07.03.16

Good morning,

Overnight Bank of Japan's Kuroda spoke on negative interest rates and said that the central bank will scrutinize the impact of negative rate policy on money markets. USDJPY trading at 113.73 at time of writing. Australian data included the ANZ Job Advertisements numbers for February and the AiG Performance of Construction Index for the same month. AUDUSD trading at 0.7406 at time of writing.

German Factory Orders figures were the first figures out of Europe this session, falling by 0.1% month on month till January, less than had been expected. EURUSD trading at 1.0969 Danish and Hungarian Industrial Production figures were also released at the open. Swiss Currency Reserves for February were also released. EURCHF trading at 1.0924 Italian Producer Prices and Norwegian Manufacturing Output figures later this session. Euro Zone Sentix Investor Confidence for March will be out this session.

When Wall Street opens for business this week the Labor Market Conditions Index for February will be the first data release. Consumer Credit Change numbers for January will be out after a coupe of Fed members are scheduled to speak. Lael Brainard and Stanley Fischer have separate speaking arrangements on the calendar today. Wednesday we will look towards the Bank of Canada and their Interest Rate decision. Rates expected to remain unchanged at 0.5% USDCAD trading at 1.3341 CABLE trading at 1.4175 at time of writing.

I hope you all have a good week.