The euro closed out Tuesday as the best performer while the USD lagged on QE anticipation. I expect some cold feet about the Fed in the day ahead, so USD could bounce back.
The calendar is busy in Japan and Australia today.
At 2245 GMT, New Zealand releases first quarter current account figures with a deficit of NZ$1.145B expected
At 2350, the Bank of Japan publishes the minutes of the May 23 decision. At the same time, Japan releases May trade data. Exports are expected up 9.3% y/y and imports are forecast to be higher by 2.9%. The total trade balance is expected to remain in a 561.1 billion yen deficit. Estimates range from 340B to 809B.
The leading indexes from the Conference Board and Westpac are due at midnight and 0030 GMT, respectively. At 0100 GMT Australian DEWR skilled vacancies for April are to be released. Much later, at 0430 GMT we get Japan’s all-industry activity index for April. It’s expected to rise 0.1% after a 0.3% increase in March.
Also, it’s the first day of summer in Asia and the first day of winter in Australia, consult your astrologist
