European session: the euro exchange rate fluctuates

Data

00:00 China Leading Index April 99.38 99.8

06:00 Switzerland Trade Balance April 1.90 2.02 1.73

06:45 France Consumer confidence May 83 85 79

07:15 Switzerland Employment Level Quarter I 4.12 4.11 4.15

The yen declined significantly against the dollar, which contributed to the statement of Prime Minister Shinzo Abe, who said that the central bank can increase the volume of their unprecedented stimulus if needed to support the economic recovery.

In addition, the dynamics of trade have shown results of the latest research that has been presented today Shoko Chukin Bank. As it became known, the level of business confidence for small and medium-sized enterprises in Japan deteriorated in May, registering with the second monthly decline in a row. According to a report in the current month index business sentiment fell to 48.2, compared with 49.4 and 49.7 in March. Recall that the index value below 50 indicates contraction in activity, while growth above this level involves the expansion. Meanwhile, it was revealed that the deterioration in sentiment reflects a negative assessment of business conditions in the non-manufacturing sector. The corresponding figure fell to 49, compared with 51.1 in the previous month. Meanwhile, the degree of confidence in the manufacturing sector remained unchanged - at the level of 47.2. It should be noted that the owners of a small industrial sector is expected that the level of general sentiment, both in manufacturing and non-manufacturing sector, growth will fix in the next month.

The dollar fell against most major currencies in anticipation of the release of macroeconomic data for the U.S., which, according to analysts point to improved consumer confidence and housing prices in America. According to the median forecast of analysts indicator of consumer confidence this month is likely to grow to 71, ie, shows the highest value since November. Rate in April was 68.1. It is also expected that the index of property values ​​in 20 major U.S. cities from S & P / Case-Shiller, may grow up in March, up 10.2% from a year earlier. This may be the strongest jump in prices since April 2006 goda.V whole is worth noting that since the beginning of 2013 the dollar increased by 5.4%, showing the strongest performer among currencies of 10 developed countries and regions.

The Australian dollar rose against the U.S. dollar, departing from the lowest level since June last year. Currently the pair is trading above the pivot, updating the maximum level AUD0.9695. However, daily charts indicate that the bearish trend is continuing within the parameters of the downward channel. Whereas this week, Australia does not publish important economic indicators, the exchange rate is growing ahead of a key report on the United States. Markets expect the Richmond Fed index will rise to 2, and the Federal Reserve Bank of Dallas indicator improved from 68.1 to 70.7. TD Securities analysts point to a mixed outlook for releases, noting the upside risks to report on consumer confidence. In March, housing prices are forecast at 1% m / m and 10.1% y / y