NEWS / Foreign Exchange

European Forex Recap

• Dow Jones Industrial average closed Thursday higher by 68.34 points at 12,552-96

• New Zealand Retail Sales for February came in a lot higher than expected at February at +1.9% m/m +6.4% y/y from +0.5% m/m in January. Kiwi on the news higher from 0.7310 to 0.7355 (6.45pm EST)

• FX rates as of 12.00am EST:- GBP/USD 1.9824/29  EUR/USD 1.3513/16  USD/JPY 118.86/89  USD/CHF 1.2147/51  USD/CAD 1.1342/47  AUD/USD 0.8318/22  NZD/USD 0.7345/49

• Japan??™s Nikkei 225 ended the trading week on Friday lower by 176.47 points at 17,363-95 (2.00am EST)

• French HICP for March was +0.5% m/m +1.2% y/y following +0.2% m/m +1.2% y/y in February (2.45am EST)

• Italian final HICP in March was +1.2% m/m +2.1% y/y (4.00am EST)

• Dollar-yen lower as stops around the 118.50 area are triggered falling to a low of 118.23 (4.45am EST)

• Euro-land Industrial Output in February was +0.6% m/m +4.1% y/y (5.00am EST)

• Dollar-yen edges higher after the earlier sell-off  now trading at 118.40/43 (5.15am EST)

• Euro-dollar moving higher through 1.3540 currently trading 1.3542/45 (6.30am EST)

• FX rates as at 7.00am EST:- GBP/USD 1.9857/62  EUR/USD 1.3539/42  USD/JPY 118.30/33  USD/CHF 1.2085/89  USD/CAD 1.1335/40  AUD/USD 0.8328/32  NZD/USD 0.7367/71

Economic data due out later today

8.30am   US Trade Balance for February

8.30am   US PPI for March

8.30am   Canadian Merchandise Trade for February

10.00am US University of Michigan survey for April

Session Ranges

GBP / USD:                 1-9811             1-9875

EUR / USD:                 1-3502             1-3546

USD / JPY:                  118-22             118-92

USD / CHF:                 1-2076             1-2156

USD / CAD                 1.1330             1.1356

AUD / USD                 0-8311             0-8356

NZD / USD                 0-7336             0-7374