Market Roundup
Japan FinMin Aso: No comment on Hamada JPY remarks, to tell G20 Japan economy recovering.
Japan EconMin Amari: No comment on FX levels, up to market to decide levels, volatility not desirable.
Singapore MAS leaves policy unchanged, SGD rallies.
UK March BRC like-for-like retail sales +3.2% y6/y, total sales +4.7%, both best since April 14, early Easter cited, growth slow but steady.
Australia March NAB business conditions index +6, confidence +3, Feb +2, zero.
New Zealand Q1 business confidence net +23%, cap utilization 92.3%, Q4 net +24%, 92.0%.
New Zealand March REINZ residential hour price index +6.7% m/m, +9.5% y/y.
Economic Data Ahead
(0200 EDT/0600 GMT) Sweden Mar unemployment; previous 8.1%.
(0300 EDT/0700GMT) Spain Mar CPI, +0.6% m/m, -0.7% y/y consensus; previous+0.2%, -1.1%.
(0300 EDT/0700GMT) Spain Mar HICP, +2.1% m/m, -0.7% y/y consensus; flash +2.1%, -0.7%.
(0330 EDT/0730GMT) Sweden Mar CPI,+0.2% m/m, +0.3% y/y consensus; previous+0.7%, +0.1%.
(0330 EDT/0730GMT) Sweden Mar CPIF, +0.3% m/m, +1.1% y/y consensus; previous+0.8%, +0.9%.
(0400 EDT/0800GMT) Italy Mar CPI- final, +0.1% m/m, -0.1% y/y consensus; prelim +0.1%, -0.1%.
(0400 EDT/0800GMT) Italy Mar HICP - final, +2.0% m/m, -0.1% y/y consensus; prelim +2.0%, -0.1%.
(0430 EDT/0830GMT) UK Mar CPI,+0.2% m/m,unchanged y/y consensus; previous +0.3%, unchanged.
(0430 EDT/0830GMT) UK Mar RPI,+0.3% m/m, +1.0% y/y consensus; previous +0.5%, +1.0%.
(0430 EDT/0830GMT) UK Mar RPIX, +0.3% m/m, +1.0% y/y consensus; previous +0.5%, +1.0%.
(0430 EDT/0830GMT) UK Mar PPI - output, +0.2% m/m, -1.8% y/y consensus; previous +0.2%, -1.8%.
(0430 EDT/0830GMT) UK Mar - core, +0.1% m/m, +0.1% y/y consensus; previous +0.1%, +0.2%.
(0430 EDT/0830GMT) UK Mar PPI - input, -0.5% m/m, -13.5% y/y consensus; previous +0.2%, -13.5%.
(0500 EDT/0900GMT) Eurozone Mar industrial output, +0.4% m/m, +0.7% y/y consensus; previous -0.1%, +1.2%.
(0830 EDT/1230GMT) US Mar retail sales, +1.0% m/m consensus; previous -0.6%.
(0830 EDT/1230GMT) US Mar - ex-autos,+0.6% m/m consensus; previous -0.1%.
(0830 EDT/1230GMT) US Mar PPI,+0.2% m/m, -0.8% y/y consensus; previous -0.5%, -0.6%.
(0830 EDT/1230GMT) US Mar - ex-f/e, +0.1% m/m, +0.9% y/y consensus; previous -0.5%, +1.0%.
(0900 EDT/1300 GMT) US Mar NFIB business optimism index; previous 98.0.
(1000 EDT/1400GMT) US Feb business inventories, +0.2% m/m consensus; previous unch.
Key Events Ahead
N/A Greek FinMikn Varoufakis, Swiss govt officials meeting in Athens.
N/A Norges Bank DepGov Nicolaisen speech in Oslo.
N/A Belgium 3/12-month treasury certificate auctions.
(0400 EDT/0800GMT) Netherlands E2-3 bln 0.25% 2020 DSL auction.
(0530 EDT/0930GMT) Norges bank Gov Olsen speech at Rome event.
(0530 EDT/0930GMT) ECB 7-day refi at fixed 0.05%, E105 bln allotment eyed, last E108.3 bln.
(0735 EDT/1135GMT) Riksbank DepGov Skingsley at Stockholm seminar.
FX Recap
USD/JPY broke below the 120.00 handle in the Asian session, as yen continued to strengthen after Koichi Hamada said that yen is too weak, in light of purchasing parity. It currently trades at 119.95 levels with a high of 120.16 and low of 119.73 levels. On the topside, resistance is seen at 120.21 (5-DMA) levels and above which gains could be extended to 120.88 (April 13 High) levels. On the flipside, support might be found at 119.75 (20-DMA) and then at 119.35 (100-DMA) levels.
AUD/USD is seeking to break the 0.76 levels and currently trades at 0.7590 levels. It posted a high of 0.7623 levels after breaking the 0.76 level temporarily, and a low of 0.7581 levels. The AUD is being supported by upbeat NAB Business Confidence numbers. The pair is likely to face resistance at 0.7642 (10-DMA) levels, and then at 0.7690 (20-DMA) levels. On the downside, support is located at 0.7600 levels, below which it could be dragged to 0.7585 (Today's Low) levels.
NZD/USD is trying to recover losses seen in the previous session due to downbeat Chinese trade data. It currently trades at 0.7465 levels and is edging closer to the 0.75 mark. The pair sees immediate resistance at 0.7485 levels and a break above could push it to 0.7500 levels. On the other hand, support is likely to be found at 0.7450 levels, below which losses could be extended to 0.7420 levels.
GBP/USD remained somewhat subdued in Asia, off from 1.4680 to 1.4661 before consolidating to 1.4692 levels. Imitating EUR/USD, it later fell back to 1.4652 levels. EUR/GBP was seen in choppy trade between 0.7200-13 range, just above yesterday's 0.7198 low.
EUR/USD continued its move downwards and traded in the red in Asia. It currently trades at 1.0549 levels, with a high of 1.0592 levels and a low of 1.0545 levels. On the downside, support is located at 1.0500 levels and then at 1.0460 (March 8 Low) levels. On the flipside, resistance is located at 1.0619 (Today's High) levels, above which it could extend its gains to 1.0700 levels.
(Source:
http://fxwire.pro/Europe-Open-Aussie-supported-by-upbeat-Australian-NAB-Business-Conditions-14-April-2015-24404)
