U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.9 million barrels from the previous week. At 534.0 million barrels, U.S. crude oil inventories are at the upper limit of the average range for this time of year.

Total motor gasoline inventories decreased by 3.7 million barrels last week, but are in the upper half of the average range. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 2.5 million barrels last week but are in the upper half of the average range for this time of year. Propane/propylene inventories fell 1.5 million barrels last week but are in the middle of the average range. Total commercial petroleum inventories decreased by 3.9 million barre ls last week.

Pending home sales rebounded sharply in February to their highest level in nearly a year and second-highest level in over a decade, according to the National Association of Realtors. All major regions saw a notable hike in contract activity last month.

Lawrence Yun, NAR chief economist, says February's convincing bump in pending sales is proof that demand is rising with spring on the doorstep. "Buyers came back in force last month as a modest, seasonal uptick in listings were enough to fuel an increase in contract signings throughout the country," he said. "The stock market's continued rise and steady hiring in most markets is spurring significant interest in buying, as well as the expectation from some households that delaying their home search may mean paying higher interest rates later this year."

EURUSD: 1.0675 (EUR 402m) 1.0710 (435m) 1.0730 (578m) 1.0750 (404m) 1.0800 (306m) 1.0900 (257m) 1.0960 (204m)

USDJPY: 109.80-90 (USD 395m) 110.00 (240m) 110.80 (635m) 111.00 (456m) 112.00 (656m) 112.20 (360m) 112.40-50 (780m)

GBPUSD: 1.2500 (GBP 185m) 1.2550 (310m)

EURGBP 0.8750 (EUR 205m)

AUDUSD: 0.7470 (AUD 525m) 0.7500 (420m) 0.7550 (195m) 0.7597 (685m) 0.7740-50 (395m)

USDCAD 1.3275 (USD 225m) 1.3300 (351m) 1.3350-60 (275m) 1.3550 (240m)

NZDUSD 0.6950 (NZD 205m)

EURJPY 120.50 (EUR 220m)

• Sees inflation reaching 2 pct goal by 2019

• Good progress toward Fed's goals explains his support for rate hikes

• An inflation rate of 2.5 pct for a time is consistent with goals

• Tax reform unlikely to sustainably boost low productivity growth

• Proposed introduction of bat could raise burden of U.S dollar-denominated debt in ems, precipitate strains on U.S dollar-linked exchange rate regimes

• Proposed introduction of bat could worsen current account balances and gdp growth for major exporters to U.S, reduce FDI inflows

• Would lead to loss in row corporate tax revenues, owing to lower company profits from exports to U.S

• U.S border adjustment tax poses risks to global sovereigns

Broad money, M4 excluding intermediate other financial corporations, increased by £7.3 billion in February with positive flows for all sectors. Together, flows for households and private non-financial corporations (PNFCs) were similar to last month.

Sterling lending to the UK private sector excluding intermediate other financial corporations, M4Lex, increased by £9.6 billion in February. There was positive net lending to all sectors, with lending to households and PNFCs broadly similar to last month.

Lending secured on dwellings rose by £3.5 billion in February, similar to the flows in recent months.

Approvals of loans secured on dwellings fell slightly in February. This was the first decline since August 2016, but at 125,622 they remain above the recent six-month average.

The net flow of consumer credit was £1.4 billion in February. The twelve-month growth rate remained at 10.5%.

Loans to non-financial businesses decreased by £1.8 billion in February, compared to the recent average increase of £0.9 billion. Loans to small and medium-sized enterprises (SMEs) increased by £0.6 billion in February.

EURUSD: 1.0675 (EUR 402m) 1.0710 (435m) 1.0730 (578m) 1.0750 (404m) 1.0800 (306m) 1.0900 (257m) 1.0960 (204m)

USDJPY: 109.80-90 (USD 395m) 110.00 (240m) 110.80 (635m) 111.00 (456m) 112.00 (656m) 112.20 (360m) 112.40-50 (780m)

GBPUSD: 1.2500 (GBP 185m) 1.2550 (310m)

EURGBP 0.8750 (EUR 205m)

AUDUSD: 0.7470 (AUD 525m) 0.7500 (420m) 0.7550 (195m) 0.7597 (685m) 0.7740-50 (395m)

USDCAD 1.3275 (USD 225m) 1.3300 (351m) 1.3350-60 (275m) 1.3550 (240m)

NZDUSD 0.6950 (NZD 205m)

EURJPY 120.50 (EUR 220m)

• I am very confident we will not get a worst-case outcome

• We're confident we'll be able to negotiate a customs arrangement that makes borders as frictionless as possible after Brexit

