Japanese markets were closed today due to a public holiday, however, stocks in China closed higher as investors sentiment was boosted over expectations of higher returns on dividends. The index share average was led by gains in the Technology and computing software sectors. The Shanghai Composite Index was slightly up by 0.01%. Following the release of positive data from New Zealand, the NZD is trading with Bullish sentiment against a basket of major currencies. The Exports, Imports, monthly and yearly Trade Balance all beat analysts’ expectations. More data from New Zealand data will be release later this evening, including, the Interest rate decision and RBNZ Rate statement.

During the European session, the Euro was trading higher against a basket of major currencies as developments were made in Greece over the country’s debt bailout agreement. Officials handed the responsibility of the reforms to Deputy Foreign Minister Euclid Tsakalotus and limited the role of Finance Minister Yaris Varoufakis.

At the open of the U.S. session, the Euro strengthened further against the Dollar and has reached its highest level since March 1st. Sentiment weighed on the USD following the release of data out of the states. The GDP Price Index declined 0.1%, analysts were expecting an increase of 0.5%, more importantly, and the GDP for the first quarter grew just 0.2%, below the forecast figure of 1.0%. This negative data added to concerns that the Central bank may further delay an interest rate hike.

Market spectators are now awaiting the FOMC Statement and interest rate decision taking place at 19:00 GMT.

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