Today’s London session see’s the release of UK Construction PMI for May and Eurozone PPI for April, followed early in today’s New York session by the latest rate announcement and Press Conference by the ECB, along with comments from BoE’s Carney, ADP Employment Change, and this week’s Crude Oil Inventories.
The Asia-Pacific session saw Retail Sales from Australia slightly miss estimates at 0.2% versus 0.3% expected. Trade Balance hit a narrower deficit than expected but Goods & Services Imports declined -1% while Exports rose only 1%. After a small initial spike higher, the Aussie dropped 40 pips.
Comments from BoJ board member Sato have saw some strength in yen, with USDJPY declining to test 109.00 and GBPJPY to test 157.00. He criticised negative rates and said it’s not necessary for the Bank to pursue its inflation target at all costs, but rather leave it as a longer-term goal.
UK Construction PMI, ECB Press Conference, and US ADP Employment Change, were all covered in this week’s weekly risk event video here.
Source:: ECB | Current Sentiment