European session: unemployment is on the high since October 2004 in Britain [E]

Next data issued:

06:45 FR HICP (May) preliminary, y/y 2.4% 2.0%

06:45 FR CPI (May) unadjusted preliminary 0.4% 0.4%

06:45 FR CPI (May) unadjusted preliminary, y/y 2.1% 1.7%

08:00 IT CPI (May) final 0.3% 0.3% 0.3%

08:00 IT HICP (May)final, y/y 2.3% 2.3% 2.3%

08:00 IT CPI (May) final, y/y 2.2% 2.2% 2.2%

08:30 UK Claimant count (May) +5.3а? +7.2а? +7.7а?

08:30 UK Claimant count rate (May) 3.0% 3.0% 3.0%

08:30 UK Average earnings (3 months for April) аГ/аГ 4.4% 4.4% 4.2%

08:30 UK ILO Jobless rate (3 months for April) 5.3% 5.2%

On Wednesday the USD snapped a 7-days winning on speculation further interest rate increases by the Federal Reserve will suspend economic growth.

Also USD decrease promoted by technical indicators. Many market players consider the U.S. currency rally was too fast and correction is necessary.

The recent data on Britain unemployment on a standards ILO for February-April made the highest since October 2004.

France and Italy inflation reports were as expected and obvious for a market.

EUR/USD after increase in area of resistance $1.2600 the rate again has started to decrease. As a result EUR rebounded to $1.2560 where it stabilized before the beginning of the American session.

GBP/USD climbed to $1.8450. Offers became the reason of recoil to $1.8400/10. Then the rate stabilized in a range 1.2400/20.

USD/JPY after decrease to Y114.80 has raised in area Y115.00/10 and then stabilized.

The data on CPI is awaited today.. Analytics forecast decrease. But the market still has a sentiment showing strengthening of inflation pressure in USA.

If the forecasts fake USD can continue today's correction.