30.03.16

Good morning,

Overnight New Zealand Building Permits for February were 10.8% higher than they were in in January. NZDUSD trading at 0.6864 at time of writing. Japanese Industrial Production fell more than had been expected. USDJPY trading at 112.33 at time of writing. The JPY rose against the greenback however on FED Chair Janet Yellen's saying the rate hike had been delayed due to economic uncertainty in the main which contributed to the decision. Foreign Investment figures in Japan will be looked at in the coming Asian session, with Australian New Home Sales figures and the New Zealand ANZ Business Confidence February figures out there as well.

In Europe today the session begins with Swiss figures. The UBS Consumption Indicator for February was out, up slightly on the previous reading, and followed by the KOF Leading Indicator for March. EURCHF trading at 1.0914 at time of writing. Danish Industrial Outlook for March and the Norwegian Labour Force Survey for January round up the early morning figures. Greek Producer Prices and a range of Euro Zone figures willbe released including Consumer Confidence, Services Sentiment and Business Climates for March. The German CPI figures will be out later int he session. EURGBP trading at 0.7838 at time of writing, with the Gfk Consumer Confidence figures out of the UK later in the session.

MBA Mortgage Applications for March will begin the US data releases today with ADP Employment Changes and EIA Crude Oil Stocks Change figures for March the extent of the calendar today. USOIL trading at $39.39 at time of writing. EURUSD trading at 1.1318 at time of writing. FED Chair Janet Yellen spoke of the Oil price decline and the slowdown of the Chinese economy as part of the reasoning behind the delay of Interest Rate hikes, and said that when they come they will only be increased gradually. This led to the USD weakening against most major currencies. USDCAD trading at 1.3022 at time of writing.

I hope you all have a nice day.