- Iceland’s rating outlook changed to negative from stable – Moody’s
- Greek banks being hit by wealthy citizens moving money offshore – Telegraph
- Greece wants to amend EMU aid deal, bypassing IMF – Market News
- EUCommission says has no comment on reports Greece trying to renegotiate terms of EU-IMF support
- Greece to target US investors with bond – FT
- UK PM Brown confirms general election to be held May 6th
- Labour could win most seats at general election – Guardian/ICM poll
- Russia central bank moves intervention level to 33.70 roubles/basket from 33.75 after buying around $700 mln – Dealers
- Yuan appreciation is not the solution to rebalancing Sino-US trade – China Foreign Ministry
- German new car regiatrations fall 26.5% in March. Fall 23% in Q1 – VDIK
- Swiss March CPI +0.1% m/m, +1.4% y/y, exactly as expected
- Prospects for both US, Indian economies “encouraging” – US Treasury Secretary Geithner in New Delhi
- Euro zone sentix index 2.5 in April, up from -7.5 in March, better than median forecast -5.2. First positive reading since June 2008
- UK March construction PMI index 53.1, up from 48.5 in February. Better than median forecast 48.8 and highest read in more than 2 years
- UK housing equity withdrawal -£4.038 bln in Q4 – Bk of England
Sterling has had a poor morning as Gordon Brown officially announces the general election will be held as expected on May 6th. Cable is down at 1.5145 from early 1.5225, while EUR/GBP is up at .8850 from around .8820. Traders will have noticed the ICM/Guardian poll (see above) showing gap between two main parties at only 4 points.
EUR/USD down at 1.3405 from early 1.3430, Greece worries still to the fore (see above). Pairing has so far managed to hold above 1.3400 (session low 1.3401), probably due to concerns of running into renewed sovereign buying below said level . Talk of stops below 1.3400 and more below 1.3370.
USD/JPY sits at 93.90, effectively unchanged on the day after very narrow rangebound trade.
AUD/USD sits at .9245, holding onto bulk of rate hike-induced gains.
EUR/CHF steady at 1.4322. Still mumblings of SNB on the bid around 1.4320.
