(time / country / index / period / previous value / forecast)
01:15 U.S. FOMC Member Williams Speaks
01:35 Japan Manufacturing PMI (Preliminary) March 51.6 52.1
01:45 China HSBC Manufacturing PMI (Preliminary) March 50.7 50.5
04:50 Australia RBA Assist Gov Edey Speaks
08:00 France Manufacturing PMI (Preliminary) March 47.6 48.9
08:00 France Services PMI (Preliminary) March 53.4 53.1
08:30 Germany Manufacturing PMI (Preliminary) March 51.1 51.5
08:30 Germany Services PMI (Preliminary) March 54.7 55.0
09:00 Eurozone Manufacturing PMI (Preliminary) March 51.0 51.6
09:00 Eurozone Services PMI (Preliminary) March 53.7 53.9
09:30 United Kingdom Producer Price Index - Input (MoM) February -3.7% +1.6%
09:30 United Kingdom Producer Price Index - Input (YoY) February -14.2%
09:30 United Kingdom Producer Price Index - Output (MoM) February -0.5% -0.1%
09:30 United Kingdom Producer Price Index - Output (YoY) February +0.5%
09:30 United Kingdom Retail Price Index, m/m February -0.8%
09:30 United Kingdom Retail prices, Y/Y February +1.1% +0.9%
09:30 United Kingdom RPI-X, Y/Y February +1.2%
09:30 United Kingdom HICP, m/m February -0.9%
09:30 United Kingdom HICP, Y/Y February +0.3% +0.1%
09:30 United Kingdom HICP ex EFAT, Y/Y February +1.4% +1.3%
12:30 U.S. Housing Price Index, y/y January +5.4%
12:30 U.S. CPI, m/m February -0.7% +0.2%
12:30 U.S. CPI, Y/Y February -0.1% -0.1%
12:30 U.S. CPI excluding food and energy, m/m February +0.2% +0.1%
12:30 U.S. CPI excluding food and energy, Y/Y February +1.6% +1.6%
13:00 U.S. Housing Price Index, m/m January +0.8%
13:45 U.S. Manufacturing PMI (Preliminary) March 55.1 54.9
14:00 Belgium Business Climate March -8.3 -7.5
14:00 U.S. Richmond Fed Manufacturing Index March 0 2
14:00 U.S. New Home Sales February 481 472
20:30 U.S. API Crude Oil Inventories March +10.5
21:45 New Zealand Trade Balance, mln February 56 355
The Federal Reserve Vice-Chairman Stanley Fischer said on Monday that the Fed will raise its interest rate before the end of the year.
"A smooth path upward in the federal funds rate will almost certainly not be realized, because, inevitably, the economy will encounter shocks", Fischer noted.
He pointed that when the Fed starts to hike its interest rate, interest rate could move "up and down" depending on the economy's performance.
Germany's Bundesbank released its monthly report on Monday. The central bank expects a strong growth of German economy in the first quarter of year.
"There are also signs of a continued vigorous upward economic movement in the second quarter," Bundesbank added.
The central bank noted that private consumption and the savings rate climbed in the fourth quarter of 2014.
"The currency union ought to be able to withstand the extreme case of the insolvency of a member state," Bundesbank also said.
Stock indices closed lower after comments by European Central Bank President Mario Draghi. He told the European Parliament in Brussels on Monday that the economic growth in the Eurozone "is gaining momentum" due to in particular falling oil prices, higher external demand, easy financing conditions and a weaker euro.
Draghi noted that the central bank monitors closely any potential risks to financial stability in the Eurozone, and added that "currently these risks are contained".
Eurozone's consumer confidence index rose to -3.7 in March from -6.7 in February. Analysts had expected the index to climb to -6.0.
Germany's Bundesbank released its monthly report on Monday. The central bank expects a strong growth of German economy in the first quarter of year. "There are also signs of a continued vigorous upward economic movement in the second quarter," Bundesbank added.
The Confederation of British Industry (CBI) industrial order books balance dropped to zero in March from +10% in February. Analysts expected the CBI industrial order books balance to decrease to +9%.
The decline was driven by a stronger pound and a weak economy in the Eurozone.
Volume of output for the next three months fell to +22 in March, down from +25 in February.
