TeleTrade - Analytics

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    (Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

    01:30 Australia Gross Domestic Product (YoY) Quarter I 2.5% 2.1% 2.3%

    01:30 Australia Gross Domestic Product (QoQ) Quarter I 0.5% 0.7% 0.9%

    01:45 China HSBC Services PMI May 52.9 53.5

     

    Australia's currency strengthened after the nation's economic growth beat estimates, while Chinese stocks slumped. Australia's gross domestic product increased 0.9 percent from the final three months of 2014, when it rose 0.5 percent, government data showed. That compared with the median economist estimate for a 0.7 percent gain.

    The European Central Bank meets on Wednesday amid speculation over the future of its stimulus program and the outlook for a Greek debt deal.

    Greek Prime Minister Alexis Tsipras will meet European Commission President Jean-Claude Juncker after creditors agreed on a document designed to avert a default that will be presented to Greece. The ECB will announce its interest-rate decision at 1:45 p.m. Frankfurt time, and President Mario Draghi will hold his press conference 45 minutes later.

     

    EUR / USD: during the Asian session the pair rose to $ 1.1175

    GBP / USD: during the Asian session the pair rose to $ 1.5360

    USD / JPY: during the Asian session the pair fell to Y123.85

     

    UK services PMI at 0830GMT (median 59.2) provides the main domestic interest. Greece remains in focus, with attention on today's ECB rate decision/Draghi press conference. Interest rates to remain a key driver.


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