Market Roundup
- PBOC Sets Yuan Mid-Point at 6.1169 / Dlr Vs Last Close 6.2057
- New Zealand Business Confidence 30.2 pct in April vs 35.8 pct in previous survey
- New Zealand Business Own Activity Outlook 41.3 PCT in April vs 42.2 PCT in previous survey
- New Zealand March Month Trade Surplus NZD631mln (Reuters Surplus NZD341mln)
- New Zealand March Annual Trade Deficit bln (Reuters Deficit bln)
- New Zealand March Month Imports NZD4.3bln (Reuters Poll bln)
- New Zealand March Month Exports bln (Reuters Poll bln)
- S. Korea May Mfg Business Outlook Index at S/Adj 76 Vs 76 for April
Economic Data Ahead
- (0200 EDT/0600 GMT) UK Nationwide Housing Prices YY, consensus 4.1%, pervious 5.1%
- (0200 EDT/0600 GMT) Switzerland UBS Consumption Indicator, previous 1.19
- (0300 EDT/0700 GMT) Spain Retail Sales yy, previous 2.7%
- (0400 EDT/0800 GMT) Italy Business Confidence, consensus 103.7, previous 103.7
- (0400 EDT/0800 GMT) Italy Consumer Confidence, consensus 110.5, previous 110.9
- (0400 EDT/0800 GMT) Eurozone M3 Money Supply 3m, previous 3.8%
- (0400 EDT/0800 GMT) Eurozone Private loans yy, consensus 0.0%, previous -0.1%
- (0500 EDT/0900 GMT) Eurozone Industrial Confidence, consensus -2.8, previous -2.9
- (0500 EDT/0900 GMT) Eurozone Consumer Confidence, consensus -4.6, previous -4.6
- (0500 EDT/0900 GMT) Eurozone Services Sentiment, consensus 6, previous 6
- (0500 EDT/0900 GMT) Eurozone Business Climate, consensus 0.21, previous 0.23
- (0500 EDT/0900 GMT) Eurozone Economic Sentiment Indivator, consensus 103.9, previous 103.9
- (0600 EDT/1000 GMT) UK CBI Distributive Trades Survey, consensus 25, previous 18
- (0830 EDT/1230 GMT) US GDP Annualized Q1, consensus 1.0%, previous 2.2%
- (1000 EDT/1400 GMT) US Pending Home Sales yy, previous 12%
- (1400 EDT/1800 GMT) US Fed Interest Rate decision, previous 0.25%
- (1700 EDT/2100 GMT) RBNZ Interest Rate decision, previous 3.5%
- (1905 EDT/2305 GMT) UK Gfk Consumer Confidence, previous 4
Key Events Ahead
- (0330 EDT/0730 GMT) Sweden Riksbank Interest Rate, previous -0.25%
- (0530 EDT/0930 GMT) Germany 5Y 4.00B 0.000% 17/04/20
- (0500 EDT/0900 GMT) Italy 10Y B 1.500% 01/06/25 . . EUR1.5-2.0
- (0500 EDT/0900 GMT) Italy 7Y B 15/06/22 . . –
- (0530 EDT/0930 GMT) UK 10Y 3.000B 2.000% 07/09/25
FX Recap
USD/JPY is finding support at 118.75 levels. Pair is opened at 118.83 and trading within 15 pips movement only. Market awaits BOJ monetary policy decision. . On the top side, resistance is seen at 119.44, 119.67 (April 24 high). Downside support is seen at 118.75, 118.51 levels.AUD/USD made 3 month high at 0.8027 levels and currently trading at 0.7985 levels. The Aussie strengthens on Tuesday as market awaits FOMC decision. Market expected delay in Fed rate hike timing, giving reason to weak the USD. Traders decided for unwinding their AUD longs ahead of FOMC statement due later today. Near term support is seen at 0.7900, 0.7830 (April 28 low). Immediate resistance is seen at 0.8000 and 0.8027 (yesterday’s high) levels.NZD/USD opened at 0.7722 and immediately touched 0.7730. New Zealand trade balance (YoY) arrived as $-2.41B, which was above forecasts of $-2.74B in March. Another data about ANZ business confidence came, that printed poorly a 30.2 vs 35.8 previous. Pair is currently trading at 0.7692 levels. Initial support is seen at 0.7680, 0.7634 levels. On the top side resistance is seen at 0.7745 levels.GBP/USD opened at 1.5331 and made new monthly high at 1.5345 levels. In today’s trading period, UK will release CBI realised sales data. After the data release market may get further trading directions. Support is seen at 1.5215 and resistance at 1.5371 (March 3 high) levels. EUR/USD made intraday high at 1.0696 and trading at 1.0965 levels. USD depreciated in yesterday’s trading period as market awaits FOMC statement. To the upside, immediate resistance is eyed at 1.1034 levels. On the other hand, support is likely to be found at 1.0850 levels, below which losses could be extended to 1.0830 levels and further to 1.0818 levels.
The material has been provided by InstaForex Company – www.instaforex.com