(pare/closed(GMT +2)/change, %)

EUR/USD $1,0876 -0,41%

GBP/USD $1,2935 -0,02%

USD/CHF Chf1,007 +0,81%

USD/JPY Y113,97 +0,62%

EUR/JPY Y123,96 +0,21%

GBP/JPY Y147,42 +0,60%

AUD/USD $0,7343 -0,54%

NZD/USD $0,6899 -0,12%

USD/CAD C$1,3714 +0,14%

00:30 Australia Westpac Consumer Confidence May 99.0

01:30 China PPI y/y April 7.6% 6.9%

01:30 China CPI y/y April 0.9% 1.1%

05:00 Japan Coincident Index (Preliminary) March 115.3

05:00 Japan Leading Economic Index (Preliminary) March 104.8 105.5

06:45 France Trade Balance, bln March -6.6 -6

06:45 France Industrial Production, m/m March -1.6% 1%

12:00 Eurozone ECB President Mario Draghi Speaks

12:30 U.S. Import Price Index April -0.2% 0.2%

14:30 U.S. Crude Oil Inventories May -0.930

16:00 U.S. FOMC Member Rosengren Speaks

18:00 U.S. Federal budget April -176 -175.8

21:00 New Zealand RBNZ Interest Rate Decision 1.75% 1.75%

21:00 New Zealand RBNZ Rate Statement

22:00 New Zealand RBNZ Press Conference

22:45 New Zealand Food Prices Index, y/y April 1.3%

23:50 Japan Current Account, bln March 2814 2590

• Does not yet know impact of technology on employment

The number of job openings was little changed at 5.7 million on the last business day of March, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were also little changed at 5.3 million and 5.1 million, respectively. Within separations, the quits and the layoffs and discharges

rates were unchanged at 2.1 percent and 1.1 percent, respectively. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

On the last business day of March, there were 5.7 million job openings, little changed from February. The job openings rate was 3.8 percent in March. The number of job openings was little changed for total private and edged up for government. Job openings increased in professional and business services

(+126,000), other services (+55,000), and state and local government education (+27,000). Job openings decreased in educational services (-43,000) and mining and logging (-8,000). The number of job openings was little changed in all four regions.

EURUSD: 1.0800 (EUR 322m) 1.0900-10 (665m) 1.0950 (657m) 1.1000 (326m)

USDJPY: 112.00 (USD 520m) 112.50 (201m) 112.75 (225m) 114.00 (800m)

GBPUSD: 1.2900 (GBP 181m) 1.2920 (182m)

EURGBP: 0.8430-40 (EUR 200m)

USDCAD: 1.3550 (USD 181m) 1.3600 (205m) 1.3875 (USD 1.7bln)

EURJPY: 124.00 ( EUR 194m)

The value of building permits issued by Canadian municipalities fell 5.8% to $7.0 billion in March, marking a second consecutive monthly decrease. Nationally, the decline was mainly the result of lower construction intentions for multi-family dwellings, particularly in British Columbia and Ontario. All provinces and territories, except Ontario and Quebec, registered decreases in the total value of building permits in March.

Municipalities issued $4.6 billion worth of residential building permits in March, down 8.4% from February. A notable decrease in the multi-family component more than offset higher construction intentions for single-family dwellings. Eight provinces reported declines in the residential sector in March, led by British Columbia and Ontario.

The value of building permits for multi-family dwellings dropped 20.9% to $1.9 billion in March, falling below the $2.0 billion mark for the first time since July 2016. The decrease was largely attributable to lower construction intentions for apartment buildings in nine provinces. British Columbia and Ontario registered the biggest declines in the multi-family component in March, stemming from apartment buildings and, to a lesser extent, row houses. Conversely, single-family construction intentions rose 3.0% to $2.7 billion in March, with Ontario and Alberta leading the four provinces that posted gains.

• Rules out cabinet reshuffle, says aim is to speed up government work

EUR/USD

Offers: 1.0935 1.0950 1.0985 1.1000 1.1030 1.1050 1.1080 1.1100

Bids: 1.0900 1.0870 1.0850 1.0820 1 .0800 1.0780 1.0750 1.0700

GBP/USD

Offers: 1.2960 1.2980-85 1.3000 1.3020 1.3050

Bids: 1.2920 1.2900 1.2880 1.2850 1.2830 1.2800

EUR/JPY

Offers: 124.30 124.50 124.80 125.00

Bids: 124.00 123.80 123.50 123.20 123.00 122.80 122.50

EUR/GBP

Offers: 0.8450 0.8465 0.8480-85 0.8500 0.8530 0.8550

Bids: 0.8420 0.8400 0.8385 0.8350 0.8300

USD/JPY

Offers: 113.80 114.00 114.20 114.50 114.70 115.00

Bids: 113.20 113.00 112.80 112.45-50 112.20 112.00

AUD/USD

Offers: 0.7370 0.7400 0.7425 0.7550-55 0.7480 0.7500

Bids: 0.7335 0.7320 0.7300 0.7285 0.7250 0.7200

• Toughens multinational tax anti-avoidance law, introduces new tax measures to hit "black economy"

• New 6 bps levy on big banks' liabilities, effective july 1, to secure a$6.2 bln in savings

• Banks to face bigger fines, stringent punishment for breaching misconduct rules

• Government to introduce foreign worker levy to raise a$1.2 bln over 4 years

• Government to deliver a$75 billion in infrastructure funding over 10 years

• Sees gdp growth at 2.75 pct in 2017/18, 3 pct through 2020/21

• Unemployment rate at 5.75 pct in 2017/18, 5.5 pct in 2018/19, 2019/2020 and 5.25 pct in 2020/21

• 2018/19 budget deficit at a$21.4 bln vs a$19.7 bln deficit seen in december

• In China, impact of earlier policy stimulus on activity proved more powerful than expected, slowdown in housing market has taken longer than expected

• U.S. growth forecast for 2017 has been revised down slightly but this has been offset by a better outlook for China and Japan

• Weaker q1 US growth was explained by consumption and looks to have been affected by temporary factors

• Expects world growth to rise to 2.9% in 2017 from 2.5% in 2016 and has slightly revised up its 2018 forecast to 3.1% from 3.0% in march

In March 2017 the seasonally adjusted retail trade index shows there was no growth when compared with February 2017 (-0.1% for food goods and 0.0% for non-food goods). The underlying trend remains one of growth with the 3 month on 3 month movement increasing by 0.7.

