0.1%
Currency markets are languishing in consolidation mode with European and US markets closed for the week ahead of the Easter holiday.
Talking Points
- US Dollar Treading Water as Liquidity Drains Before Easter Holiday
- UofM Consumer Confidence, US Personal and Spending Data on Tap
Currency markets are treading water in the overnight session, with the US Dollar little-changed against its top counterparts as trading winds down ahead of the Easter holiday. European and US exchanges are already closed for the week in observance of Good Friday, pointing to thin liquidity conditions and generally lackluster price action.
Lack of depth can amplify volatility if a particularly ominous stray headline spooks investors however, and with Eurozone instability fears still fresh in the markets’ consciousness the possibility of such an outcome ought to be kept in mind. February’s US Personal Income and Spending figures and the final revision of the March University of Michigan Consumer Confidence print round out the economic calendar.
Asia Session:
|
GMT |
CCY |
EVENT |
ACT |
EXP |
PREV |
|
23:15 |
Nomura/JMMA Manufacturing PMI (MAR) |
50.4 |
- |
48.5 |
|
|
23:30 |
Jobless Rate (FEB) |
4.3% |
4.2% |
4.2% |
|
|
23:30 |
Job-To-Applicant Ratio (FEB) |
0.85 |
0.86 |
0.85 |
|
|
23:30 |
Household Spending (YoY) (FEB) |
0.8% |
0.1% |
2.4% |
|
|
23:30 |
National CPI (YoY) (FEB) |
-0.7% |
-0.7% |
-0.3% |
|
|
23:30 |
National CPI Ex-Fresh Food (YoY) (FEB) |
-0.3% |
-0.4% |
-0.2% |
|
|
23:30 |
National CPI Ex Food, Energy (YoY) (FEB) |
-0.9% |
-0.9% |
-0.7% |
|
|
23:30 |
Tokyo CPI (YoY) (MAR) |
-1.0% |
-0.9% |
-0.9% |
|
|
23:30 |
Tokyo CPI Ex-Fresh Food (YoY) (MAR) |
-0.5% |
-0.6% |
-0.6% |
|
|
23:30 |
Tokyo CPI Ex Food, Energy (YoY) (MAR) |
-0.8% |
-1.0% |
-1.0% |
|
|
23:50 |
Industrial Production (MoM) (FEB P) |
-0.1% |
2.5% |
0.3% |
|
|
23:50 |
Industrial Production (YoY) (FEB P) |
-11.0% |
-8.5% |
-5.8% |
|
|
1:35 |
CNY |
MNI Business Sentiment Indicator (MAR) |
58.2 |
58.4 |
61.0 |
|
4:00 |
Vehicle Production (YoY) (FEB) |
15.1% |
- |
-9.9% |
|
|
5:00 |
Annualized Housing Starts (FEB) |
0.944M |
0.897M |
0.863M |
|
|
5:00 |
Housing Starts (YoY) (FEB) |
3.0% |
-1.8% |
5.0% |
|
|
5:00 |
Construction Orders (YoY) (FEB) |
16.3% |
- |
-3.7% |
Euro Session:
|
GMT |
CCY |
EVENT |
EXP |
PREV |
IMPACT |
|
7:45 |
French Consumer Spending (MoM) (FEB) |
0.4% |
-0.8% |
Low |
|
|
7:45 |
French Consumer Spending (YoY) (FEB) |
-2.0% |
-0.2% |
Low |
|
|
7:45 |
French Producer Prices (MoM) (FEB) |
0.2% |
0.5% |
Low |
|
|
7:45 |
French Producer Prices (YoY) (FEB) |
1.0% |
1.4% |
Low |
|
|
9:00 |
Italian PPI (MoM) (FEB) |
- |
-0.5% |
Low |
|
|
9:00 |
Italian PPI (YoY) (FEB) |
- |
0.8% |
Low |
|
|
9:00 |
Italian CPI (NIC incl. tobacco) (MoM) (MAR P) |
0.3% |
0.1% |
Low |
|
|
9:00 |
Italian CPI (NIC incl. tobacco) (YoY) (MAR P) |
1.8% |
1.9% |
Low |
|
|
9:00 |
Italian CPI – EU Harmonized (MoM) (MAR P) |
2.3% |
-0.2% |
Low |
|
|
9:00 |
Italian CPI – EU Harmonized (YoY) (MAR P) |
1.8% |
2.0% |
Low |
Critical Levels:
|
CCY |
SUPPORT |
RESISTANCE |
|
1.2766 |
1.2856 |
|
|
1.5137 |
1.5226 |
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
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