Forex Today: GBP weakest in Asia, Eyes on Eurozone CPI, US data

Forex today was mainly dominated by a broad based GBP weakness on latest poll, which revealed that UK Conservatives are projected to fall 16 seats short of overall majority in the upcoming June 8 election. The Antipodeans also remained under pressure, despite upbeat macro news from China, with the Chinese factories maintaining a steady growth last month. Meanwhile, RBNZ financial stability report, Wheeler’s comments and Australia’s private sector credit data was also overlooked by markets.

Looking ahead, we have an eventful EUR calendar, with German retail sales data out of the way, focus now remains on the Eurozone flash CPI estimate and unemployment rate. Meanwhile, FOMC member Kaplan’s speech, Canadian GDP and US pending home sales will be reported in the NA session, alongside the second-liner US Chicago PMI and Fed’s Beige book release.

Main topics in Asia

NZ: Financial Stability Review highlighted reduced risks in the financial system - TDS

The analysis team at TDS explains that the NZ’s semi-annual Financial Stability Review highlighted reduced risks in the financial system, although global uncertainty remains.

RBNZ's Wheeler: We are very pleased house price inflation has come off in recent months

RBNZ's Governor Graeme Wheeler is on the wires, via Reuters, stating that he's very pleased house price inflation has come off in recent months.

Japan's industrial production hits highest level since 2008

Japan’s industrial output rebounded in April, hitting the highest level since 2008, as overseas demand continued to support the nation’s economic recovery, Bloomberg reports.

Goldman Sachs downgrades Oil-price forecast

Goldman Sachs analysts, in their latest research note, downgraded the estimations for oil prices for this year, citing a potential rise in shale gas production, new projects and OPEC restrictions, CNBC reports.

Key Focus ahead

Eurozone: Expect a further decrease in unemployment rate in April to 9.4% - Danske Bank

According to the research team at Danske Bank, the euro-area unemployment figures are likely to show that the labour market continued to strengthen in April.

Euro area HICP: Headline rate to fall back to 1.6% y/y from April’s 1.9% - RBC CM

In view of analysts at RBC Capital Markets, the combined effect of Easter related price rises dropping out of the index and falling petrol pump and home heating oil prices should combine to push euro area inflation lower in May.

Australian CAPEX survey to provide some further guidance on growth prospects - Westpac

Andrew Hanlan, Senior Economist at Westpac, explains that the Australia’s ABS survey of private business investment plans, the CAPEX survey, will provide some further guidance on growth prospects.

GMT
Event
Vol.
Actual
Consensus
Previous
Wednesday, May 31
01:30
0.4%
 
0.4% Revised from 0.3%
01:30
4.9%
 
5.0%
04:00
16.3%
 
4.5% Revised from 4.7%
05:00
-0.2%
 
1.1%
05:00
1.9%
-1.5%
0.2%
05:00
1.004M
 
0.984M
06:00
-0.2%
0.2%
0.2% Revised from 0.1%
06:00
-0.9%
2.3%
2.9% Revised from 2.3%
06:00
1.48
 
