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30.06.2015 12:19 Foreign exchange market. European session: the euro traded higher against the U.S. dollar on hopes for a last-minute deal between Athens and its creditors

 

Economic calendar (GMT0):

 

 

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

 

 

01:00 Australia HIA New Home Sales, m/m May 0.6% -2.3%

01:00 New Zealand ANZ Business Confidence June 15.7 -2.3

01:30 Australia Private Sector Credit, y/y May 6.1% 6.2%

01:30 Australia Private Sector Credit, m/m May 0.3% 0.5% 0.5%

01:30 Japan Labor Cash Earnings, YoY May 0.7% Revised From 0.9% 0.6%

05:00 Japan Housing Starts, y/y May 0.4% 5.8% 5.8%

06:00 Germany Retail sales, real unadjusted, y/y May 1.1% Revised From 1.0% 2.5% -0.4%

06:00 Germany Retail sales, real adjusted May 1.3% Revised From 1.7% 0.0% 0.5%

07:00 Switzerland KOF Leading Indicator June 92.7 Revised From 93.1 93.6 89.7

07:55 Germany Unemployment Change June -5 -5 -1

07:55 Germany Unemployment Rate s.a. June 6.4% 6.4% 6.4%

08:30 United Kingdom Current account, bln Quarter I -28.93 Revised From -25.3 -23.25 -26.6

08:30 United Kingdom GDP, q/q (Finally) Quarter I 0.8% Revised From 0.6% 0.4% 0.4%

08:30 United Kingdom GDP, y/y (Finally) Quarter I 3.4% Revised From 3.0% 2.5% 2.9%

08:40 Australia RBA's Governor Glenn Stevens Speech

09:00 Eurozone Harmonized CPI, Y/Y (Preliminary) June 0.3% 0.2% 0.2%

09:00 Eurozone Unemployment Rate May 11.1% 11.1% 11.1%

The U.S. dollar traded mixed against the most major currencies ahead of the U.S. economic data. The S&P/Case-Shiller home price index is expected to rise by 5.5% in April, after a 5.0% gain in March.

 

 

The U.S. consumer confidence is expected to decline to 97.2 in June from 95.4 from May.

 

 

The Chicago purchasing managers' index is expected to rise to 50.1 in June from 46.2 in May.

 

 

The euro traded higher against the U.S. dollar on hopes for a last-minute deal between Athens and its creditors. Greek finance minister, Yanis Varoufakis, said on Tuesday that Athens hopes to reach a deal before the deadline.

 

 

German Finance Minister Wolfgang Schaeuble said on Monday that the impact of Greece's debt crisis on other countries from the Eurozone is limited.

 

 

The rating agency Standard & Poor's on Monday downgraded Greece's sovereign debt rating to CCC- from CCC. The outlook is negative.

 

 

Meanwhile, the economic data from the Eurozone was mixed. The preliminary consumer price inflation in the Eurozone fell to an annual rate of 0.2% in June from 0.3% in May, in line with expectations.

 

 

The decrease was driven by lower energy prices and by a softer increase in food and services prices.

 

 

Eurozone's unemployment rate remained unchanged at 11.1% in May, in line with expectations. It was the lowest level since March 2012.

 

 

The British pound traded mixed against the U.S. dollar after the release of the economic data from the U.K. The final U.K. GDP expanded at 0.4% in the first quarter, beating May's estimate of a 0.3% gain, after a 0.8% rise in the fourth quarter.

 

 

The upward revision was driven by methodological changes in construction.

 

 

On a yearly basis, the revised U.K. GDP rose 2.9% in the first quarter, eating May's estimate of a 2.4% increase, after a 3.4% gain in the fourth quarter.

 

 

The U.K. current account deficit narrowed to £26.5 billion in the first quarter from £28.93 billion in the fourth quarter. The fourth quarter's figure was revised down from a deficit of £25.3 billion.

 

 

Analysts had expected the current account deficit to decrease to £23.25 billion.

 

 

The first quarter's current account deficit amounted to 5.8% of GDP, after 6.4% of GDP in the fourth quarter.

 

 

The Canadian dollar traded higher against the U.S. dollar ahead of the Canadian gross domestic product (GDP) data. Canada's GDP is expected to grow at an annual rate of 0.1% in April, after a 0.2% decline in March.

 

 

The Swiss franc traded higher against the U.S. dollar after the release of KOF leading indicator. The KOF leading indicator dropped to 89.7 in June from 92.7 in May, missing expectations for a rise to 93.6. May's figure was revised down from 93.1.

 

 

EUR/USD: the currency pair increased to $1.1206

 

 

GBP/USD: the currency pair traded mixed

 

 

USD/JPY: the currency pair rose to Y122.60

 

 

The most important news that are expected (GMT0):

 

 

12:30 Canada GDP (m/m) April -0.2% 0.1%

13:00 U.S. S&P/Case-Shiller Home Price Indices, y/y April 5.0% 5.5%

13:45 U.S. Chicago Purchasing Managers' Index June 46.2 50.1

14:00 U.S. Consumer confidence June 95.4 97.2

23:50 Japan BoJ Tankan. Manufacturing Index Quarter II 12 12

23:50 Japan BoJ Tankan. Non-Manufacturing Index Quarter II 19 22



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