Market Roundup- United States Mar national activity index decrease to -0.42 vs prev -0.11
- Turkey Mar central govt debt stock increase to 633.5 bln TRY vs prev 632.5 bln TRY
- Belgium consumer confidence stable at -6 in April - central bank
- Ukraine March industrial output falls 21.1 pct y/y - statistics service
- Fed's Dudley US econ has further to go toward employment, inflation goals
- ECB's Draghi confident inflation will return to ECB objective w/o undue delay
- ECB's Nowotny Grexit would not have same impact as it would have 2 years ago
- ECB's Constancio convinced there will be no Greek exit
- RBA's Stevens says Aussie dollar to fall further, rate cuts not "useless"
- Poloz: U.S. Fed hike would be in positive context of growth, but BOC will have to evaluate whether market response jeopardizes inflation target
- ECB's Noyer: Signaling effects of qe 'very effective', spurred 'significant movements' in markets
- Brazil's BCB survey forecast inflation at 8.23% v 8.13% pvs wk, Levy pledges continued inflation vigilance
Economic Data Ahead
No Significant Data
Key Events Ahead
- (2130 ET/ 0130 GMT) RBA to release the minutes of its April policy meeting
FX Recap
GBP/USD: Pound to be vulnerable to the downside with the UK elections forthcoming in May. GBP/USD is sliping today, currently testing out double bottom ahead of 15th April resistance at 1.4870. The pair is is currently trading at 1.4902 with a high of 1.4985 and a low of 1.4886. Immediate support lies at 1.4865, while on the upside resistances are at 1.5079, 1.5117 and 1.5155. UK events this week include BoE Minutes Wed, and Retail Sales Thursday. Option expiries Tuesday 21 April: 1.4830-35 (350M).
USD/MXN reversed the short term downtrend on Friday as Peso hit the weakest level since March 13. The pair rose further today and peaked at 15.46. From Friday's lows the pair rose 2.25% and is about to post the highest daily close in a month. Resistance levels might lie at 15.465, 15.520 and 15.565 (March 13 high). On the downside support could be located at 15.420 (March 15 high) and 15.365.
USD/JPY is rising for the first time after posting losses during the previous six trading days. The pair gained momentum during the American session and extended gains above 119.00. The pair printed a fresh daily high at 119.35, hitting the highest level since last Thursday. 119.40 is an important short term resistance, that capped the upside several times last week. Above here the next resistance is at 119.70 (Apr 13 low) and 120.00. Support might lie at 118.75, 118.55 (daily low) and 118.30/35 (March 26 low).
EUR/USD: Uncertainty regarding Greece and the upcoming Eurogroup meeting on Friday keep weighing on euro sentiment today. Pair slips further on news of German forecast revision. Currently the pair trades at 1.0730, down 0.71% on the day. Supports seen at 1.0712 (low ), 1.0708 (10-d MA) and finally 1.0704 (Tenkan Sen). On the flip side, the initial hurdle aligns at 1.0799 (21-d MA) followed by 1.0825 (high ) and then 1.0849 (high ). Option expiries Tuesday 21 April: 1.0730 (338M), 1.0800-10 (922M), 1.0850 (462M)
USD/CHF is up modestly on the day. The pair's rise stalled at 0.9600, pullbacks found support at 0.9515/20. USD/CHF currently trades at 0.9565/70, the highest level since the beginning of the American session, up 0.45% for the day. The pair is posting the first gain in a week. Short term outlook continues to favor the downside, but strong support seen around 0.9480 area. Resistance is at 0.9603.
(Source:
http://fxwire.pro/Americas-Roundup-Greenback-in-charge-at-the-start-of-the-week-Grexit-concerns-weigh-on-euro-21-April-2015-27381)
