European session review: inflationary data from USA is expected [M]

Next data were issued:
08:00 IT CPI, April, total, м/м 0.3% 0,3% 0,3%
08:00 IT CPI, April, total, y/y 2.2% 2,2% 2,2%
08:00 IT HICP, April, total, y/y 2.3% 2,3% 2,3%
08:30 UK HICP, April, м/м 0.6% 0,5% 0,2%
08:30 UK HICP, April, y/y 2.0% 2,0% 1,8%
08:30 UK Retail prices, April, м/м 0.8% 0,6% 0,4%
08:30 UK Retail prices. April, y/y 2.6% 2,4%
08:30 UK RPI-X, April, y/y 2.4% 2,1%
09:00 DE ZEW economic expectations index, May 50,0 60,2 62,7
09:00 EU Industrial production, March, м/м +0.4% 0,0%
09:00 EU Industrial production, March, y/y 3.8% 3,2%

Consolidation with insignificant tendency to strengthening against main currencies continues on American session.
After issued more weak in compare with expected ZEW index USD has tested local maximum of Monday, however, in the midday lost position.
According to ZEW Research Institute (ZEW диаграмма), index ZEW in May has fallen for 4 running month and has 50 p. against 62.7 on April. Economists expected nearly 60 p.
Data of inflation in Great Britain remains on expected level and practically were ignored.
Traders now expect PPI index PPI m/m диаграмма и PPI core диаграмма in USA.
The evidence of inflation pressure can provoke new wave of close of offers USD and support USD.
It should not be forgotten, present USD increase remains as correction only. Disappointment previous month is going on.

EUR/USD in $1.2770/1.2830. Offers on $1.2845/50. Bids concentrates in area of minimum 1.2770.
GBP/USD has tested $1.8750. Orders exposed here became a cause of retreat to $1.8820. Offers exposed on $1.8810 and on approach of session minimum $1.8860/65. Bids noticed on $1.8725/10.
USD/JPY got a support in area Y109.90, after has tested Y110.50. Offers exposed in area Y110.55/65 became a cause of retreat to middle of day. Bids noticed on Y109.90/80, and strengthen on approach to Y109.65/50. Serious bids noticed on approach to Y109.20.

Definite interest will de performed relating real estate market and industrial production in USA. Forecasts reflects some slow of growth.