1.44 Revised from 1.50
06:00
5.1%
5.3%
5.2% Revised from 5.3%
06:45
 
 
-0.5%
06:45
 
1.1%
1.4%
07:00
 
 
-4.49B
07:00
 
0.3%
0.5%
07:00
 
 
4.2%
07:55
 
-15K
-15K
07:55
 
5.8%
5.8%
08:00
 
11.6%
11.7%
08:00
 
 
4%
08:00
 
 
€-0.2B
08:00
 
 
22.2
08:30
 
£4.5B
£4.7B
08:30
 
£1.500B
£1.624B
08:30
 
66.050K
66.837K
08:30
 
 
6.6%
08:30
 
0.4%
0.3%
09:00
 
1.4%
1.9%
09:00
 
1.5%
2.0%
09:00
 
-0.2%
0.8%
09:00
 
-0.2%
0.4%
09:00
 
 
9.6%
09:00
 
9.4%
9.5%
09:00
 
1.5%
1.9%
09:00
 
1.0%
1.2%
10:00
 
 
2.8%
n/a
 
 
1%
10:00
 
 
6,056.14B
11:00
 
 
4.4%
11:30
 
 
5%
12:00
 
 
12:00
 
-0.83%
-1.10%
12:00
 
6.7%
6.6%
12:00
 
2%
2%
12:00
 
0.1%
0.3%
12:00
 
5.50B
5.22B
12:00
 
7.1%
7.0%
12:00
 
 
-1%
12:30
 
3.9%
2.6%
12:30
 
0.2%
0.0%
12:55
 
 
-1.1%
12:55
 
 
2%
13:00
 
13.9%
13.7%
13:45
 
57.0
58.3
14:00
 
 
0.5%
14:00
 
0.3%
-0.8%
15:00
 
 
9.7%
18:00
 
 
19:00
 
 
-0.4%
20:30
 
 
-1.5M
21:00
 
10.25%
11.25%
22:45
 
3.9%
5.7%
23:00
 
1.95%
1.90%
23:00
 
0.1%
-0.1%
23:30
 
 
59.2
23:50
 
 
3.8%
23:50
 
 
¥778.5B
23:50
 
 
¥-26.4B
Thursday, Jun 01
24h
 
 
00:00
 
 
$12.98B
00:10
 
 
00:30
 
 
52
01:30
 
0.3%
-0.1%
01:30
 
0.8%
-2.1%
01:45
 
50.1
50.3
05:00
 
 
5.4%
05:45
 
 
0.6%
05:45
 
 
0.1%
06:00
 
-0.1%
-0.4%
06:00
 
2.4%
2.6%
06:00
 
 
1.6%
06:00
 
 
52.4
06:30
 
 
38.6%
06:30
 
 
62.5
07:00
 
 
8.9%
07:00
 
 
354.1K
07:00
 
 
€956M
07:00
 
 
55
07:15
 
54.7
54.5
07:15
 
 
2.1%
07:30
 
 
57.4
07:30
 
 
64.3B
07:45
 
56.0
56.2
07:50
 
54
54
07:55
 
59.4
59.4
08:00
 
0.8%
0.8%
08:00
 
0.2%
0.2%
08:00
 
 
48.2
08:00
 
57
57
08:30
 
56.5
57.3
09:00
 
 
$13.616B
n/a
 
 
0.81%
n/a
 
 
1.129%
10:30
 
 
26.5%
10:30
 
 
5.781M
11:30
 
 
36.602K
12:00
 
 
6.27B
12:15
 
185K
177K
12:30
 
 
1.923M
12:30
 
 
234K
13:00
 
 
50.1
13:00
 
 
34,956
13:30
 
 
55.9
13:45
 
 
52.5
14:00
 
54.5
54.8
14:00
 
67.0
68.5
14:00
 
0.5%
-0.2%
14:30
 
 
75B
15:00
 
 
-4.432M
n/a
 
16.97M
16.88M
23:00
 
 
2.7%
23:00
 
 
0.9%
23:50
 
 
19.8%
Friday, Jun 02
24h
 
 
00:00
 
 
-1.1%
04:00
 
 
3.28%
04:00
 
 
0.09%
04:00
 
 
4.17%
05:00
 
 
43.2
07:00
 
 
3.4%
07:00
 
 
-129.3K
08:00
 
 
97.16K
08:00
 
 
2.8%
08:30
 
52.7
53.1
09:00
 
 
-0.5%
09:00
 
0.3%
-0.3%
09:00
 
4.6%
3.9%
11:00
 
 
6.97B
12:00
 
 
-1.8%
12:00
 
 
1.1%
12:30
 
4.4%
4.4%
12:30
 
 
62.9%
12:30
 
0.2%
0.3%
12:30
 
 
2.5%
12:30
 
34.4
34.4
12:30
 
183K
211K
12:30
 
$-46.0B
$-43.7B
12:30
 
 
0.4%
12:30
 
$-0.07B
$-0.14B
12:30
 
 
$46.98B
13:30
 
 
$47.11B
13:45
 
 
55.8
17:00
 
 
722
19:30
 
 
$159.8K
19:30
 
 
$40.4K
19:30
 
 
373K
19:30
 
 
£-23.9K
19:30
 
 
¥-51.7K
19:30
 
 
€64.8K
19:30
 
 
$2.6K

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.