• We understand we can't cherry-pick in Brexit talks

• Nobody wants to see hard border between Northern Ireland and Irish Republic after Brexit

• We simply do not recognise some of the very large numbers being bandied about in Brussels for what UK will have to pay to EU during Brexit

EUR/USD

Resistance levels (open interest**, contracts)

$1.0943 (734)

$1.0920 (1026)

$1.0902 (118)

Price at time of writing this review: $1.0799

Support levels (open interest**, contracts):

$1.0741 (631)

$1.0696 (517)

$1.0641 (764)

Comments:

- Overall open interest on the CALL options with the expiration date June, 9 is 43051 contracts, with the maximum number of contracts with strike price $1,1450 (3940);

- Overall open interest on the PUT options with the expiration date June, 9 is 47470 contracts, with the maximum number of contracts with strike price $1,0350 (3812);

- The ratio of PUT/CALL was 1.10 versus 1.13 from the previous trading day according to data from March, 28

GBP/USD

Resistance levels (open interest**, contracts)

$1.2711 (873)

$1.2615 (326)

$1.2519 (769)

Price at time of writing this review: $1.2390

Support levels (open interest**, contracts):

$1.2287 (259)

$1.2190 (527)

$1.2092 (583)

Comments:

- Overall open interest on the CALL options with the expiration date June, 9 is 15255 contracts, with the maximum number of contracts with strike price $1,3000 (1206);

- Overall open interest on the PUT options with the expiration date June, 9 is 17475 contracts, with the maximum number of contracts with strike price $1,1500 (3055);

- The ratio of PUT/CALL was 1.15 versus 1.12 from the previous trading day according to data from March, 28

* - 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 UBS consumption indicator climbed to 1.50 points in February from 1.44. Domestic tourism drove the rise still recovering from the consequences of the franc shock in early 2015.

The number of overnight hotel stays was up by 5.5% the same month in the previous year. In January, plenty of snow and the start of the skiing holidays lured many Swiss into the mountains.

The tourist regions of Graubünden (+12.0%) and Valais (+7.5%) recorded strong growth, while the number of overnight stays fell significantly in the Basel region (-22.1%).

Retail sales in Japan were up a seasonally adjusted 0.2 percent on month in February, the Ministry of Economy, Trade and Industry cited by rttnews.

That missed forecasts for 0.3 percent but was unchanged from the January reading following a downward revision from 0.5 percent.

On a yearly basis, retail sales added just 0.1 percent - again shy of expectations for 0.7 percent and down from 1.0 percent in the previous month.

Sales from large retailers sank an annual 2.7 percent versus forecasts for a fall of 1.8 percent after sliding 1.1 percent a month earlier.

As reported by the Federal Statistical Office (Destatis), the index of import prices increased by 7.4% in February 2017 compared with the corresponding month of the preceding year. This was the highest increase of a yearly rate of change since April 2011 (+7.6%). In January 2017 and in December 2016 the annual rates of change were

+6.0% and +3.5%, respectively. From January 2017 to February 2017 the index rose by 0.7%.

The index of import prices, excluding crude oil and mineral oil products, increased by 4.5% compared with the level of a year earlier.

The index of export prices increased by 2.5% in February 2017 compared with the corresponding month of the preceding year. In January 2017 and in December 2016 the annual rates of change were +1.8% and +1.1%, respectively. From January 2017 to February 2017 the export price index rose by 0.2%.

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

EUR/USD $1,0812 -0,47%

GBP/USD $1,2456 -0,81%

USD/CHF Chf0,992 +0,66%

USD/JPY Y111,06 +0,39%

EUR/JPY Y120,09 -0,07%

GBP/JPY Y138,33 -0,42%

AUD/USD $0,7633 +0,26%

NZD/USD $0,7014 -0,40%

USD/CAD C$1,3379 -0,01%

06:00 Switzerland UBS Consumption Indicator February 1.43

06:45 France Consumer confidence March 100 100

08:30 United Kingdom Consumer credit, mln February 1416 1300

08:30 United Kingdom Mortgage Approvals February 69.93 69.9

08:30 United Kingdom Net Lending to Individuals, bln February 4.8 4.9

12:00 United Kingdom Article 50 Brexit Process Starts

13:20 U.S. FOMC Member Charles Evans Speaks

14:00 U.S. Pending Home Sales (MoM) February -2.8% 2.4%

14:30 U.S. Crude Oil Inventories March 4.954

15:30 U.S. FOMC Member Rosengren Speaks

16:15 Eurozone ECB's Peter Praet Speaks

17:15 U.S. FOMC Member Williams Speaks