Indexes on the close:
Name Price Change Change %
FTSE 100 7,037.67 +15.16 +0.22 %
DAX 11,895.84 -143.53 -1.19 %
CAC 40 5,054.52 -32.97 -0.65 %
Oil prices rose modestly today, breaking the level of $ 47 per barrel (WTI) and $ 55 per barrel (Brent), which is associated with the weakening of the US dollar.
The sharp drop in the US dollar came amid uncertainty about US monetary policy after Wednesday the Federal Reserve lowered its estimate of economic growth and inflation, as well as forecasts of interest rate hikes. Recall dollar-denominated oil futures contracts tend to rise in times of a weakening dollar, as oil becomes cheaper for buyers in other currencies.
Pressure on prices had a statement by the Minister of the oil industry in Saudi Arabia, Ali al-Nuaimi. He said that oil production in Saudi Arabia is currently about 10 million barrels of oil per day, and the kingdom sees no need to increase the volume of oil production capacity to 12.5 million barrels a day. Observers are closely monitoring the volume of oil production in Saudi Arabia, as the country is the world's leading oil exporter and the most influential member of OPEC. In November, the Kingdom insisted on retaining the current aggregate limit production cartel to maintain market share, refusing to support prices by reducing the production of oil.
Meanwhile, on Sunday, Al-Nuaimi also said that OPEC's decision to maintain the previous limit production had any mysterious reasons. According to him, OPEC may lose market share in the case of production cuts.
As investors continued to analyze the report Friday from the company Baker Hughes. It was reported that last week in the United States ceased to operate another 56 rigs, their total number dropped to 1069. The number of oil drilling decreased by 41 and totaled 825. displace drilling primarily in Texas - it ceased to operate 36 facilities, 19 of them - in the pool Permian, which produces oil shale. During the year the number of drilling on the two largest US shale basins - Permian and Eagle Ford - has fallen by almost half. The total number of drilling in the country for the year fell by 40%.
Impact on oil prices have also data information company Genscape Inc. Earlier Monday, the company reported that for the week that ended on March 20, at the largest oil reserves in the United States Cushing terminal increased less than in previous weeks. A week earlier at the terminal stocks rose by 2.9 million. Barrels - up to 54.4 million. Barrels.
May futures for US light crude oil WTI (Light Sweet Crude Oil) rose to 46.24 dollars per barrel on the New York Mercantile Exchange.
May futures price for North Sea petroleum mix of Brent rose 37 cents to 55.52 dollars a barrel on the London Stock Exchange ICE Futures Europe.
The U.S. dollar traded lower against the most major currencies after the weaker-than-expected U.S. existing home sales figures. Sales of existing homes rose 1.2% to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January. Analysts had expected an increase to 4.91 million units.
The euro rose against the U.S. dollar after comments by the European Central Bank (ECB) President Mario Draghi. He told the European Parliament in Brussels on Monday that the economic growth in the Eurozone "is gaining momentum" due to in particular falling oil prices, higher external demand, easy financing conditions and a weaker euro.
Draghi noted that the central bank monitors closely any potential risks to financial stability in the Eurozone, and added that "currently these risks are contained".
Eurozone's consumer confidence index rose to -3.7 in March from -6.7 in February. Analysts had expected the index to climb to -6.0.
Germany's Bundesbank released its monthly report on Monday. The central bank expects a strong growth of German economy in the first quarter of year. "There are also signs of a continued vigorous upward economic movement in the second quarter," Bundesbank added.
The British pound traded higher against the U.S. dollar. The CBI industrial order books balance dropped to zero in March from +10% in February.
Analysts expected the CBI industrial order books balance to decrease to +9%.
The decline was driven by a stronger pound and a weak economy in the Eurozone.
Volume of output for the next three months fell to +22 in March, down from +25 in February.
The New Zealand dollar traded higher against the U.S. dollar. In the overnight trading session, the kiwi rose against the greenback in the absence of any major economic reports from New Zealand.
The Australian dollar increased against the U.S. dollar. In the overnight trading session, the Aussie traded higher against the greenback in the absence of any major economic reports from Australia.
The Japanese yen traded higher against the U.S. dollar. In the overnight trading session, the yen traded higher against the greenback in the absence of any major economic reports from Japan.
Gold prices consolidated after a three-day rally, but remain near two-week high, as the weak dollar and the Fed's caution on the timing of a possible rise in US interest rates have a negative impact on demand.
Experts point out, despite the fact that last week the outlook for the beginning of the tightening was revised later date, rate hike in June is still not ruled out, so investors have so far refrained from opening large long positions on gold.
