- EUR/USD squeezed to 1.1280 from 1.1180 Asia low.
- Germany April Industrial Orders 1.4 m/m vs 0.9% previous, 0.5% expected.
- Germany BUBA GDP forecast 1.7% 2015 vs 1.0% seen in December.
- UK BoE public Inflation expectation 12month 2.2% vs 1.9% last survey.
- Greek shares take a battering, off 2.6% early Europe.
- France April Trade Balance -E3.0bln vs -E4.6bln previous.
- Norway April Manufacturing Output -2.9% vs +3.2% previous, -1.9% expected.
- Norway NB regional survey, 0.13 vs 0.39 previous.
- Fed doves' ranks may be growing, possibly pushing hike into '16.
- UK May KPMG/REC permanent jobs growth, index 56.8 vs 60.6.
- · (0830 ET/1230 GMT) Canada May Employment change consensus 10k vs -19.7k previous.
- (0830 ET/1230 GMT) Canada May Unemployment rate consensus 6.8% vs 6.8% previous.
- (0830 ET/1230 GMT) Nonfarm Payrolls May consensus 225k, previous +223k.
- (0830 ET/1230 GMT) Private Payrolls May consensus 220k, previous +213k.
- (0830 ET/1230 GMT) Manufacturing Payrolls May consensus 5k, previous +1k.
- (0830 ET/1230 GMT) Unemployment Rate May consensus 5.4%, previous 5.4%.
- (0830 ET/1230 GMT) Average Hourly Earnings May consensus +0.2% m/m, previous +0.1%.
- (0830 ET/1230 GMT) Average Workweek May consensus 34.5 hrs, previous 34.5 hrs.
- (1500 ET/1900 GMT) Consumer Credit April consensus $16.70 bn, previous $20.52 bn.
Key Events Ahead
- (1145 ET/1545 GMT) Fed Trade ops 30yr F.Mae/Fr.Mac max $1.875 bn.
- (1230 ET/1630 GMT) FRB New York's Dudley on the economy; Minneapolis.
- N/A G-7 Finance Ministers meet; Dresden, Germany.
FX Recap
EUR/USD is supported below 1.1250 levels and currently trading at 1.1225 levels. It has made intraday high at 1.1278 and low at 1.1178 levels. Without any progress in the Greek-EU debt negotiations, the scenario continues to be dominated by rumours and empty promises by Greek authorities, who managed to postpone today's €300 billion IMF repayment to the end of June. Back to Germany, the selloff in the Bund market remains well and sound, lending some support to the shared currency via higher yields with the 10-year benchmark around 0.90%. Today Germany factory orders and France trade balance released with positive numbers. Initial support is seen at 1.1177 and resistance is seen around 1.1284 levels. Option expiries are at 1.1000 (3BLN), 1.1100 (708M), 1.1200 (983M), 1.1300 (383M).
USD/JPY is supported above 124.50 levels and posted a high of 124.79 levels. It has made intraday low at 124.32 and currently trading at 124.76 levels. Today Japan released leading indicator with positive numbers. Pair accelerated 0.39% to ¥124.75, climbing towards the 13-year high of ¥125.05 seen on Tuesday. Near term resistance is seen at 124.83 levels and support is seen at 123.51 levels. Option expiries are at 122.85 (1.2BLN), 123.00 (720M), 123.50 (452M), 123.75 (250M), 125.00 (762M).
GBP/USD is supported just above $1.5300 levels. It made an intraday high at 1.5368 and low at 1.5300 levels. Pair is currently trading at 1.5314 levels. The pair remains pressured mainly as the pound was sold-off on a profit-taking rally after the recent strength. While traders prefer to unwind their positions ahead of the key US jobs data. Today UK released consumer inflation expectation data at 2.2%, previous 1.9%. Initial support is seen at 1.5250 and resistance is seen around 1.5457 levels. Option expiry is at 1.5500 (840M).
USD/CHF is supported above 0.9300 levels and trading at 0.9329 levels and made intraday low at 0.9297 and high at 0.9360 levels. In the absence of any macro economic data from Switzerland, market will eye on US NFP data due later in a day. Near term support is seen at 0.9244 levels and resistance is seen at 0.9430 levels.
AUD/USD is supported just around 0.7700 levels and trading at 0.7696 levels. It has made intraday high at 0.7706 levels and low at 0.7670 levels. The Aussie rebounded in Asia, swinging back higher above 0.77 handle after the AUD bulls were boosted by upbeat Australian construction PMI report which came in at 47.8 versus 47.00. Initial support is seen at 0.7613 and resistance at 0.7739 levels. Option expiry is at 0.7650 (681M).
