Influential announcements due today, 04 June

on Jun 4, 2013
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The Australian current account balance for the first quarter of 2013 fell less than expected, to -AUD8.5 billion as against -AUD14.8 billion for the prior quarter, according to data released by the Australian Bureau of Statistics at 02.30 BST today.

Also at that time Japan’s labour cash earnings for May y/y was released by the Ministry of Health, Labour and Welfare, showing a 0.3 percent increase compared with a fall of -0.9 percent in April.
After the Bank of Japan’s announcement yesterday that the country’s monetary base had climbed 31.6 percent in May, the USD/JPY receded 0.02 percent. Subsequently during today’s Asian session, the pair has dropped below 100 and is currently trading around 99.85/90.

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At 05:30 BST the Reserve Bank of Australia announced its benchmark interest rate decision, which is to hold the rate at 2.75 percent.
In consequence, the AUD traded lower against the greenback during Tuesday’s Asian session, falling to 0.9688.
The US construction Purchasing Managers Index (PMI) for May is due to be released at 09:30 BST by the Chartered Institute of Purchasing and Supply and Markit Economics. The forecasts show 49.6.

The Eurozone Producer Price Index (PPI) for April y/y will be released by the EC’s Eurostat at 10:00 BST.
And at 13:30 BST the US trade balance for April is due out from the Bureau of Economic Analysis and the US Census Bureau. The trade balance is a major component in the United States balance of payments and the numbers are likely to affect pricing of the EUR/USD, USD/JPY and GBP/USD currency pairs.

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