Australia Private New CAPEX -4.4 %, Expected: -2.4 %, Previous: -1.7 %
Fonterra CFO: RBNZ Rate cut would help weaken overvalued kiwi — BFW
China brokerages increase stock trading margins again — Beijing News via MNI
USD/JPY moves to highest levels since 2002
Asian shares drop, dollar hits 13-year high versus yen – RTRS
Oil prices edge up after two days of steep falls – RTRS
Japan April retail sales rebound, ease pressure on BOJ – RTRS
EU officials dismiss Greek statement on aid agreement being drafted – RTRS
Electronic Trading Takes Over Currency Market Roiled by Scandals – BBG
Asian Stocks Track Global Gains on U.S. Tech Rally, Greece Bets – BBG
The Aussie Dollar fell sharply overnight after weak Capex data. One big US bank warned that given the scale of declines, it reiterates its warnings that "economic growth estimates remain skewed to the downside and the monetary easing cycle is unlikely to be complete". They expect another RBA rate cut in 2015, most likely at the August meeting. AUD/USD declined from 0.7750 to a low of 0.7670, while AUD/NZD is now testing the 1.06 level.
A new day and a new high in the USD/JPY. The pair remains unstoppable as leveraged names continue to rush back into the JPY short trade. Another key resistance level has been taken out, this time 124.10 and there is not much until 125.00 now. Meanwhile, price action in EUR/USD remains choppy as the Greek drama continues and we get contradicting headlines on a daily basis. No key EU data releases today; the focus will be on UK GDP figures.