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Forex Flash: Australia with softer PMI and housing prices, pressure on consumer spending – TD Securities

FXstreet.com (Barcelona) - Soft second-tier data in Australia today: “The manufacturing PMI declined 7.7pts to 36.7, lowest in three years, as the high AUD continue to put pressure on manufacturers. House prices declined –0.5% in April (following +2.8% over Q1), but as the data is not seasonally adjusted, we prefer to look at the y/y measure, which rose from 2.4% to 2.7% y/y”, wrote TD Securities analyst Alvin Pontoh, expecting near term downside pressure for consumer spending after the confirmation that the Government plans to announce an increase in the Medicare levy in the upcoming Budget to fund the new disability insurance scheme.

Forex Flash: Europe calm with ECB in line tomorrow - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that like Asia, much of Europe is closed today so there is little in focus in terms of economic data.
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Forex: EUR/USD inching higher towards 1.3200

The bloc currency is attempting to break above the key resistance at 1.3200 on Wednesday, propped up by the increasing risk appetite ahead of the FOMC gathering due this evening. ...
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