Antipodeans given rough ride as data misses...>

FOREX: Antipodeans given rough ride as data misses

-A dour set of NZ manufacturing PMI numbers led NZD lower overnight, with AUD

following close behind. A negative close for NZD/USD Friday would mark the fifth

consecutive daily loss for the pair, putting NZD/USD on track to test the recent

cycle (and YTD lows) at $0.6482. At the other end of the table, SEK outperforms

as May CPI beat expectations (0.3% m/m vs. Exp 0.1%, 2.2% y/y vs. Exp. 2.0%).

EUR/SEK found some support at the 50-dma of 10.6359, but a break and close below

here would open the month's lows at 10.5898 and the 100-dma.

-Broadly, risk sentiment is weak, with core European equity markets down

0.4-0.7%, leading US futures lower and indicating a lower open on Wall Street.

The US yield curve is falling further, helping sap any momentum in USD/JPY,

which touched the week's lows at Y108.16 in early Europe.

-Focus turns to US retail sales, industrial production for May and the prelim

Uni. of Michigan survey for June. Canadian existing home sales are also due and

the Russian rate decision for June. BoE governor Carney is scheduled to speak

from London at 1355BST.