Market Roundup
- HSBC Brazil services pmi 47.9 in March from 52.3 in February
- HSBC Brazil composite pmi 47.0 in March from 51.3 in February
- Russia CPI up 1.2 pct in March vs +2.2 pct in pvs month (rtrs poll +1.1 pct) - stats service
- Russia Jan-Mar budget balance at -4.9 pct/GDP vs -7.4 pct in Jan-Feb - Fin Min
- Markit U.S. services sector final PMI for March at 59.2 vs flash reading 58.6 and final 57.1 in February
- Markit U.S. services sector final PMI employment index for March at 54.0 vs flash reading 54.0 and 52.7 in Feb
- Markit final U.S. composite PMI for March at 59.2 vs flash reading 58.5 and final 57.2 in Feb
- Markit final U.S. composite employment index for March at 54.0 vs flash reading 53.9 and 52.7 in Feb
- U.S. ISM non-manufacturing sector PMI 56.5 in March (consensus 56.5 ) vs 56.9 in February
- ISM non-manufacturing business activity index 57.5 in March (consensus 59.2) vs 59.4 in February
- ISM non-manufacturing prices paid index 52.4 in March vs 49.7 in February
- ISM non-manufacturing new orders index 57.8 in March vs 56.7 in February
- ISM non-manufacturing employment index 56.6 in March vs 56.4 in February
- Canada IVEY purchasing managers unadjusted index 56 in March
- Canada IVEY purchasing managers seasonally adjusted index 47.9 in March
- Ukraine March consumer price inflation at 45.8 pct y/y vs 34.5 pct in February - Stats Committee
- Ukraine'S foreign currency reserves rise to $ 9.97 bln at end-March from $5.625 bln at end-February - Central Bank
- BOC survey: Balances of opinion on investment, employment intentions declined further due to lower oil prices
- Bank of Canada: Q1 business outlook survey shows firms do not expect material increase in sales growth over next 12 months
- Fed'S Dudley: Not concerned about 'a few signs' of excess in financial markets
- Fed'S Dudley: 10-Year treasury yields seem low given Fed aims to achieve 2 pct inflation
- Dudley: Fed could pause rate hikes if markets react too strongly to tightening
- Dudley confident NY Fed has tools to effectively tighten policy
- Fed'S Dudley: Diminished resource slack to offset disinflationary pressure from dollar
- Dudley: Fed will hike if reasonably confident inflation will rise to 2 pct goal Fed watching recent U.S. weakness; rate-hike timing unclear-Dudley
- Dudley: low oil, high dollar pose risks to U.S. outlook
- White House: Iran sanctions phase-out still to be negotiated
- Oil leaps 5 pect on tempered Iran view, slower U.S. inventory rise
- (2130 ET/ 0130 GMT) Australia Retail Sales Feb (consensus 0.4, previous 0.4)
- (2130 ET/ 0130 GMT) Australia ANZ Newspaper Mar (previous 8.1)
- (2130 ET/ 0130 GMT) Australia RBA Cash Rate (consensus 2.25%, previous 2.25%)
- BOJ begins two-day policy meeting
USD/JPY is slowly recovering part of the deep pullback following the grim Payrolls on Friday. The pair is rebounding of the area around 118.70 as the greenback is now gathering traction vs. its Japanese counterpart. The firmer tone from the US Treasuries is giving the greenback extra fuel at the beginning of the week. Currently the pair is trading at 119.32, with next barrier at 120.19 ahead of 120.37 (high ) and finally 121.00. Supports seen at 119.45, 119.42 and then 119.35.
EUR/USD surrenders gains so far, coming back from intraday highs near 1.1040 to test 1.0980 amidst thin trade and scarce volume due to the Easter Monday holiday. The greenback has reverted the initial negative trend and is currently flirting with session highs near 96.80 in term of the US Dollar Index (DXY). At the time of writing the pair is retreating 0.01% at 1.0977 with the immediate support at 1.0867 followed by 1.0766 and then 1.0718. Resistances seen at 1.1036, 1.1052 and finally 1.1062.
EUR/CHF moving towards 1.0500, rising for the third consecutive day. The pair is recovering from levels under 1.0400, peaked during the American session at 1.0493. The pair is moving with a bullish bias on the short term. Immediate resistance lies at 1.0500, 1.0525/30 and 1.0545 (March 25 high). On the flipside support might be located at 1.0465, 1.0435 and 1.0415/20.
GBP/USD climbed to 1.4981, reaching the strongest level in a week but then erased all gains. The pair pulled back further during the American session as the greenback strengthened in the market during the last hours favoring the downside in the GBP/USD pair. Cable was again capped by 1.5000. Last month the mentioned level capped the upside serveral times.
AUD/USD advanced to fresh daily highs during the American session, but gave up some ground afterward as the greenback trimmed losses across the board. Markets cautious ahead of RBA monetary policy decision. RBA is expected leave rates unchanged on Tuesday according to most recent polls, although it is a close call. At time of writing, the pair is trading at 0.7645, still up 0.20% on the day.
