EUR/USD $1.2600, $1.2675, $1.2800, $1.2875, $1.2950

USD/JPY Y92.50, Y94.35, Y94.00, Y94.15, Y94.35, Y94.50

GBP/USD $1.5200

EUR/CHF Chf1.2260

Data

01:30 Japan Labor Cash Earnings, YoY February -0.1% -0.1% -0.7%

03:00 Australia Announcement of the RBA decision on the discount rate April 3.00% 3.00% 3.00%

03:00 Australia RBA Rate Statement April

05:30 Australia RBA Commodity prices, y/y March -6.5% -7.5%

07:30 Switzerland Manufacturing PMI March 50.8 50.5 48.3

07:50 France Manufacturing PMI (Finally) March 43.9 43.9 44.0

07:55 Germany Manufacturing PMI (Finally) March 48.9 48.9 49.0

08:00 Eurozone Manufacturing PMI (Finally) March 46.6 46.6 46.8

08:30 United Kingdom Purchasing Manager Index Manufacturing March 47.9 48.9 48.3

08:30 United Kingdom Net Lending to Individuals, bln February 0.6 0.9 1.5

08:30 United Kingdom Mortgage Approvals February 54.2 53.6 51.6

09:00 Eurozone Unemployment Rate February 12.0% 12.0% 12.0%

12:00 Germany CPI, m/m (Preliminary) March +0.6% +0.4% +0.5%

12:00 Germany CPI, y/y (Preliminary) March +1.5% +1.3% +1.4%

The euro fell against the dollar after the presented statistical office Eurostat data showed that the unemployment rate in the euro area remained unchanged in February, and was in line with economists' forecasts. Note that, given the upward revision in the Jan to the level of 12.0%, the unemployment rate in February remained unchanged. Add that last figure in line with expectations of economists, and was slightly higher than originally reported in January (11.9%). We also recall that in February 2012, the unemployment rate was 10.9%. Among the Member States, the lowest unemployment rates were recorded in Austria (4.8%), Germany (5.4%), Luxembourg and the Netherlands, and the highest rates are seen in Greece (26.4%), Spain (26, 3%), and Portugal. In addition, the report showed that the unemployment rate in the European Union amounted to 10.9% in February, compared to 10.8% in January. A year earlier, the unemployment rate in the EU was 10.2%.

The pound fell for the first time in four days against the dollar after a report showed that the UK recession in the manufacturing sector continued last month, but the rate of decline of activity was less significant than in the previous month. According to the report, the Purchasing Managers' Index for the manufacturing sector rose last month to the level of 48.3, while recovering from a four-month low at 47.9, which was recorded in February. However, despite this improvement, the value of this indicator was less than the average forecast of experts at 48.9. Meanwhile, data showed that production at factories Britain had dropped significantly, demonstrating the biggest decline since October last year, while the rate of decline in the number of new orders slowed slightly compared to the previous month.

The yen fell against the dollar in anticipation of the two-day meeting of the Bank of Japan, which will start from tomorrow. Also on this momentum effect concerns related to the position of Prime Minister Shinzo Abe, who said at the parliament that the Bank of Japan should not "sacrifice everything" to achieve the inflation target of 2%. Experts believe that such statements are a signal that the support of the economy will be less active than previously thought. Recall that in this month the Bank of Japan will hold two meetings. The next meeting of the Board of the Central Bank of voting is scheduled for April 26.

The Australian dollar rose after the Reserve Bank of Australia today kept its benchmark interest rate unchanged at 3 per cent, the lowest level in 50 years. Meanwhile, experts said that given the fact that the costs are recovered, there is room for further rate cuts. Commenting on his decision regarding the conservation rate, head of the bank Glenn Stevens said that there are some signs that a substantial easing of monetary policy in late 2011 and 2012, has expansionist economic impact. He added that the outlook for inflation, according to the present time, you can continue easing, if necessary, to support demand.

EUR / USD: during the European session the pair fell to $ 1.2823

GBP / USD: during the European session the pair fell to $ 1.5160

USD / JPY: during the European session, the pair rose to the level of Y93.35

At 14:00 GMT the United States will report on changes in the volume of production orders for February.

EUR/USD

Offers $1.2930/50, $1.2920, $1.2900/10, $1.2880/90

Bids $1.2800, $1.2780/70, $1.2755/50, $1.2735/25

GBP/USD

Offers $1.5315/20, $1.5300, $1.5280

Bids $1.5155/50, $1.5125/20, $1.5100/90, $1.5070

AUD/USD

Offers $1.0575/80, $1.0550, $1.0520/30, $1.0485/90, $1.0475/80

Bids $1.0410/00, $1.0390/85, $1.0365/60, $1.0355/50

EUR/JPY

Offers Y121.20/30, Y121.00, Y120.50, Y120.00

Bids Y119.45/40, Y119.00, Y118.50, Y118.20, Y118.00

USD/JPY

Offers Y94.00, Y93.75/80, Y93.50

Bids Y92.60/50, Y92.45/40, Y92.00, Y91.50

EUR/GBP

Offers stg0.8555/65, stg0.8510, stg0.8500, stg0.8475/85, stg0.8455

Bids stg0.8410/00, stg0.8395/90, stg0.8365/60

EUR/USD $1.2600, $1.2675, $1.2875

USD/JPY Y92.50, Y94.35, Y94.50

EUR/CHF Chf1.2260

AUD/USD $1.0350, $1.0420

01:30 Japan Labor Cash Earnings, YoY February -0.1% -0.1% -0.7%

03:00 Australia Announcement of the RBA decision on the discount rate April 3.00% 3.00% 3.00%

