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
JPY
Nomura/JMMA Manufacturing PMI (MAR)
50.4
–
48.5
23:30
JPY
Jobless Rate (FEB)
4.3%
4.2%
4.2%
23:30
JPY
Job-To-Applicant Ratio (FEB)
0.85
0.86
0.85
23:30
JPY
Household Spending (YoY) (FEB)
0.8%
0.1%
2.4%
23:30
JPY
National CPI (YoY) (FEB)
-0.7%
-0.7%
-0.3%
23:30
JPY
National CPI Ex-Fresh Food (YoY) (FEB)
-0.3%
-0.4%
-0.2%
23:30
JPY
National CPI Ex Food, Energy (YoY) (FEB)
-0.9%
-0.9%
-0.7%
23:30
JPY
Tokyo CPI (YoY) (MAR)
-1.0%
-0.9%
-0.9%
23:30
JPY
Tokyo CPI Ex-Fresh Food (YoY) (MAR)
-0.5%
-0.6%
-0.6%
23:30
JPY
Tokyo CPI Ex Food, Energy (YoY) (MAR)
-0.8%
-1.0%
-1.0%
23:50
JPY
Industrial Production (MoM) (FEB P)
-0.1%
2.5%
0.3%
23:50
JPY
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
JPY
Vehicle Production (YoY) (FEB)
15.1%
–
-9.9%
5:00
JPY
Annualized Housing Starts (FEB)
0.944M
0.897M
0.863M
5:00
JPY
Housing Starts (YoY) (FEB)
3.0%
-1.8%
5.0%
5:00
JPY
Construction Orders (YoY) (FEB)
16.3%
–
-3.7%
Euro Session:
GMT
CCY
EVENT
EXP
PREV
IMPACT
7:45
EUR
French Consumer Spending (MoM) (FEB)
0.4%
-0.8%
Low
7:45
EUR
French Consumer Spending (YoY) (FEB)
-2.0%
-0.2%
Low
7:45
EUR
French Producer Prices (MoM) (FEB)
0.2%
0.5%
Low
7:45
EUR
French Producer Prices (YoY) (FEB)
1.0%
1.4%
Low
9:00
EUR
Italian PPI (MoM) (FEB)
–
-0.5%
Low
9:00
EUR
Italian PPI (YoY) (FEB)
–
0.8%
Low
9:00
EUR
Italian CPI (NIC incl. tobacco) (MoM) (MAR P)
0.3%
0.1%
Low
9:00
EUR
Italian CPI (NIC incl. tobacco) (YoY) (MAR P)
1.8%
1.9%
Low
9:00
EUR
Italian CPI – EU Harmonized (MoM) (MAR P)
2.3%
-0.2%
Low
9:00
EUR
Italian CPI – EU Harmonized (YoY) (MAR P)
1.8%
2.0%
Low
Critical Levels:
CCY
SUPPORT
RESISTANCE
EURUSD
1.2766
1.2856
GBPUSD
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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts from FXCM.
Source: Daily fx
