Forex: Thursday's review

The euro rose from a three-month low as Europe’s bailout fund confirmed that aid to Greece had been received and officials said progress was made forming a government, easing concern the nation will leave the monetary union. Greece’s socialist leader Evangelos Venizelos said he saw the first “good omen” in four days of attempts to form a coalition government and avert a new election. Greece “can continue to function with the disbursement,” commission spokesman Olivier Bailly told reporters in Brussels after yesterday’s European Financial Stability Facility decision to disburse immediately only 4.2 billion euros ($5.4 billion) of a 5.2 billion-euro loan tranche. The remaining 1 billion euros will be “disbursed in due time to cover future needs.”

The British pound rose against the dollar after the Bank of England’s Monetary Policy Committee held its quantitative easing target at 325 billion pounds ($525 billion), ending a second round of stimulus.

EUR/USD: during yesterday's session the pair was limited $1.2920-$ 1,2980.

GBP/USD: despite of volatility, positions of pair on results of yesterday's session  changed appreciably.

USD/JPY: yesterday the pair rose in Y80.00 area.

At 0800GMT, the IEA monthly oil market report is due.

UK data at 0830GMT sees the April Producer Price Index as well as March Construction Output data. PPI is expected to show the trend of

rising input prices coming to an end, with analysts' median forecast for a 0.8% drop on the month following March's 1.9% rise (median 2.1% y/y).

US data starts at 1230GMT with producer prices, which are expected to hold steady again in April after the flat reading in March. Energy

prices are expected to decline further after falling 1.0% in March. The core PPI is forecast to rise 0.2% in the month after the 0.3% increase

in March. At 1315GMT, Dallas Fed President Richard Fisher speaks to the  Texas Bankers Association 128th Annual Convention. US data continues at

1355GMT, when the Michigan Sentiment Index is expected to hold steady at a reading of 76.4 in early-May after rising slightly in April.