Sterling stays firm against other major currencies as markets await BoE meeting minutes. The minutes are expected to show unanimous vote for keeping bank rate unchanged at 0.50% and held the asset purchase target at GBP 375b in the June meeting. According to a Reuters pol, economists generally expected the first hike to come next year. There is 55% chance for a hike before next April, and 70% chance by the end of June 2016. And overall, it should be noted that there are expectations that BoE's tightening would after after Fed and be a "mini" version of it. Also, UK will release employment data which is expected to show -13.8k fall in jobless claims in May. Unemployment rate is expected to be unchanged at 5.5% in April. Bedsides, Swiss will release ZEW and Eurozone will release CPI final.
Another major focus is FOMC rate decision. Whilst the Fed has indicated that policymakers won't tighten in June, the upcoming meeting is still closely watched. Following the meeting, the Fed would release the latest economic whilst Chair Janet Yellen will hold a press conference. We believe recent economic data should ease concerns of some members that moderation in 1Q15 would be drive by more than transitory factors. The number of payrolls added in May, robust retail sales and the upbeat Quarterly Service Survey all pointed to a pickup of economic growth in the second half of the year. We retain the view that the Fed would begin hiking interest in September. More in FOMC Preview: No Rate Hike in June, But Probably Soon.
Elsewhere, New Zealand current account surplus came in wider than expected at NZD 0..662b in Q1. Japan trade deficit narrowed to JPY -0.18T in May. Australia Westpac leading indicator dropped -0.1% mom in May.