The unadjusted value decreased by 0.4% on the year, as large scale distribution decreased by 1.1% and small scale distribution marks the first positive contribution since November 2016, increasing by 0.1

EURUSD: 1.0800 (EUR 322m) 1.0900-10 (665m) 1.0950 (657m) 1.1000 (326m)

USDJPY: 112.00 (USD 520m) 112.50 (201m) 112.75 (225m) 114.00 (800m)

GBPUSD: 1.2900 (GBP 181m) 1.2920 (182m)

EURGBP: 0.8430-40 (EUR 200m)

USDCAD: 1.3550 (USD 181m) 1.3600 (205m) 1.3875 (USD 1.7bln)

EURJPY: 124.00 ( EUR 194m)

• Major aussie banks continue to position themselves to meet additional capital requirements that are likely to soon be introduced by APRA

• Aussie bank results show profit pressures, rising capital

• Further increases in capital have put them in strong position to cope with tighter requirements likely to be announced later this year

• Major economies cannot ignore currency mismatch because rising U.S. rates could raise dollar funding costs

• Authorities need to closely monitor banks' risk management so they do not take excessive risks in pursuit of profits

• Low interest rate environment , ageing population are significantly weighing on japanese banks' interest margins

EUR/USD

Resistance levels (open interest**, contracts)

$1.1074 (8094)

$1.1024 (3708)

$1.0973 (4096)

Price at time of writing this review: $1.0921

Support levels (open interest**, contracts):

$1.0880 (1784)

$1.0830 (3391)

$1.0762 (4822)

Comments:

- Overall open interest on the CALL options with the expiration date June, 9 is 82316 contracts, with the maximum number of contracts with strike price $1,1100 (8351);

- Overall open interest on the PUT options with the expiration date June, 9 is 86872 contracts, with the maximum number of contracts with strike price $1,0700 (5427);

- The ratio of PUT/CALL was 1.06 versus 1.06 from the previous trading day according to data from May, 8

GBP/USD

Resistance levels (open interest**, contracts)

$1.3203 (1929)

$1.3105 (2315)

$1.3009 (3470)

Price at time of writing this review: $1.2944

Support levels (open interest**, contracts):

$1.2891 (1177)

$1.2795 (1859)

$1.2697 (1676)

Comments:

- Overall open interest on the CALL options with the expiration date June, 9 is 31158 contracts, with the maximum number of contracts with strike price $1,3000 (3470);

- Overall open interest on the PUT options with the expiration date June, 9 is 33758 contracts, with the maximum number of contracts with strike price $1,1500 (3061);

- The ratio of PUT/CALL was 1.08 versus 1.07 from the previous trading day according to data from May, 8

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

• The trend estimate was relatively unchanged (0.0%) in March 2017. This follows a rise of 0.1% in February 2017 and a rise of 0.1% in January 2017.

• The seasonally adjusted estimate fell 0.1% in March 2017. This follows a fall of 0.2% in February 2017 and a rise of 0.5% in January 2017.

• In trend terms, Australian turnover rose 2.5% in March 2017 compared with March 2016.

• The following industries rose in trend terms in March 2017: Food retailing (0.1%) and Other retailing (0.2%). The following industries fell in trend terms in March 2017: Household goods retailing (-0.3%), Clothing, footwear and personal accessory (-0.3%), and Department Stores (-0.1%). Cafes, restaurants and takeaway food services was relatively unchanged (0.0%)

• The following states and territories rose in trend terms in March 2017: New South Wales (0.1%), Victoria (0.1%), South Australia (0.3%), and the Australian Capital Territory (0.1%). Queensland (-0.4%), Western Australia (-0.1%), the Northern Territory (-0.3%), and Tasmania (-0.1%) fell in trend terms in March 2017.

Germany exported goods to the value of 118.2 billion euros and imported goods to the value of 92.9 billion euros in March 2017. These are the highest monthly figures ever reported for both exports and imports. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 10.8% and imports by 14.7% in March 2017 year on year. After calendar and seasonal adjustment, exports were up by 0.4% and imports by 2.4% compared with February 2017.

The foreign trade balance showed a surplus of 25.4 billion euros in March 2017. In March 2016, the surplus amounted to 25.8 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 19.6 billion euros in March 2017.

In March 2017, production in industry was down by 0.4% from the previous month on a price, seasonally and working day adjusted basis according to provisional data of the Federal Statistical Office (Destatis). In February 2017, the corrected figure shows an increase of 1.8% (primary +2.2%) from January 2017.

In March 2017, production in industry excluding energy and construction was down by 0.5%. Within industry, the production of capital goods decreased by 1.2%. The production of consumer goods remained at the same level of the previous month. An increase ofproduction was recorded for intermediate goods (0.1%). Energy production was down by 2.5% in March 2017 and the production in construction increased by 1.5%.