Little support prices has concerns about the future of Greece in the eurozone. German Chancellor Angela Merkel and Greek Prime Minister Alexis Tsipras will hold talks in Berlin today. They will discuss issues related to goszadolzhennostyu Athens and the process of implementation of reforms, as well as the relationship of the new Greek cabinet with creditors.
In focus were also statements of the ECB Draghi, who pointed to the acceleration of economic growth in the eurozone amid falling oil prices, improvements in external demand, easing financial conditions in the current course of monetary policy, as well as the weakening of the euro. According to Draghi, the Central Bank forecasts, which were revised upward, clearly show optimistic regulator. As for inflation, the head of the ECB said that in the coming months, it will remain at low levels or even moved into negative territory. However, by the end of the year growth in consumer prices will begin to accelerate due to the rise in oil prices and the weakening of the euro.
We also learned that in the week ended March 17, hedge funds and money managers again reduced their bullish position on gold and silver futures and options. It is worth emphasizing the decline recorded for the sixth consecutive week.
Meanwhile, the world's largest reserves of the gold-ETF-fund SPDR Gold Trust on Friday fell by 0.72% to 744.4 tons (at least the end of January).
On the physical market, a decline in demand compared to the previous week. Prize for gold in China compared to London was a $ 4- $ 5 per ounce compared to $ 6- $ 7 on Friday.
May futures for gold on the COMEX today rose $ 2 - up to 1187.00 dollars per ounce.
The European Central Bank (ECB) said on Monday that it purchased 26.3 billion euros of bonds in 10 days.
The central bank started its bond-buying programme on March 09. The ECB aims to purchase 60 billion euros of bonds per month until September 2016.
The ECB noted that its covered bond purchase programme totalled almost 60 billion euros as of March 20, while its asset-backed securities (ABS) programme totalled 4.008 billion euros.
The European Central Bank (ECB) President Mario Draghi told the European Parliament in Brussels on Monday that the economic growth in the Eurozone "is gaining momentum" due to in particular falling oil prices, higher external demand, easy financing conditions and a weaker euro.
Draghi noted that the central bank monitors closely any potential risks to financial stability in the Eurozone, and added that "currently these risks are contained".
The ECB president pointed out that consumer inflation in the Eurozone will remain very low or might decline below zero due to falling oil prices. Inflation is expected to rise towards the end of the year, he said.
Draghi pointed out that the pace of bond purchases is "on track", and there are no signs that there will not be enough bonds to purchase.
He also said that Greece and its lenders should continue bailout talks. Draghi believes that talks will be successful.
The National Association of Realtors released existing homes sales figures in the U.S. on Monday. Sales of existing homes rose 1.2% to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January.
Analysts had expected an increase to 4.91 million units.
The NAR chief economist Lawrence Yun said that sales still underperform, but house prices continue to rise.
EUR/USD: $1.0680 (E406M), $1.0780 (E269M), $1.0850 (E1.2BLN)
GBP/USD: $1.4925 (Gbp506M)
EUR/GBP: Gbp0.7180 (E329M), Gbp0.7200 (E200M)
USD/CAD: C$1.2600 ($808M), C$1.2610 ($410M)
AUD/USD: $0.7600 (A$927M), $0.7700 (A$475M), $0.7750 (A$270M)
USD/JPY: Y120.50 ($302M), Y121.00-05 ($280M)
U.S. stock-index futures were little changed.
