European session: the euro exchange rate against the dollar has increased markedly

Data

00:30 Japan BOJ Governor Haruhiko Kuroda Speaks

01:30 Australia New Motor Vehicle Sales (YoY) March -3.5% -2.8%

01:30 Australia NAB Quarterly Business Confidence Quarter I 8 6

01:30 Australia New Motor Vehicle Sales (MoM) March +0.1% -0.3%

05:00 Japan Consumer Confidence March 38.3 40.2 37.5

06:00 Germany Producer Price Index (MoM) March 0.0% +0.1% -0.3%

06:00 Germany Producer Price Index (YoY) March -0.9% -0.7% -0.9%

The euro exchange rate has risen considerably against the dollar on the statements of the Fed and the current data in Germany. Note that yesterday , Federal Reserve Chairman Janet Yellen stressed : Central Bank will retain maximum flexibility in monetary policy and depart from graphs to increase the base interest rate . " We must be prepared for what is happening in the economy and to respond to what might happen, and our vision for the future should not become an obsession ," - she said. Most analysts believe that the recent comments Yellen - this is another attempt to move away from comments on March 19 debut press conference as chairman of the Federal Reserve System , when she said that the key interest rate of the Central Bank could grow approximately six months after the termination of bond purchases .

As for the data , they showed that the March producer price index fell by 0.9 percent ( yoy ) , following a similar change in the previous month . Economists had expected a decline of this indicator only 0.7 percent . Add that producer prices declined every month since last August , and the largest decline was seen in January , when they fell 1.1 percent . Excluding energy , producer prices fell in March by 0.3 percent year on year . Meanwhile, add that on a monthly basis the producer price index fell in March by 0.3 percent after zero change in the previous month and a decline of 0.1 percent in January . Economists forecast that this figure will grow by 0.1 percent.

The pound fell sharply against the dollar , returning to the levels of the opening of the current session . Initially, growth was due to renewed expectations of imminent rate hike by the Bank of England. Recent improvements in the state of the British labor market triggered a surge of expectations, which , in turn , led to rally pound. However, after reaching a pair of four-year high , many investors began to fix their profits , which caused such a fall . We also add that the attention of the market gradually switched to the publication of minutes of meeting of the Bank of England , declared the following week.

Yen traded with a slight advantage against the dollar , which is associated with an increase in the Bank of Japan's evaluation of one of the nine regional economies in the nation . It convinces the market that central bankers are still predicting a modest economic recovery , despite the problems due to the increased tax burden on consumers. Investors take positions before further steps to mitigate the monetary policy , while the Bank of Japan is waiting for signs of weakening domestic consumption after the recent increase in the sales tax . The rating was raised in Hokuriku region on the northern part of Honshu Island . Members of the Bank of Japan before its meeting on April 30 want to see the report on GDP growth and prices.

Meanwhile, we add that , despite the weakening of the head of the Bank of Japan Haruhiko Kuroda expectations of additional measures easing monetary policy in the near future , some of the supporters of the aggressive actions of the central bank said that need a lot of new measures. For example , a former board member of the Bank of Japan, Nobuyuki Nakahara , said that the Bank of Japan should consider holding several successive rounds of easing , like the U.S. Federal Reserve , if it fails to achieve the inflation target of 2%. Recall that at the moment Nakahara is one of the closest advisers of Prime Minister Shinzo Abe .

EUR / USD: during the European session, the pair rose to $ 1.3864

GBP / USD: during the European session, the pair rose to $ 1.6842 , but then fell to $ 1.6805

USD / JPY: during the European session, the pair rose to Y102.19

At 12:30 GMT will be released in Canada CPI and core CPI from the Bank of Canada in March . At 14:00 GMT the United States will present the Fed manufacturing index for April - Philadelphia . At 23:50 GMT , Japan will release the index of activity in the service sector in February.