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Flash: Constructive stance remains on euro prospects – ANZ

FXstreet.com (Barcelona) - As the euro area works to solve its banking crisis, non-bank sources of finance must be developed. The establishment of an active ABS market for SME loans would be an interesting development in that regard and could attract capital inflows.

According to the ANZ Research Team, “For varying reasons, we remain constructive on the prospects for the euro. This is currently evident on the crosses like AUD/EUR, EUR/GBP and EUR/JPY, and we expect that this general trend will continue. However, the low level of US inflation may add an extra dimension to suggest that EUR/USD could be poised to move higher.”

Flash: EUR/USD faces bearish picture despite recent strength – UBS

UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses and note that there is a generally neutral-trending bias ahead.
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US: Chicago Purchasing Managers Index rises to 58.7 in May

The MNI Deutche Börse Group informed today that the Chicago Purchasing Managers Index increased to 58.7 in May, from 49 in April, exceeding expectations for a slight rise to 50.
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