Good Morning,
- AUD-crosses got hit most after a soft HSBC China PMI, AUDUSD dropped to 1.0377 and EURAUD traded to the highest levels since 29 Dec 12 (1.2741).
- Stocks: Nikkei +0.40 %, Hang Seng +0.19 %, Shanghai Composite +0.02 %, Dow Jones -0.35 %, S+P500 -0.19 %
- European Central Bank President Mario Draghi said the worst of the sovereign debt crisis is over, Germany's Bild newspaper reported, citing an interview. "The worst is over, but there are still risks," Draghi was quoted as saying. "The situation has stabilized. The important indicators for the euro zone, like inflation, current account and above all the budget deficits are better than, for example, in the United States."
- A Chinese manufacturing index indicated a worse contraction this month. The preliminary 48.1 reading in a purchasing managers' index from HSBC Holdings Plc and Markit Economics today is the lowest since November and compares with a final 49.6 in February. A result below 50 indicates a contraction.
- Japan reported an unexpected trade surplus for February and higher-than-forecast exports, adding to evidence of a rebound in the world's third-biggest economy.
| Japan Data Recap |
Period |
Survey |
Actual |
Prior |
| Merchnds Trade Balance JPY |
Feb |
-120.0b |
32.9b |
-1476.9b rev |
| Adj. Merchnds Trade Bal. JPY |
Feb |
-342.5b |
-313.2b |
-494.3b |
| Exports yoy |
Feb |
-6.5 |
-2.7 |
-9.3 |
| Imports yoy |
Feb |
8.2 |
9.2 |
9.9 rev |
- Japan's economy will resume a moderate recovery in the first half of the financial year beginning in April but the outlook remains highly uncertain due to Europe's debt woes and geopolitical risks over Iran, a Bank of Japan policymaker said on Thursday.
| NZ Data Recap |
Period |
Survey |
Actual |
Prior |
| GDP qoq |
Q4 |
0.6 |
0.3 |
0.8 |
| GDP yoy |
Q4 |
2.2 |
1.8 |
1.8 rev |
- Fitch Ratings said that the U.K. budget presented by Chancellor of the Exchequer George Osborne was "neutral" for the country's AAA rating.
- 13.30 US Initial Claims
- 15.00 US House Price Index Jan
- 15.00 US Leading Indicators Feb
- 14.45 Fed Tarullo
- 17.45 Fed Bernanke
- 21.00 Fed Evans
- 09.00 France PMI Manufacturing/Service Mar
- 09.30 Germany PMI Manufacturing/Service Mar
- 10.00 Eurozone PMI Manufacturing/Service/Compoite Mar
- 11.00 Eurozone Industrial New Orders Jan
- 15.00 Eurozone Consumer Confidence Mar
- 20.30 ECB Gonzalez-Paramo
- 10.30 UK Retail Sales Feb
- 08.00 Switzerland Trade Balance FEb
- 18.30 SNB Danthine
- 13.30 Canada Retail Sales Jan
(CET)
Have a nice day!