•
Greece heads into the endgame
– Not enough
money to pay its bills; no agreement yet with creditors
– Could
reappear as risk factor for euro this week
•
Australia still has scope to lower rates:
Deputy Gov. Lowe
– Said
“nothing has changed” despite removal of easing bias from RBA statement
– AUD lower
on his comments; may continue to ease
•
Today:
– Eurozone,
UK: No major indicators. Fed’s Evans, Riksbank Governor Ingves and
ECB’s Mersch speak at a seminar in Stockholm.
– US: NAHB
housing market index for May
•
This week:
– Tuesday: RBA minutes
likely to shed more light on whether RBA retains easing bias; could be
AUD-negative. NZ inflation expectations may weigh on NZD. ZEW survey.
– Wednesday: Bank
of England and Fed release minutes of their latest meetings. BoE may repeat
that next move likely to be tightening, could be GBP-positive; Fed minutes may
show Fed still on track to hike rates = USD-positive.
– Thursday: PMI day
globally
– Friday:
Bank of Japan meeting usually non-event; focus to be on the usual
Kuroda press conference afterwards. Ifo survey, US & Canada CPI
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