In earlier news

• Dow Jones Industrial Average closed on Friday up 5.60 at 12,354-35
• Japan releases its quarterly Tanken survey at 23 from 25 the previous quarter.
• Dollar-yen on the release was higher from 117.65 to 118.05.
• Australian Retail sales in February were +0.9% m/m from +0.8% m/m in January. The release was a lot higher than the +0.4% the markets were expecting causing the Aussie to jump from 0.8090 to 0.8130.
• Opening levels:-GBP/USD 1.9675/80  EUR/USD 1.3347/50  USD/JPY 117.88/91  USD/CHF 1.2161/65  USD/CAD 1.1512/17  AUD/USD 0.8122/26  NZD/USD 0.7164/68 (11.00am EST)
• Japans Nikkei 225 closed the Monday session down 259.24 at 17,028-41
• Euro-land PMI manufacturing was at 55.4 in March from 55.6 in February (4.00am EST)
• UK CIPS manufacturing PMI WAS 54.4 IN March from 55.4 in February a touch weaker than market expectations. Cable was slightly lower on the data release at 1.9720 from 1.9730 (4.30am EST)
• Closing levels:-GBP/USD 1.9729/34  EUR/USD 1.3351/54  USD.JPY 117.68/71  USD/CHF 1.2145/49  USD/CAD 1.1561/66  AUD/USD 0.8145/49  NZD/USD 0.7190/94 (6.50am EST)

Economic data due out later today

10.00am US ISM Manufacturing Index for March