NEWS / Foreign Exchange

European Forex Recap

Market Recap:

• Dow Jones Industrial Average closed Wednesday higher by 19.75 points at 12,530-05
• Australian dollar buying by a UK clearer takes out a reported barrier option at 0.8200 trading to a high of 0.8210 (7.45pm EST)
• FX Rates as of 11.00pm EST:-GBP/USD 1.9752/57  EUR/USD 1.3368/71  USD/JPY 118.55/58  USD/CHF 1.2198/02  USD/CAD 1.1591/96  AUD/USD 0.8184/88  NZD/USD 0.7205/09
• US Monster Employment Index was 185 in March from 177 in February (12.00am EST)

• Japans Nikkei 225 closed Thursdays session down 52.67 points at 17,491-42 (2.00am EST)

• UK Halifax Building Society House prices for March were +1.0% m/m

+11.1% 3m versus 3m a year ago (3.00am EST)

?·        UK Manufacturing Output for February was -0.6% m/m +1.2% y/y from -0.2% m/m +2.0% y/y in January significantly lower than market expectations (4.30am EST)

?·        UK Industrial Production for February was -0.2% m/m +0.3% y/y from +0.4% m/m -0.2% y/y in January (4.30am EST)

?·        Cable on the data releases fell from 1.9750 to 1.9730 (4.30am EST)

?·        German Industrial Production in February was +0.9% m/m better than market expectations of -0.5%. Januarys figure was revised down from 1.9% m/m to 0.9%. Euro-dollar little changed on the news at 1.3360/63 (6.00am EST)

?·        Cable in pre Bank of England announcement news falls from 7.9720 to 1.9700 (6.55am EST)

?·        UK Interest rates.were left unchanged at 5.25% at the monthly meeting of the Bank of England??™s Monetary Policy Committee. Cable on the news dropped further to 1.9675 (7.00am EST)

?·        Canadian Employment change in March was +54,900 from 14,200 the previous month. The unemployment rate was unchanged at 6.1%. Dollar-Canada plummeted from 1.1585 to 1.1520 on the news (7.00am EST)

?·        FX rates as at 7.05am EST:-GBP/USD 1.9702/07  EUR/USD 1.3370/73  USD/JPY 118.80/83  USD/CHF 1.2197/01  USD/CAD 1.1521/26  AUD/USD 0.8179/83  NZD/USD 0.7225/30.

Economic data due out later today

7.00am   Canadian unemployment for March

8.30am   US weekly jobless claims for the week-ending March 31st

10.00am Canadian PMI for March

Session Ranges

GBP / USD:                 1-9675             1-9769

EUR / USD:                 1-3353             1-3375

USD / JPY:                  118-55             118-86

USD / CHF:                 1-2195             1-2212

USD / CAD                 1.1573             1.1594

AUD / USD                 0-8155             0-8195

NZD / USD                 0-7196             0-7240