FOREX News and Overnight Technical Levels - June 27th

[B]Market At A Glance[/B]

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[B]New Zealand Dollar[/B]

  • New Zealand trade balance narrowed to NZ$5.87 from last month?s NZ$5.82 as exports rose to a 12-month high.

[B]Asia - JPY/CNY[/B]

  • Japanese retail sales rose for the first time in eight months in May. According to the Ministry of Economy, retail sales eked out a 0.1 percent gain from the same month the previous year mainly due to weather factors.
  • The yen rose the most in 10 weeks as investors pared holdings of emerging-market bonds and stocks funded by loans in the Japanese currency.
  • Bank of Japan official Tetsuya Inoue said today he anticipates massive capital outflows as Japanese households seek to diversify domestic assets.
  • China’s finance ministry plans to sell 1.55 trillion Yuan ($200 billion) of bonds as part of a plan to increase returns on foreign-exchange reserves and drain cash from the world’s fastest-growing major economy.
    [B]Europe - EUR/GBP/CHF[/B]
  • EUR: The French National Institute of Statistics and Economic Studies released their Business Confidence data conveying a rise to 110 in June from the 108 level in May.
  • GBP: CBI Distributive Trades reflects disappointing retail sales, but GBP remains steady as expectations of a BoE rate hike heighten.
  • Switzerland?s KOF index of leading economic indicators rose to 1.98 from last month?s 1.96, marking the seventh consecutive monthly increase, but fell short of the anticipated key psychological level of 2.00.