The U.S. and the UK markets were closed yesterday on account of their respective bank holidays. However, that didn’t stop investors from selling the euro currency. Ongoing developments from Italy on the political front push the euro lower on the day despite gapping higher on the open.
Looking ahead, the economic calendar for the day will see the release of the trade balance figures from Switzerland. Later in the day, the U.S. Conference Board’s consumer confidence index is expected to show a modest decline to 128.2 in May, down from 128.7 in April. Despite the anticipated lower reading on the index, consumer confidence in the U.S. is hovering near all-time highs.
The RBNZ will be releasing its financial stability report later in the day.
