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23.06.2015 12:15 Foreign exchange market. European session: the euro traded lower against the U.S. dollar on the uncertainty of the Greek debt talks

 

Economic calendar (GMT0):

 

 

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

 

 

00:00 Australia Conference Board Australia Leading Index April 0.0% Revised From -0.1% -0.3%

01:30 Australia House Price Index (QoQ) Quarter I 2.0% Revised From 1.9% 2.3% 1.6%

01:30 Australia House Price Index (YoY) Quarter I 6.8% 6.9%

01:35 Japan Manufacturing PMI (Preliminary) June 50.9 49.9

01:45 China HSBC Manufacturing PMI (Preliminary) June 49.2 49.4 49.6

07:00 France Services PMI (Preliminary) June 52.8 52.6 54.1

07:00 France Manufacturing PMI (Preliminary) June 49.4 49.5 50.5

07:30 Germany Services PMI (Preliminary) June 53.0 53.0 54.2

07:30 Germany Manufacturing PMI (Preliminary) June 51.1 51.3 51.9

08:00 Eurozone Manufacturing PMI (Preliminary) June 52.2 52.2 52.5

08:00 Eurozone Services PMI (Preliminary) June 53.8 53.6 54.4

10:00 United Kingdom CBI industrial order books balance June -5 1 -7

12:00 U.S. FOMC Member Jerome Powell Speaks

The U.S. dollar traded mixed to higher against the most major currencies ahead of the U.S. economic data. The U.S. durable goods orders are expected to decrease 0.5% in May, after a 0.5% decline in April.

 

 

The U.S. durable goods orders excluding transportation are expected to rise 0.6% in May, after a 0.5% gain in April.

 

 

The U.S. preliminary manufacturing PMI is expected to rise to 54.2 in June from 54.0 in May.

 

 

New home sales in the U.S. are expected to rise to 525,000 units in May from 517,000 units in April.

 

 

The euro traded lower against the U.S. dollar on the uncertainty of the Greek debt talks. The head of the Eurogroup Jeroen Dijsselbloem said after the Eurogroup's meeting on Monday that a deal between Greece and its creditors could be reached this week.

 

 

"I am convinced that we will find an agreement this week. It's vital"." the EU's Economic and Financial Affairs Commissioner Pierre Moscovici said last night.

 

 

Next Eurogroup's meeting is scheduled to be tomorrow, while next Eurozone leaders' meeting is scheduled to be on Thursday.

 

 

Meanwhile, the economic data from the Eurozone was better-than-expected. Eurozone's preliminary manufacturing PMI increased to 52.5 in June from 52.2 in May. Analysts had expected index to remain unchanged at 52.2.

 

 

Eurozone's preliminary services PMI rose to 54.4 in June from 53.8 in May. Analysts had expected the index to fall to 53.6.

 

 

Markit's Chief Economist Chris Williamson said that Eurozone's economy is expected to grow around 2.0% this year, depending on the outcome of the Greek debt talks.

 

 

He also said that the figures indicate a 0.4% growth of the economy in the Eurozone in the second quarter.

 

 

Germany's preliminary manufacturing PMI climbed to 51.9 in June from 51.1 in May, exceeding forecasts of an increase to 51.3.

 

 

Germany's preliminary services PMI was up to 54.2 in June from 53.0 in May. Analysts had expected index to remain unchanged at 53.0.

 

 

Markit's economist Oliver Kolodseike noted that the figures showed "a mixed picture of the health of Germany's private sector economy".

 

 

France's preliminary manufacturing PMI rose to 50.5 in June from 49.4 in May, beating forecasts of a rise to 49.5.

 

 

France's preliminary services PMI increased to 54.1 in June from 52.8 in May, beating expectations for a decline to 52.6. It was the highest level since August 2011.

 

 

The Senior Economist at Markit Jack Kennedy said that "the figures bode well for second quarter GDP".

 

 

The British pound traded mixed against the U.S. dollar after the CBI industrial order books balance data. The Confederation of British Industry (CBI) released its industrial order books balance on Tuesday. The CBI industrial order books balance dropped to -7% in June from -5% in May, missing expectations for a rise to 1%.

 

 

The decline was driven by lower exports. The export order book balance fell to -17% in June from -7% in May.

 

 

The balance for output volumes for the next three months rose to 16% in June from 15% in May.

 

 

EUR/USD: the currency pair decreased to $1.1194

 

 

GBP/USD: the currency pair traded mixed

 

 

USD/JPY: the currency pair rose to Y123.85

 

 

The most important news that are expected (GMT0):

 

 

12:30 U.S. Durable Goods Orders May -0.5% -0.5%

12:30 U.S. Durable Goods Orders ex Transportation May 0.5% 0.6%

13:45 U.S. Manufacturing PMI (Preliminary) June 54.0 54.2

14:00 U.S. New Home Sales May 517 525

23:50 Japan Monetary Policy Meeting Minutes

 



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