Market news
16.04.2013, 06:04

Asian session: The yen fell

01:30 Australia RBA Meeting's Minutes April

01:30 Australia New Motor Vehicle Sales (MoM) March -0.1% -0.6%

01:30 Australia New Motor Vehicle Sales (YoY) March +9.4% +4.5%

02:55 Australia RBA Assist Gov Debelle Speaks


The yen has continued to weaken since that statement as Haruhiko Kuroda took over as BOJ governor and pledged to do whatever it takes to defeat deflation. The U.S. Treasury said in its semi-annual currency report that Japan must “remain oriented towards meeting respective domestic objectives using domestic instruments and to refrain from competitive devaluation.” Draghi said in Amsterdam yesterday that the increased stimulus announced by the BOJ is “determined by domestic policy considerations” and that “there is no currency war.” Finance ministers and central bankers from the G-20 nations will gather this week in Washington.

The Dollar Index fell for the first time in three days before U.S. data that may show inflation was contained and growth in factory output slowed. The U.S. Labor Department will probably say today that inflation as measured by consumer prices stalled in March from the previous month, when it climbed 0.7 percent, according to the median estimate of economists surveyed by Bloomberg News. The consumer-price index advanced 1.6 percent from a year earlier, the poll predicted, following a 2 percent gain in February.

New Zealand’s dollar rallied from its biggest drop in more than a year.


EUR / USD: yesterday the pair rose, retreating from yesterday's low

GBP / USD: yesterday the pair rose to $ 1.5300.

USD / JPY: yesterday the pair rose to Y97.50.

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Tuesday sees a full calendar on both sides of the Atlantic, with a plethora of central bank speakers. There is no early European data, so the first releases come from the UK, when March CPI and PPI numbers will cross the wires at 0830GMT. Also at 0830GMT, the February House Price Index from the UK government will be released. The main Continental release will see the release of the German April ZEW survey at 0900GMT. Also at 0900G,T. the Eurozone March final HICP numbers are expected. with a month earlier, but the increase was not nearly as sharp as in February and seasonal factors expect a large price rise in March. The core CPI is expected to rise 0.2%.

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