Global markets:
Nikkei 19,754.36 +194.14 +0.99%
Hang Seng 24,494.51 +119.27 +0.49%
Shanghai Composite 3,687.81 +70.49 +1.95%
FTSE 7,023.75 +1.24 +0.02%
CAC 5,049.01 -38.48 -0.76%
DAX 11,897.64 -141.73 -1.18%
Crude oil $45.97 (-1.29%)
Gold $1181.10 (-0.22%)
(company / ticker / price / change, % / volume)
Yahoo! Inc., NASDAQ | YHOO | 45.08 | +0.10% | 9.4K |
Facebook, Inc. | FB | 83.89 | +0.11% | 200.1K |
Yandex N.V., NASDAQ | YNDX | 14.65 | +0.14% | 5.4K |
Boeing Co | BA | 154.76 | +0.17% | 0.2K |
Freeport-McMoRan Copper & Gold Inc., NYSE | FCX | 18.44 | +0.17% | 8.0K |
Exxon Mobil Corp | XOM | 84.70 | +0.19% | 9.8K |
General Electric Co | GE | 25.45 | +0.20% | 0.1K |
Starbucks Corporation, NASDAQ | SBUX | 97.71 | +0.26% | 2.2K |
Barrick Gold Corporation, NYSE | ABX | 11.13 | +0.27% | 17.2K |
Cisco Systems Inc | CSCO | 28.52 | +0.28% | 3.0K |
UnitedHealth Group Inc | UNH | 119.50 | +0.30% | 0.1K |
Pfizer Inc | PFE | 34.43 | +0.53% | 1.5K |
Visa | V | 67.84 | +0.64% | 6.4K |
Apple Inc. | AAPL | 126.85 | +0.75% | 251.6K |
Procter & Gamble Co | PG | 84.74 | 0.00% | 3.3K |
Hewlett-Packard Co. | HPQ | 33.28 | 0.00% | 0.2K |
American Express Co | AXP | 82.70 | -0.00% | 2.8K |
Chevron Corp | CVX | 107.00 | -0.03% | 4.4K |
Goldman Sachs | GS | 193.05 | -0.04% | 0.7K |
HONEYWELL INTERNATIONAL INC. | HON | 105.36 | -0.04% | 4.6K |
E. I. du Pont de Nemours and Co | DD | 74.30 | -0.05% | 0.4K |
Merck & Co Inc | MRK | 58.55 | -0.05% | 17.4K |
FedEx Corporation, NYSE | FDX | 171.95 | -0.05% | 0.1K |
Tesla Motors, Inc., NASDAQ | TSLA | 197.99 | -0.05% | 65.1K |
Intel Corp | INTC | 31.29 | -0.06% | 1.8K |
AMERICAN INTERNATIONAL GROUP | AIG | 55.90 | -0.07% | 0.1K |
JPMorgan Chase and Co | JPM | 61.70 | -0.08% | 0.7K |
Nike | NKE | 101.88 | -0.10% | 4.4K |
International Business Machines Co... | IBM | 162.68 | -0.12% | 1.6K |
Verizon Communications Inc | VZ | 49.50 | -0.12% | 2.4K |
The Coca-Cola Co | KO | 40.55 | -0.25% | 1.2K |
3M Co | MMM | 166.00 | -0.29% | 0.1K |
Caterpillar Inc | CAT | 80.92 | -0.33% | 1K |
Microsoft Corp | MSFT | 42.73 | -0.35% | 411.1K |
Twitter, Inc., NYSE | TWTR | 48.27 | -0.35% | 8.3K |
Ford Motor Co. | F | 16.42 | -0.36% | 2.7K |
Google Inc. | GOOG | 558.35 | -0.36% | 0.3K |
Walt Disney Co | DIS | 108.02 | -0.38% | 0.8K |
ALTRIA GROUP INC. | MO | 51.22 | -0.39% | 2.1K |
Home Depot Inc | HD | 117.01 | -0.41% | 0.3K |
ALCOA INC. | AA | 12.91 | -0.46% | 5.6K |
Wal-Mart Stores Inc | WMT | 82.25 | -1.19% | 10.2K |
Upgrades:
Downgrades:
Other:
Facebook (FB) target raised from $84 to $92 at Piper Jaffray
Apple (AAPL) target raised from from $115 to $135
Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
11:00 United Kingdom CBI industrial order books balance March 10 9 0
11:00 Germany Bundesbank Monthly Report
The U.S. dollar traded mixed against the most major currencies ahead of the U.S. existing home sales figures. The existing home sales in the U.S. are expected to increase to 4.91 million units in February from 4.82 million units in January.
The euro traded higher against the U.S. dollar ahead of a speech by the European Central Bank President Mario Draghi. Draghi is scheduled to speak at 14:30 GMT.
Germany's Bundesbank released its monthly report on Monday. The central bank expects a strong growth of German economy in the first quarter of year. "There are also signs of a continued vigorous upward economic movement in the second quarter," Bundesbank added.
The British pound traded lower against the U.S. dollar after the weaker-than-expected CBI industrial order books balance data from the U.K. The CBI industrial order books balance dropped to zero in March from +10% in February.
Analysts expected the CBI industrial order books balance to decrease to +9%.
The decline was driven by a stronger pound and a weak economy in the Eurozone.
Volume of output for the next three months fell to +22 in March, down from +25 in February.
