Asian stock markets: Nikkei up 0.80 %, Shanghai Composite fell 0.40 %, Hang Seng rose 0.30 %, ASX 200 gained 0.55 %
Commodities: Gold at $1280 (+0.50 %), Silver at $17.28 (+0.75 %), WTI Oil at $48.25 (+1.10 %), Brent Oil at $49.28 (+0.60 %)
Rates: US 10 year yield at 1.75, UK 10 year yield at 1.39, German 10 year yield at 0.15
Australia ANZ Roy Morgan Weekly Consumer Confidence Index (W/E 15 May): 115.1 (prev 113.9)
New Zealand RBNZ 2 Year Inflation Expectations (Q2): 1.64% (prev 1.63%)
PBoC Fixes Yuan At 6.5200 (prev 6.5343)
Japanese FinMin Aso: G7 To Discuss International Taxation, Economy & Development — BBG
Aso: Will Attach Utmost Importance To FX Stability At G7 — RTRS
Corporate Japan Girds For Stronger Yen In Fiscal 2016 — Nikkei
Japan Centre For Economic Research Expects Real GDP Grew Just 0.28% In Q1
RBA Minutes (May): Board Discussed Cutting Rate Or Awaiting More Data
Weakness In Domestic Cost Pressures Have Been Broad Based
Appreciating A$ Could Complicate Economic Adjustment
Less Momentum In Price Pressures Than Previously Thought
Outlook For China's Economy Continued To Be Key Issue
Labour Cost Growth Could Pick Up Sooner As Job Market Improves
The US Dollar weakened overnight against most other major currencies, except the Euro and the Swiss Franc. EUR/USD consolidated in a 1.1312-25 range, while USD/CHF was stuck between 0.9770 and 0.9780.
The highest volatility was seen in AUD/USD after the release of the RBA meeting minutes. There were no surprises in the minutes, but the Australian Dollar rallied nevertheless. AUD/USD rose from 0.7285 to a high of 0.7365, while AUD/JPY rallied back above 80.00.
NZD/USD was also lifted by the rally in AUD/USD and it rose to 0.6840, up roughly 60 pips from the open. Meanwhile, rising oil prices continue to support the Canadian Dollar and USD/CAD fell to 1.2845 overnight. Support is now seen at 1.2770.
08:15 BST – Swiss PPI
09:00 BST – Italian Trade Balance
09:30 BST – UK CPI
10:00 BST – Euro Zone Trade Balance
13:30 BST – US Building Permits
13:30 BST – US CPI
13:30 BST – US Housing Starts
13:30 BST – Canadian Manufacturing Sales
14:15 BST – US Manufacturing Production
14:15 BST – US Industrial Production
17:00 BST – FOMC Member Williams speaks
17:00 BST – FOMC Member Lockhart speaks
21:35 BST – US API Weekly Crude Oil Stock
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