Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
04:30 Japan Industrial Production (MoM) (Finally) April -0.8% 1% 1.2%
04:30 Japan Industrial Production (YoY) (Finally) April -1.7% -0.1% 0.1%
04:30 Japan Tertiary Industry Index April -1.0% -0.2%
09:00 Eurozone Industrial production, (MoM) April -0.4% Revised From -0.3% 0.3% 0.1%
09:00 Eurozone Industrial Production (YoY) April 2.1% Revised From 1.8% 1.1% 0.8%
The U.S. dollar traded mixed to higher against the most major currencies ahead of the U.S. economic data. The U.S. PPI is expected to increase 0.4% in May, after a 0.4% decrease in Aril.
The U.S. producer price inflation excluding food and energy is expected to rise 0.1% in May, after a 0.2 decline in April.
The preliminary Thomson Reuters/University of Michigan preliminary consumer sentiment index is expected to climb to 91.5 in June from a final reading of 90.7 in May.
The euro traded lower against the U.S. dollar on the uncertainty over the Greek debt talks and on the weaker-than-expected industrial production data from the Eurozone. The International Monetary Fund (IMF) spokesman Gerry Rice said on Thursday that the IMF's technical team has left the debt talks in Brussels. The reason is "major differences", he noted. "There are major differences between us in most key areas," Rice said.
News reported that Germany was preparing for a Greek default.
Industrial production in the Eurozone rose 0.1% in April, missing expectations for a 0.3% gain, after a 0.4% decline in March. March's figure was revised down from a 0.3% decrease.
The increase was driven by a rise in durable consumer goods and capital goods output. Durable consumer goods were up 1.0%, while capital goods rose by 0.7%.
On a yearly basis, Eurozone's industrial production gained 0.8% in April, missing expectations for a 1.1% rise, after a 2.1% increase in March. March's figure was revised up from a 1.8 gain.
The increase was driven by a rise in durable consumer goods and in production of capital goods. Durable consumer goods climbed by 1.7% in April from a year ago, while capital goods output rose by 2.1%.
The British pound traded lower against the U.S. dollar after the construction output data from the U.K. Construction output in the U.K. declined 0.8% in April, after a 1.4% rise in March.
The decline was driven by a drop in repair and maintenance, which plunged 4.8% in April.
New work increased 1.6% in April.
On a yearly basis, construction output climbed 1.6% in April.
The ONS revised its methodology for measuring construction. For the first quarter as a whole, construction output was down 0.2%.
According to the ONS, the revision could have an impact the U.K. GDP growth. The economy could have expanded at 0.4% in the first quarter rather than 0.3%.
The Swiss franc traded mixed against the U.S. dollar. The KOF Swiss Economic Institute upgraded its economic growth forecasts for Switzerland but downgraded its inflation forecasts. The Swiss economy is expected to rise 0.4% in 2015, up from the March estimate of 0.2%.
The Swiss consumer price inflation is expected to decline 1.1% in 2015, down from the March estimate of -0.8%.
EUR/USD: the currency pair decreased to $1.1150
GBP/USD: the currency pair declined to $1.5464
USD/JPY: the currency pair rose to Y123.81
The most important news that are expected (GMT0):
12:30 U.S. PPI excluding food and energy, m/m May -0.2% 0.1%
12:30 U.S. PPI excluding food and energy, Y/Y May 0.8% 0.7%
12:30 U.S. PPI, y/y May -1.3% -1.1%
12:30 U.S. PPI, m/m May -0.4% 0.4%
14:00 U.S. Reuters/Michigan Consumer Sentiment Index (Preliminary) June 90.7 91.5