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M3 Money Supply decreased to 5.0%

Friday, Jun 26 2015
The annual growth rate of the broad monetary aggregate M3 decreased to 5.0% in May 2015, from 5.3% in April 2015. Analysts were anticipating increase to 5.4%. The three-month average of the annual growth rates of M3 in the period from March 2015 to May 2015 increased to 5.0%, from 4.7% in the period from February 2015 to April 2015.  
 
Regarding the main components of M3, the annual growth rate of M1 increased to 11.2% in May 2015, from 10.5% in April. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was more negative at -4.2% in May, from -3.3% in the previous month. The annual growth rate of marketable instruments (M3-M2) decreased to 5.0% in May, from 11.9% in April. 
 
Euro is currently being traded few points above 1.12 handle. Pair is likely to find support around 1.1150 area and resistance above 1.1225 level. Later today, in the US session, revised consumer sentiment figures are scheduled for a release.
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