The dollar is losing ground against all of its major competitors Monday. Early gains against both the Euro and the pound have eroded as concerns over a Greek default have eased a bit.
Negotiations between Greece and its creditors broke down over the weekend. The country faces a crucial 1.6 billion...
Even as disheartened Greeks queued up in front of ATMs over the weekend in an attempt to extract their cash, European leaders on Monday urged them to vote 'yes' in the upcoming referendum on the bailout, stressing that it was in the country's interest that it remains in the euro area.
After reporting a sharp jump in U.S. pending home sales in the previous month, the National Association of Realtors released a report on Monday showing that pending home sales saw further upside in May.
Ahead of Greece crisis escalating over the weekend, Eurozone economic confidence fell slightly in June on a mild deterioration of industrial and retailer sentiment. The economic confidence index fell unexpectedly to 103.5 in June from 103.8 in May, survey data from the European Commission showed Monday. It was forecast to remain unchanged at 103.8.
Greece closed its banks and imposed capital controls on Monday in order to avoid a financial collapse as the failure of debt talks with the EU makes it difficult to honor the payment due on June 30. The banks will remain closed until July 6 and introduced a limit of 60 euro on daily cash withdrawals from cash machines after the European Central Bank froze its funding for Greek banks.
Economic confidence from euro area and consumer prices from Germany are due on Monday, headlining a light day for the European economic news.
Industrial output in Japan tumbled a seasonally adjusted 2.2 percent on month in May, the Ministry of Economy, Trade and Industry said on Monday.
That missed forecasts for a decline of 0.87 percent following the 1.2 percent increase in April.
On a yearly basis, industrial production shed 4.0 percent...
Greece has stunned European policymakers with its surprising call for a referendum next weekend on the terms of the bailout extension put forward by its European creditors even as the EUR 245 billion bailout is scheduled to expire on Tuesday. Greek Prime Minister Alexis Tsipras took the decision after an emergency meeting he held with his cabinet on Friday night.
The dollar is posting modest gains against its major competitors at the end of the week, after consumer sentiment for June came in better than expected. The gains in the U.S. currency have been muted as investors remain focused on Greece ahead of crucial negotiations this weekend.
Consumer sentiment in the U.S. has improved by even more than previously estimated in the month of June, according to a report released by the University of Michigan on Friday. The report said the consumer sentiment index for June was upwardly revised to 96.1 from the mid-month reading of 94.6.
Greece's creditors have proposed a five-month extension of its current bailout programme if the government agrees to a set of reforms, reports said citing officials and leaked documents. The country's massive EUR 240 billion bailout will be extended till the end of November, when a total EUR 12 billion aid will be offered.
Eurozone banks' lending to private sector grew at the fastest pace in more than three years in May indicating that demand for credit has also started to recover with economic growth.
Consumer confidence from France and private sector lending from euro area are due on Friday, headlining a light day for the European economic news.
Inflation in Japan advanced 0.5 percent on year in May, the Ministry of Internal Affairs and Communications said on Friday.
That beat forecasts for an increase of 0.4 percent following the 0.6 percent increase in April.
Core CPI, which strips out the volatile costs of food, added an annual 0.1...
New Zealand posted a merchandise trade surplus of NZ$350 million in May, Statistics New Zealand said on Friday - or 8.0 percent of exports.
The headline figure beat forecasts for a deficit of NZ$100 million following the upwardly revised NZ$183 million surplus in April (originally NZ$123 million).