22.03.16

Good morning,

Reserve Bank of Australia's Governor Glenn Stevens spoke in the past few hours following the House Price Index didn't fall be as much as had been expected in the fourth quarter of last year. Mr Stevens said the Australian economy is gaining in resilience and that strengthening lending standards recently implemented were timed well, saying that in the past "tighter standards tended to come too late and reinforced a downturn after it had begun." AUDUSD trading at 0.7607 at time of writing. The Nikkei Manufacturing Purchasing Managers Index for March was out at 49.1, down from 50.1 previously, with the All Industry Index for January missing expectations. USDJPY trading at 112.12 at time of writing.

In Europe this session we will start off by taking a look towards Switzerland and their Trade Balance figures before the IFO figures are out of Germany. France, Germany and the Euro Zone area will all look at Markit Services, Manufacturing and PMI Composites this session. EURCHF trading at 1.0911 The United Kingdom today will publish a large quantity of data including Consumer and Producer Price Index figures, and their Retail Price Index. EURGBP trading at 0.7822 at time of writing.

Across the Atlantic today the Redbook Index and Housing Price Index figures start the session, with the Markit Manufacturing and the Richmond Fed Manufacturing Index to follow. EURUSD trading at 1.1258 at time of writing. USOIL trading above the $40 mark once again with Crude Oil Stocks change figures due out tomorrow, with the API Weekly Crude Oil Stock out this session. USDCAD trading at 1.3058 at time of writing.

I hope you all have a nice day.