- ECB monthly bulletin echoes Draghi’s April 4 policy statement
- Magnitude 7.1 earthquake strikes 93 miles west of La Dolce, Sonora, Mexico
- Norges Bank Governor: The underlying European issue is lack of growth
- ECB’s Asmussen in Dublin: If Ireland honours commitments good chance it can return to markets before end of bailout
- Italian auction results
- Japan govt: Keeps economic assessment unchanged in April report
- BOJ’s Hayakawa: Japan’s economy is more or less flat. Global economy, strong yen remain risks for Japan
- ECB’s Liikanen: Believes Spain can sort out public finances despite current market uncertainty
- French March CPI +0.8% m/m, +2.35 y/y, stronger than median forecasts +0.6%, +2.1% respectively
- UK February visible trade balance -£8.772 bln, worse than median forecast of -£7.7 bln
- Eurozone January industrial production +0.5% m/m, -1.8% y/y versus median forecasts of -0.3%, -1.8% respectively
- Greek January unemployment 21.8%, up from 21.2% in December
- Europe’s banks beached as ECB stimulus runs dry – AEP at the Telegraph
EUR/USD effectively unchanged at 1.3125. Early rally floundered on BIS selling circa 1.3150. Buy orders are noted clustered down at 1.3090/00 and we’ve gently traded two and fro between the 1.3100 and 1.3150 parameters. Inertia rools OK!!
Sell stops noted through both 1.3090 and 1.3080.
USD/JPY up 15 pips on the day at 81.05. Speculation we’ll see more BOJ easing at their next meet is lending the pairing underpinning.
Cable up fractionally at 1.5940 from early 1.5920, having been as high as 1.5957. Funnily enough the session high was posted just after the release of crappy UK trade data. Go figure.
