Daily FX Update, 15 May 2015

v  US initial jobless claims were little changed at 264k  v  US April producer prices report disappoints market expectations on both the headline and core measures  v  Draghi tells that the expanded asset purchase program would remain in place         v  China's fiscal spending jumped 33.2% y/y in April  v  IMF downgrades its growth outlook for South Korea   v  The Philippine central bank decides to maintain its key interest rates unchanged