EUR/USD: the currency pair rose to $1.0906
GBP/USD: the currency pair decreased to $1.4837
USD/JPY: the currency pair fell to Y119.70
The most important news that are expected (GMT0):
14:00 U.S. Existing Home Sales February 4.82 4.91
14:00 U.S. Existing Home Sales, m/m February -4.9%
14:30 Eurozone ECB President Mario Draghi Speaks
16:20 U.S. FOMC Member Mester Speaks
EUR/USD
Offers 1.0800 1.0820-25 1.0855 1.0880 1.0900 1.0930
Bids 1.0760 1.0730 1.0700 1.0650 1.0625-30 1.0600
GBP/USD
Offers 1.4900 1.4920-25 1.49455-60 1.4970 1.5000 1.5035
Bids 1.4840 1.4825 1.4800 1.4780 1.4760 1.4720-25 1.4700
EUR/JPY
Offers 130.00 130.20 130.40 130.80 131.00
Bids 129.40 129.00 128.80 128.60 128.30 128.00
USD/JPY
Offers 120.20-25 120.50 120.80 121.00 121.30 121.50-55
Bids 119.75-80 119.50-55 119.30 119.00 118.80
EUR/GBP
Offers 0.7285 0.7300 0.7320 0.7335 0.7350
Bids 0.7250 0.7230-35 0.7220-25 0.7200 0.7185 0.7170
AUD/USD
Offers 0.7800 0.7820-25 0.7855-60 0.7885 0.7900
Bids 0.7750 0.7725 0.7700 0.7685 0.7660 0.7625-30 0.7600
The Confederation of British Industry (CBI) released its industrial order books balance on Monday. The CBI industrial order books balance dropped to zero in March from +10% in February.
Analysts expected the CBI industrial order books balance to decrease to +9%.
The decline was driven by a stronger pound and a weak economy in the Eurozone.
The CBI's director for economics Rain Newton-Smith said that "sluggish export performance seems to be a headache that won't go away".
He noted that "measures in the budget to support exporters should be a welcome boost for the sector's longer-term prospects".
Volume of output for the next three months fell to +22 in March, down from +25 in February.
European indices extend early losses on Monday as renewed worries over Greece's future in the Eurozone emerged. Today German Chancellor Angela Merkel will meet Greek Prime Minister Alexis Tsirpas for the second time to discuss the matter of the Greek bailout. AT 14:30 GMT ECB president Mario Draghi will hold a speech at the European Parliament where Greece and its bailout will certainly be discussed.
U.K.'s Industrial Outlook for March declined from a previous reading of 10 to zero. Analyst expected a decline by 1 to 9.
The FTSE 100 index is currently trading -0.10% quoted at 7,015.73 points. Germany's DAX 30 is trading lower at 11,892.51 points -1.12%. France's CAC 40 is currently trading at 5,047.27 points, -0.79%.
Oil is trading lower today after comments from Saudi Arabia's oil minister Ali al-Naimi who reiterated on Sunday that Saudi Arabia and the OPEC, whose members account for 40% of worldwide production, won't cut production as long as non-OPEC-producers do not cooperate. He repeated again that the market determines the price and that Saudi Arabia will keep production unchanged in order to fight for market share. Brent Crude lost -1.14% and dropped below USD55 currently trading at USD54.69 a barrel. On January 13th Crude set a low at USD45.19. West Texas Intermediate lost -1.91% currently quoted at USD45.68. On Friday Baker Hughes reported that the number of active drilling rigs in the U.S. further declined for the 15th consecutive week to the lowest level in 4 years.
Oil prices declined sharply in recent months as worldwide supply exceeds demand in a period of low global economic growth, pushing stockpiles to record highs and weighing on prices.
Gold is trading slightly lower today but still above USD1,800 taking a breather from the recent three-day rally. The somehow dovish FED statement still lends some support to the precious metal and ongoing uncertainty over the Greek bailout and its future in the Eurozone add to bullish investor's sentiment. Now investors look ahead to Tuesday's U.S. inflation data.
Recently a strong U.S. dollar and the prospect for higher U.S. rates weighed on the precious metal - as gold is dollar-denominated and not yield-bearing. Now, after the FED removed the 'patient' wording but gave a more dovish outlook on inflation and growth and the greenback is trading lower, gold finds some support.
Gold is currently quoted at USD1,181.30, -0,07% a troy ounce. On Thursday the 22nd of January gold reached a five-month high at USD1,307.40. On Tuesday last week gold traded as low as USD1,142.50, a three-month low.
