Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.
Euro zone corporate lending surge reaches post-crisis peak
In April, surge in bank loans to euro zone companies demonstrated a fresh post-crisis peak, high, even as a major money supply indicator that often predicts future economic activity, dived more than expected, according to Monday’s fresh data from the ECB.
In April, corporate lending in the 19-country currency bloc tacked on by 2.4%, which is above last month’s 2.3%, while being the highest rate since mid-2009.
While this tempo of surge turned to be less than half of the pre-crisis level, experts still suggest that the ECB's cheap cash was moving to the real economy, even if slower than the EU’s major financial institution previously expected.
Meanwhile, lending to households inched up by 2.4% in April, which is the same level as a month earlier, when it reached its highest value since early 2009.
The annual surge rate of the M3 measure of money, which circulates in the euro zone that often predicted economic activity in the past, demonstrated 4.9% the previous month, compared to 5.3% in March.
This Wednesday will be heaven for day traders. A considerable number of events will make the market volatile. Don't miss it!
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