Forex: Wednesday's review
30.06.2011, 07:23

Forex: Wednesday's review

The euro reached two-week high against the dollar as investors raised bets the European Central Bank will increase interest rates next week after the passage of austerity measures by Greek lawmakers.
The 17-nation currency also gained after Greek Prime Minister George Papandreou won with his 78 billion euro ($112 billion) package of budget cuts and state asset sales. 
Canada’s dollar rose as consumer prices in Canada advanced 0.7% in May after a 0.3% gain in the previous month, Statistics Canada said today, making it more likely that the central bank will resume boosting borrowing costs.
The Bank of Canada kept its benchmark overnight lending rate at 1% on May 31, where it has been since September. 
The franc slipped versus all of its major peers after the nation’s economic barometer fell in June, adding to signs the franc’s ascent and a faltering euro-region economy may hurt economic growth.
The monthly gauge that aims to predict the economy’s direction about six months ahead dropped to 2.23 from 2.30 in May, the KOF Swiss Economic Institute in Zurich said.

EUR/USD: on results of yesterday's session the pair  grown in   $1.4300 area .
GBP/USD: on results of yesterday's session the pair   grown in  $1.6070 area .
USD/JPY: on results of yesterday's session the pair  decreased in Y80.80 area.

German domestic May unemployment data is released at 0755GMT, followed at 0800GMT with the release of the ECB May M3 numbers. At 0900GMT, the EMU June flash HICP data is expected, the same time as the Italian June HICP data. 
UK data - at 0830GMT  the Q2 BOE Credit Conditions Survey hits dealers screens. 
The US calendar starts at 1230GMT, with the weekly Jobless Claims data. Claims are expected to fall 9,000 to 420,000 in the June 25 employment survey week. Also at 1230GMT, the ISM-NY Business Index data is released. At 1345GMT the June Chicago Purchasers Index data is released. The Chicago PMI is expected to fall to a reading of 53.0 in June after falling more than 10 points in May. 

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