BLOOMBERG
Pound Emerging as Election Loser Whichever Party Seizes Victory
(Bloomberg) -- The likely outcome of Britain's general election is finally becoming clear. The outcome, that is, for the pound.
In a bearish sign for the currency, traders are paying more to hedge against sterling losses versus the dollar now than in the weeks before the Scottish independence referendum back in September. Opinion polls ahead of the May 7 vote put the Conservative and Labour parties virtually neck and neck and investors say there are dangers whichever one ends up running the government.
"All paths lead to a degree of sterling weakness," said Daragh Maher, a London-based strategist at HSBC Holdings Plc, which sees the pound falling more than 2 percent to $1.45 by year-end. "Traditionally the pound does better if the Conservatives are expected to win and does worse if Labour are set to win. That doesn't hold so closely this time around."
REUTERS
Fed's Bullard says dollar near fair value but path unclear
The dollar index is not far from fair value but it is unclear how much more the U.S. currency will strengthen against the euro, St Louis Federal Reserve President James Bullard said on Monday.
Speaking on CNBC, Bullard also said an exit of Greece from the euro would be possible but prove very painful for Greece itself.
"I think it's (Grexit) much more manageable than it would have been a couple of years ago and so I do think it could be done but I don't think it's advisable to try to go down that path," he told CNBC in an interview.
Source: http://www.reuters.com/article/2015/03/23/us-fed-bullard-idUSKBN0MJ0O920150323
REUTERS
Oil drops as Saudi says will not cut output alone, weak China import hurts
(Reuters) - Oil prices dropped more than 1.5 percent on Monday as China's imports weakened, while comments from top exporter Saudi Arabia that it would not unilaterally cut its output to defend prices also dragged on the crude market.
China's February crude oil imports from Iran fell 3.7 percent from a year ago to 2.04 million tonnes. China boosted overall imports late last year, taking advantage of cheap oil to build its reserves, but storage tanks could be reaching their limits, forcing a slowdown in orders.
Weak demand from top energy consumer China comes at a time when the OPEC kingpin Saudi Arabia has reiterated its decision to keep production unchanged and ride out a market slump, which has roughly halved prices since last June.
Source:
U.S. stocks rose on Friday on more or less dovish FED comments ealier in the week that drove the greenback lower. The S&P 500 closed +0.90% with a final quote of 2,108.10 points. The energy sector booked the led gains. The DOW JONES index added gains and closed at 18,127.65 points, +0.94%.
Chinese stocks started the week on a strong note. Hong Kong's Hang Seng is trading higher +0.43% at 24,480.06 points. China's Shanghai Composite closed at 3,687.81 points closing +1.95% - up for a eighth consecutive day and setting a new high at 3,688.34 points. Gains were led by technology and property companies.
The Nikkei continued its rally-mode and set a new 15-year high on tracking strong gains on Wall Street. The index closed +0.99% with a final quote of 19,754.36 points - little more than 1% to go for the 20,000 points milestone and the highest closing level since April 2000.
European stocks fail to track gains in Asia and the U.S. and take a breather from the recent rally and open lower on Monday amid renewed concerns over the situation in Greece. Markets were supported on Friday when Greek officials said that they are moving forward on a detailed reform-plan in order to meet the requirements for additional bailout funds. Investors will closely watch ECB president Mario Draghi's speech before the European Parliament where Greece will be in the focus. Today German Chancellor Angela Merkel will meet Greek Prime Minister Alexis Tsirpas for the second time to discuss the matter of the Greek bailout.
The FTSE 100 index is currently trading -0.32% quoted at 7,000.11 points with the mining sector broadly lower. Germany's DAX 30 is trading lower at 11,930.80 points -0.90%. France's CAC 40 is currently trading at 5,061.91 points, -0.51%.
The U.S. dollar is trading mixed against its major peers after ending the week lower against most currencies after the more dovish-than-expected FED statement. Investors will now closely watch Tuesday's data on U.S. inflation as FED Chair Janet Yellen warned, that a strong dollar will could keep inflation below target.
The euro is trading lower against the greenback after currently quoted at USD1.0815 after Friday's gains. The U.S. dollar set its worst weekly performance against the single currency last week amid expectations that U.S. rates will rise slower than expected. Today German Chancellor Angela Merkel will meet Greek Prime Minister Alexis Tsirpas for the second time to discuss the matter of the Greek bailout.
