Asian session:
08.06.2011, 08:32

Asian session:

Data:
01:30 Australia Home Loans (Apr) 4.8%
  
The yen rose against most of its 16 major peers after the International Monetary Fund said its 26 billion-euro ($38 billion) loan to Portugal “entails important risks,” spurring demand for Japan’s currency as a refuge.
The euro fell from an almost four-week high versus the dollar after German Finance Minister Wolfgang Schaeuble said bondholders must contribute a “substantial” share of a second aid package for Greece.
The IMF approved the loan to Portugal on May 20 as part of a joint 78-billion euro bailout with the European Union in the latest effort to stem the region’s sovereign-debt crisis.
The yen rose for a sixth day against the dollar as Fed officials expressed concern over the world’s largest economy.
Bernanke’s view is shared by New York Fed President William Dudley. The U.S. recovery from the worst financial crisis since the Great Depression is “distinctly subpar” even after “aggressive monetary and fiscal stimulus,” Dudley said yesterday in remarks given to the Foreign Policy Association in New York.

EUR/USD: the pair decreased in area $1.4660. 
GBP/USD: the pair decreased in area $1.6420. 
USD/JPY: the pair shown low in zone Y79.70 then  grown.

At 0900GMT, the second release of Q1 EMU GDP is due, while at 1000GMT, German industrial output for April is due. 
US data starts at 1100GMT with the weekly MBA Mortgage Application Index, while is followed at 1400GMT by Q1 Services data and then at 1430GMT by the weekly EIA Crude Oil Stocks data. The Fed Beige Book, the Fed's compilation of anecdotal evidence about conditions in the 12 District Bank regions, is due at 1800GMT. 


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