• Asian session: The euro traded near a one-month low

Market news

31 March 2014

Asian session: The euro traded near a one-month low

00:00 Australia HIA New Home Sales, m/m February +0.5% +4.6%

00:00 New Zealand ANZ Business Confidence March 70.8 67.3

00:30 Australia Private Sector Credit, m/m February +0.4% +0.4% +0.4%

00:30 Australia Private Sector Credit, y/y February +4.1% +4.3%


The euro traded near a one-month low before data today that may show inflation slowed in the currency’s region, boosting bets the European Central Bank will signal stimulus measures at a policy meeting this week. The European Union’s statistics office will probably say in an initial estimate today that consumer prices in the region rose 0.6 percent this month from a year earlier, compared with a 0.7 percent final figure for February, according to economists surveyed by Bloomberg News.

The dollar approached a two-week high versus the yen before Federal Reserve Chair Janet Yellen speaks and ahead of figures tomorrow that may show U.S. manufacturing strengthened this month. Yellen is scheduled to deliver remarks at a conference in Chicago today. The U.S. central bank head said this month borrowing costs could rise “around six months” after officials end the Fed’s monthly bond-buying program, which currently stands at $55 billion. The Federal Open Market Committee next meets on April 29-30.

The Australian dollar headed for its best quarterly performance since 2011 against the greenback, with 27 of 33 economists surveyed by Bloomberg predicting the central bank will refrain from cutting interest rates this year. All expect no change in the cash rate from a record-low 2.5 percent at tomorrow’s meeting.


EUR / USD: during the Asian session, the pair traded in the range of $ 1.3740-60

GBP / USD: during the Asian session the pair fell to $ 1.6625

USD / JPY: on Asian session the pair traded in the range of Y102.80-95


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