AT 14:30 GMT ECB president Mario Draghi will hold a speech.
Both commodity currencies, the Australian dollar and New Zealand's dollar gained against the greenback during the Asian session in the absence of major data from the region.
The Japanese yen traded slightly higher against the greenback on Monday in a light data day. I a meeting Bank of Japan Governor Haruhiko Kuroda told Prime Minister Shinzo Abe that low oil prices are slowing inflation but that the long term trend of rising consumer prices is still intact as the economic growth is on track and that the economy is recovering.
EUR/USD: the euro traded lower against the greenback
(time / country / index / period / previous value / forecast)
11:00 United Kingdom CBI industrial order books balance March 10 9
11:00 Germany Bundesbank Monthly Report
14:00 U.S. Existing Home Sales February 4.82 4.91
14:00 U.S. Existing Home Sales, m/m February -4.9%
14:30 Eurozone ECB President Mario Draghi Speaks
15:00 Eurozone Consumer Confidence (Preliminary) March -7 -6
16:20 U.S. FOMC Member Mester Speaks
23:00 Australia Conference Board Australia Leading Index January +0.4%
EUR / USD
Resistance levels (open interest**, contracts)
$1.1003 (2312)
$1.0941 (2250)
$1.0879 (1565)
Price at time of writing this review: $1.0793
Support levels (open interest**, contracts):
$1.0732 (1908)
$1.0677 (1398)
$1.0607 (2128)
Comments:
- Overall open interest on the CALL options with the expiration date April, 2 is 64162 contracts, with the maximum number of contracts with strike price $1,0900 (3657);
- Overall open interest on the PUT options with the expiration date April, 2 is 70581 contracts, with the maximum number of contracts with strike price $1,0600 (6557);
- The ratio of PUT/CALL was 1.10 versus 1.07 from the previous trading day according to data from March, 20
GBP/USD
Resistance levels (open interest**, contracts)
$1.5203 (1169)
$1.5106 (1638)
$1.5009 (1313)
Price at time of writing this review: $1.4898
Support levels (open interest**, contracts):
$1.4889 (1060)
$1.4793 (1372)
$1.4696 (1904)
Comments:
- Overall open interest on the CALL options with the expiration date April, 2 is 25658 contracts, with the maximum number of contracts with strike price $1,5100 (1638);
- Overall open interest on the PUT options with the expiration date April, 2 is 28277 contracts, with the maximum number of contracts with strike price $1,5050 (2327);
- The ratio of PUT/CALL was 1.10 versus 1.08 from the previous trading day according to data from March, 20
* - 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.
(raw materials / closing price /% change)
Oil 46.57 +2.28%
Gold 1,185.00 +0.03%
(index / closing price / change items /% change)
S&P/ASX 200 5,975.49 +24.68 +0.41%
TOPIX 1,580.51 +4.70 +0.30%
SHANGHAI COMP 3,617.45 +35.18 +0.98%
HANG SENG 24,375.24 -93.65 -0.38%
FTSE 100 7,022.51 +60.19 +0.86 %
CAC 40 5,087.49 +50.31 +1.00 %
Xetra DAX 12,039.37 +139.97 +1.18 %
S&P 500 2,108.1 +18.83 +0.90 %
NASDAQ Composite 5,026.42 +34.04 +0.68 %
Dow Jones 18,127.65 +168.62 +0.94 %
(pare/closed(GMT +2)/change, %)
EUR/JPY $1,0820 +1,52%
GBP/USD $ 1,4948 +1,30%
USD/CHF Chf0,975 -1,54%
USD/JPY Y120,02 -0,63%
EUR/JPY Y128,89 +0,14%
GBP/JPY Y179,51 +0,73%
AUD/USD $0,7773 +1,62%
NZD/USD $0,7564 +2,01%
USD/CAD C$1,2550 -1,28%
(time / country / index / period / previous value / forecast)
11:00 United Kingdom CBI industrial order books balance March 10 9
11:00 Germany Bundesbank Monthly Report
14:00 U.S. Existing Home Sales February 4.82 4.91
14:00 U.S. Existing Home Sales, m/m February -4.9%
14:30 Eurozone ECB President Mario Draghi Speaks
15:00 Eurozone Consumer Confidence (Preliminary) March -7 -6
16:20 U.S. FOMC Member Mester Speaks
23:00 Australia Conference Board Australia Leading Index January +0.4%