Good morning, afternoon, or evening depending on where you are on the globe, and welcome to the beginning of the new FX week.
If you are North America, I hope you are having a lovely Sunday and have adjusted your times for the start of daylight saving for 2014.
At this time, with only the New Zealand market open, market liquidity is super thin compared to most other times of the trading week, so please take care out there.
Here’s the early price guide so we can see what the Kiwis are up to:
EBS showing:
- USD/JPY low 102.63
- AUD/USD low 0.9032
- GBP/USD high 1.6749
Weekend news:
- China trade balance for February: -$22.99bn (yes, a trade deficit) (expected +$14.00bn, prior +$31.86bn)
- SNB would defend franc cap if Ukraine woes push up currency, Jordan tells paper
- Moody’s boosts outlook for Netherlands, Belgium – raised both to stable from negative
- China February CPI: +2.0% y/y (vs. expected +2.1%) …. & PPI -2.0% y/y (vs. expected -1.9%)
- The mystery of the MH370
- Putin and Merkel agree a common interest in de-escalation of tensions over Ukraine
Again, the usual caveats apply – it is relatively illiquid and prices can move sharply on not very much at all.
