Market news

07.06.2011, 08:15

Asian session: The euro rose

Data:

04:30 Australia RBA Interest Rate Decision (Jun 7) 4.75%

05:00 Japan Coincident Index (Apr) Preliminar 103.8

05:00 Japan Leading Economic Index (Apr) Preliminar 96.4

The euro rose toward a one-month high after Germany’s government spokesman said Chancellor Angela Merkel told U.S. President Barack Obama that the 17-nation region will overcome its debt crisis.

The single currency approached a one-week high versus the yen after European Central Bank President Jean-Claude Trichet indicated his willingness to sanction bond rollovers in Greece.

Australia’s dollar retreated from near a four-week high against the greenback after the Reserve Bank said its current monetary policy remains appropriate.

The yen weakened against most of its 16 major counterparts as Asian stocks gained.

EUR/USD: the pair become stronger above $1.4600.

GBP/USD: the pair become stronger in area $1.6370.

USD/JPY: the pair become stronger in area Y80.30.

There is a lack of early data from core-Europe on Tuesday, with data not getting going until the 0900GMT release of EMU retail trade data for April. Germany then releases total manufacturing orders at 1000GMT.

At 1945GMT Fed Chairman Ben Bernanke is due to deliver a speech to the International Monetary Conference in Atlanta.

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