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    16.07.2015 06:58 Foreign exchange market. Asian session: the euro remains under pressure

    Economic calendar (GMT0):

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

    01:00 Australia Consumer Inflation Expectation July 3% 3.4%

    04:00 Japan BoJ monthly economic report

    The euro declined despite good news from Athens. Sources reported that Greece's parliament approved financial aid program from the euro zone. At the same time uncertainty persists and it weighs on the single currency. Today's ECB meeting and Mario Draghi's press-conference may put extra pressure on the euro. The central bank is expected to keep its monetary policy unchanged. There have not been any significant changes in macroeconomic statistics since the last ECB meeting. Data from France, Spain in Italy improved, while German economy got slightly weaker. Thus Draghi is likely to be very careful.

    The Australian dollar rose against the New Zealand dollar amid positive data from Australia and disappointing reports from New Zealand. This month Australian consumer price expectations rose to 3.4% from 3.0% reported previously. The higher the expectations the greater their influence on probability of a rate hike by the Reserve Bank of Australia. Meanwhile dairy product prices declined in New Zealand and the consumer price index missed expectations.

    EUR/USD: the pair declined to $1.0910 in Asian trade

    USD/JPY: the pair traded around Y123.70-00

    GBP/USD: the pair fell to $1.5610

    The most important news that are expected (GMT0):

    (time / country / index / period / previous value / forecast)

    07:15 Switzerland Retail Sales Y/Y May 1.6%

    07:16 Switzerland Retail Sales (MoM) May 2.1%

    09:00 Eurozone Trade balance unadjusted May 24.9

    09:00 Eurozone Harmonized CPI June 0.2% 0%

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

    09:00 Eurozone Harmonized CPI ex EFAT, Y/Y (Finally) June 0.9% 0.8%

    11:45 Eurozone ECB Interest Rate Decision 0.05% 0.05%

    12:30 Eurozone ECB Press Conference

    12:30 Canada Foreign Securities Purchases May 12.94

    12:30 U.S. Continuing Jobless Claims 2334 2295

    12:30 U.S. Initial Jobless Claims July 297 285

    14:00 U.S. NAHB Housing Market Index July 59 60

    14:00 U.S. Philadelphia Fed Manufacturing Survey July 15.2 12.0

    14:00 U.S. Fed Chairman Janet Yellen Speaks

    18:00 United Kingdom BOE Gov Mark Carney Speaks

    20:00 U.S. Total Net TIC Flows May 106.6

    20:00 U.S. Net Long-term TIC Flows May 53.9


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