ITALY ECONOMY MINSTER PADOAN, ASKED ABOUT GREECE EURO EXIT, SAYS EU SYSTEM MUCH STRONGER THAN BEFORE
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FINNISH FIN MIN STUBB SAYS DONT THINK CONTAMINATION ISSUE IS AS REAL AS IT WAS A FEW YEARS AGO
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HUNGARY CENTRAL BANK SAYS READY TO OFFER EUR 1.1 BLN TO COMMERCIAL BANKS FROM ITS RESERVES TO HELP CONVERT REMAINING FX CAR, CONSUMER AND OTHER LOANS
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FINNISH FIN MIN STUBB SAYS THERE ARE A FEW FINANCE MINISTERS WHOSE PATIENCE IS RUNNING OUT WITH GREECE
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FINNISH FIN MIN STUBB SAYS IN LAST FEW YEARS WE HAVE DONE EVERYTHING IN OUR POWER TO KEEP GREECE IN EURO ZONE, WE WILL CONTINUE TO DO THAT BUT IT IS A TWO-WAY STREET
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Gold prices nudged higher as weaker dollar boosted most commodities Tuesday morning.
The precious metal also enjoyed some safe haven demand amid mounting concerns about the outlook for the global economy.
Gains were modest, however, as traders think the Federal Reserve may be compelled to raise interest rates in September if the U.S. jobs picture continues to brighten.
Gold for August was up $8 at $1,181.10 an ounce.
The Commerce Department is scheduled to release its wholesale inventories report for April at 10 am ET. Economists expect wholesale inventories to have risen by 0.3 percent.
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GERMAN FIN MIN SCHAEUBLE SAYS AFTER TALKS WITH GREECE’S VAROUFAKIS ON MONDAY WE STILL HAVE DIFFERING VIEWS
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Romania’s foreign trade deficit widened in April from a year ago, figures from the National Institute of Statistics showed Tuesday.
The trade deficit rose to EUR 644.2 million in April from EUR 643.7 million in the same month of the previous year. In March, the shortfall was revised down to EUR 808.1 million from EUR 812.8 million.
Exports rose 5.5 percent annually, after 7.2 percent growth in the previous month. Imports grew 4.7 percent following an 11.5 percent surge in March.
However, shipments fell 8.4 percent month-on-month in April and imports dropped by 10.1 percent.
In the January to April period, total trade deficit of the country widened notably to EUR 2.02 billion from EUR 1.76 billion in the corresponding period last year. Exports and imports grew 5 percent and 5.9 percent, respectively.
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It is good to sell on rallies around 140 with SL around 141 for the TP of 138.
Resistance
R1- 141
R2- 142.28
R3- 143
Support
S1-139.50
S2-139
S3-138
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Crude oil prices snapped back Tuesday morning, taking back most of their losses from the previous few sessions.
A weaker dollar gave a number of commodities a lift in early dealing.
U.S. crude oil for July was up $1.33 at $59.41 a barrel.
The U.S. Energy Information Administration is scheduled to release its monthly short-term energy outlook later today, with OPEC and the International Energy Agency to follow with their reports later in the week.
The Commerce Department is scheduled to release its wholesale inventories report for April at 10 am ET. Economists expect wholesale inventories to have risen by 0.3 percent.
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Reversing direction, the New Zealand dollar strengthened against the other major currencies in European deals on Tuesday.
The kiwi climbed to a 6-day high of 0.7177 against the greenback and a 1-week high of 1.0742 versus the aussie, off early lows of 0.7086 and 1.0820, respectively.
The kiwi reversed from an early near 6-month low of 1.5936 against the euro and edged up to 1.5717.
The kiwi, having fallen to an 8-day low of 88.27 versus the yen in early deals, reversed direction with pair trading at 88.94.
The next possible resistance for the kiwi is seen around 0.725 against the greenback, 89.00 against the yen, 1.55 against the euro and 1.05 against the aussie.
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NZ Dollar Advances To 4-day High Of 1.5717 Against Euro
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SLOVAK C.BANK KEEPS 2015 GROWTH OUTLOOK AT 3.2 PCT, 2016 AT 3.8 PCT – QUARTERLY FORECAST
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SLOVAK C.BANK SEES 2015 INFLATION AT -0.1 PCT (PVS FCAST -0.3 PCT), 1.6 PCT IN 2016 (PVS 1.7 PCT) – QUARTERLY FORECAST
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SLOVAK CENTRAL BANK CHIEF MAKUCH SAYS INFLATION TO REMAIN NEGATIVE IN COMING MONTHS, POSITIVE FROM NOVEMBER
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ECB’S MAKUCH SAYS QE IMPACT CAN BE SEEN IN HIGHER INFLATION, INDIRECTLY IN GDP AND EURO/DOLLAR RATE
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NZ Dollar Climbs To 1-week High Of 1.0742 Versus Australian Dollar
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NZ Dollar Extends Rise To 5-day High Of 0.7160 Against U.S. Dollar
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Friday’s jobs report might have given FED hawks some ammunition to fight off the doves and consider rate hike as early as September this year.
Why FED is considering a rate hike with low inflation?
FED officials would like to hike at the earliest so that there could be considerable time gap remains between the two cuts and rate hike impact on the economic activities can be measured and studied.
FED is to announce monetary policy in June 17th. As of now September remains likely date for first rate hike, though June can’t be completely ruled out.
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Iceland’s economic growth slowed marginally in the first quarter, after improving in the previous quarter, preliminary figures from Statistics Iceland showed Tuesday.
Gross domestic product grew 2.9 percent year-over-year in the three months ended March, following a 3.0 percent expansion in the fourth quarter. In the third quarter, the growth rate was 1.7 percent. It was the fourth consecutive quarterly increase.
In the first quarter, total domestic expenditure climbed by 9.9 percent from the previous year. House hold final consumption rose 3.9 percent and government final consumption increased by 1.5 percent.
The gross fixed capital formation surged 23.5 percent, boosted by a 35.9 percent gain in business sector investment.
Exports rose 2.7 percent, but considerably lower than a 17.4 percent growth registered by imports.
On a quarterly basis, the economy contracted a seasonally adjusted 1.5 percent in the March quarter, after a 0.2 percent growth seen in the December quarter.
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