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EU Market Update TRADETHENEWS.COM STAFF
UK inflation comes in lower than expected and offers BOE more room to stimulate if data does disappoint   
Tue, 21 May 05:50 AM EST/10:50 AM GMT
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Notes/Observations
- RBA minutes: rate cut appropriate to boost growth; subdues growth & inflation provided room to cut rates; AUD high by historical standards
- The USD/JPY was steady after the Japanese Econ Min Amari backed off from his comments expressing satisfaction with the current value of the JPY
- Germany's Chancellor Merkel said to be considering certain treaty changes aimed at giving more powers to Brussels
- Draft EU law to protect insured bank depositors under €100k; larger depositors could suffer losses after equity and bond holders hit
- UK inflation comes in lower than expected and offers BOE more room to stimulate if data does disappoint
- Thursday data calendar to see a number of flash PMI reports - including China


Economic Data
- (JP) Japan Mar All Industry Activity Index M/M: -0.3% v -0.4%e
- (JP) Japan Apr Supermarket Sales Y/Y: -1.9% v +1.7% prior
- (DE) Germany Apr Producer Prices M/M: -0.2% v -0.1%e; Y/Y: 0.1% v 0.2%e
- (FI) Finland Apr Unemployment Rate: 8.8% v 8.8%e
- (ZA) South Africa Mar Leading Indicator: 101.9 (rebased) v 133.3 prior
- (CH) Swiss Apr M3 Money Supply M3 Y/Y: 10.2% v 9.9% prior
- (EU) ECB: €190M borrowed in overnight loan facility vs. €122M prior; €85.0B park ...
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