after contracting 0.3% in the final three months of 2012, the Office for
National Statistics said today in London.
GBP/USD broke under strong support at
$1.5300/90 (61.8% Fibo of the $1.5000 - $1.5750 rally) to the lows near
$1.5190 (minor support). Below losses may widen to $1.5140 (May 24 high
and May 31 lows), then - to $1.5000 (May 29 lows). Initial resistance
comes at $1.5340 (daily high), then - at $1.5400 (yesterday’s high),
then - at $1.5450/60 (Friday’s hourly highs) and $1.5530 (Jun 21 high).
YEN:
The yen fell as Federal Reserve officials’ statements that
the economic recovery isn’t strong enough to start tapering bond-buying
boosted speculation that Japan’s currency will be more responsive to the
country’s own stimulus efforts.
The New York Fed President William C. Dudley said the
central bank may prolong its asset-purchase program if the economy’s
performance fails to meet the Fed’s forecasts.
Atlanta Fed President Dennis Lockhart is due to speak after
International Monetary Fund Managing Director Christine Lagarde said
Fed tapering may not be “around the corner.”
USD/JPY remains below the Y98.80 resistance
(50% Fibo of the Y103.80- Y93.80 decline). Above resistance comes at
Y99.90/00 (61.8%). Initial support comes at Y97.20, with a break under
targets Friday’s lows near Y96.90 (also channel suppot lime from Jun
14).
DATA AHEAD:
At 22:45 GMT New Zealand reports May Building Permits.
At 23:01 GMT UK reports Jun Gfk Consumer Confidence.
At 23:30 GMT Japan releases its inflation data, Unemployment Rate and Industrial Production.
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