03:00 Australia RBA Rate Statement April

The dollar weakened past 93 yen for the first time in a month before data this week forecast to show the recovery in the U.S. job market isn’t fast enough to prompt the Federal Reserve to reduce monetary stimulus. Companies in the U.S. probably added 200,000 jobs last month after an increase of 198,000 in February, economists forecast in a Bloomberg News survey before ADP Research Institute releases the data tomorrow. Government figures on April 5 are likely to show that the jobless rate was 7.7 percent in March, unchanged from the prior month, according to another poll.

The yen reached a five-week high against the euro as investors weighed the chances of new stimulus from the Bank of Japan at a two-day meeting starting tomorrow. Japanese Prime Minister Shinzo Abe said today in parliament that the central bank shouldn’t pursue a 2 percent inflation target “at all costs” and may fail to achieve it should global conditions change. BOJ Governor Haruhiko Kuroda said today the central bank will do whatever it can to beat deflation and that it will conduct bold monetary easing. He spoke in parliament before leading his first policy meeting since taking over from Masaaki Shirakawa last month. The BOJ board will convene twice this month, with another meeting scheduled on April 26.

Australia’s dollar extended a gain even after the nation’s Reserve Bank held interest rates unchanged and signaled that existing stimulus is working. Reserve Bank of Australia Governor Glenn Stevens and his board today left the overnight cash-rate target at 3 percent, which was was predicted by all 28 economists surveyed by Bloomberg.

EUR / USD: during the Asian session, the pair rose to $ 1.2880.

GBP / USD: during the Asian session, the pair rose to $ 1.5230.

USD / JPY: during the Asian session the pair fell to Y92.55.

European markets are back from the Easter vacation and a full data calendar awaits, with the eurozone manufacturing PMI numbers set to dominate. Also expected Tuesday are the German flash HICP numbers. Other early releases include France March car registrations and Spain Mar unemployment numbers, both at 0700GMT. The manufacturing PMI numbers start from 0713GMT with the release of the Spanish data, followed by Italian numbers at 0743GMT, the French data at 0748GMT and German numbers at 0753GMT. Overall eurzone numbers are set for release at 0758GMT, with analysts looking for a number of 46.6, unchanged on previous. Eurozone unemployment numbers are expected at 0900GMT. However, release today of UK mfg PMI data at 0828GMT will provide the key domestic data on the day with most expecting a pessimistic reading. UK borrowing data also due at 0830GMT.

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,2843 +0,20%

GBP/USD $1,5226 +0,15%

USD/CHF Chf0,9467 -0,27%

USD/JPY Y93,19 -1,08%

EUR/JPY Y119,68 -0,89%

GBP/JPY Y141,88 -0,90%

AUD/USD $1,0424 +0,07%

NZD/USD $0,8378 +0,12%

01:30 Japan Labor Cash Earnings, YoY February -0.1% -0.1% -0.7%

03:00 Australia Announcement of the RBA decision on the discount rate April 3.00% 3.00% 3.00%

03:00 Australia RBA Rate Statement April

05:30 Australia RBA Commodity prices, y/y March -7.2%

07:00 United Kingdom Halifax house price index March +0.5% +0.2%

07:00 United Kingdom Halifax house price index 3m Y/Y March +1.9% +1.1%

07:30 Switzerland Manufacturing PMI March 50.8 50.5

07:50 France Manufacturing PMI (Finally) March 43.9 43.9

07:55 Germany Manufacturing PMI (Finally) March 48.9 48.9

08:00 Eurozone Manufacturing PMI (Finally) March 46.6 46.6

08:30 United Kingdom Purchasing Manager Index Manufacturing March 47.9 48.9

08:30 United Kingdom Net Lending to Individuals, bln February 0.6 0.9

08:30 United Kingdom Mortgage Approvals February 54.7 53.6

09:00 Eurozone Unemployment Rate February 11.9% 12.0%

12:00 Germany CPI, m/m (Preliminary) March +0.6% +0.4%

12:00 Germany CPI, y/y (Preliminary) March +1.5% +1.3%

14:00 U.S. Factory Orders February -2.0% +3.1%

16:20 Canada Gov Council Member Murray Speaks April

20:30 U.S. API Crude Oil Inventories March +3.7