EUR
The index for the Euro area factory and services unexpectedly rose to the
highest in more than four years this month as growth gained momentum in Germany
and France. France’s gauge of the two industries climbed to the highest since
2011 and growth in Germany also strengthened. European Central Bank
stimulus and a weaker euro helped boost euro-area growth to 0.4 percent in the
first quarter.

After a day of marathon talks on Monday, European leaders gave Greek Prime

EUR
The index for the Euro area factory and services unexpectedly rose to the
highest in more than four years this month as growth gained momentum in Germany
and France. France’s gauge of the two industries climbed to the highest since
2011 and growth in Germany also strengthened. European Central Bank
stimulus and a weaker euro helped boost euro-area growth to 0.4 percent in the
first quarter.

After a day of marathon talks on Monday, European leaders gave Greek Prime
Minister Alexis Tsipras’s government 48 hours to make a final effort to satisfy
creditors and end a five-month standoff. Leaders from Greece’s 18 fellow
euro-zone countries agreed to step up the pace of negotiations to secure a
breakthrough on Wednesday that leaders can sign off at the end of the week.

USD
Orders for business equipment rose in May for just the second time this year,
indicating demand for American-made manufactured goods is stabilizing.Orders
for non-military capital goods excluding aircraft rose 0.4 percent last month
after a 0.3 percent decline in April, orders for all durable goods declined 1.8
percent.

Exports will probably take longer to rebound as the dollar’s appreciation makes
American-made goods less competitive globally. A pick-up in business
investment would go a long way towards boosting growth in the world’s largest
economy, which suffered a setback in the first quarter amid harsh winter
weather, a strong dollar and delays at ports.

GBP
Property sales data has provided more evidence that the UK housing market is
moving more slowly than a year ago. A total of 98,540 homes were sold in May,
seasonally-adjusted figures from HM Revenue and Customs (HMRC) show, down 3% on
a year earlier.

The first nine months of 2014 saw property being sold at the fastest rate since
before the financial crisis. The HMRC figures cover properties sold for more
than £40,000 across the UK. Some 1.7 million homes were sold in 2006, at the
height of the property boom. This fell to 848,000 in 2009, but rose to 1.2
million last year. In recent months sales have fallen back to below 100,000 a
month.

Key
Announcements
13:30 – USD – Final GDP Q1 expected to improve to -0.2% from -0.7%