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Eurozone M3 Accelerates More Than Generally Expected In March

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March sa M3: +2.3% y/y M3 sa 3-mo avg: +2.0% y/y SA private loans: +2.5% y/y MNI survey median: March sa M3: +2.2% y/y M3 sa 3-mo avg: +1.9% y/y SA private loans: +2.7% y/y MNI survey range: February sa M3: +2.1% to +2.4% y/y M3 sa 3-mo avg: +1.9% to +2.0% y/y SA private loans: +2.7% to +3.3% y/y February ...

France’s Lagarde: Confident Greek govt on track to get debt situation in order

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Italy March adj jobless 8.3%

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Better than Reuters median forecast of 8.5%.    February revised down to 8.2% from previous 8.4%.

Hildebrand: Impact Of Strong Sfr May Be Worse Than Expected

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FRANKFURT (MNI) - The adverse effects of the strong Swiss franc on Switzerland's economy may be more severe than anticipated, and downside risk to growth remain "substantial" even as the recovery continues to exceed expectations, Swiss National Bank Governing Board Chairman Philipp Hildebrand said Friday. ...

SNB’S Hildebrand: Upside risks to price stability beginning to emerge, trend moderate so far

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High commodity prices could hit country if franc weakens fast Despite strength of franc Swiss economy growing stronger than anticipated Still sees weakening of Swiss growth to roughly 2% for year Calls on Parliament to adopt Swiss bank capital rules for UBS, Credit Suisse Doesn't seem overly perturbed by Swissy strength.   The franc is ...

Euro zone March M3 annual growth 2.3%

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Stronger than median forecast of +2.1% 3-month moving average Jan-March 2.0%, up from 1.8% Dec-Feb.

Germany Press: Merkel To Back Draghi For ECB Presidency

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BERLIN (MNI) - German Chancellor Angela Merkel will back Italian central bank governor Mario Draghi as candidate for the succession of European Central Bank President Jean-Claude Trichet, the German daily Bild reported Friday, citing government sources. Germany wants to support ...

Spain’s Q1 unemployment rate 21.3%

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Up from Q4 2010 20.3% and above median forecast of 20.5%. Highest rate in 14 years. Spain April inflation +3.8% y/y vs +3.6% in March. Spain March calendar-adjusted retail sales -8.6% y/y.

FRANCE DATA: March PPI +0.9% m/m, +6.6% y/y; Feb:….

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FRANCE DATA: March PPI +0.9% m/m, +6.6% y/y; Feb: +0.8% m/m, +6.4% y/y --March PPI roughly in line with median MNI survey forecast +1.0% m/m --March manufacturing PPI +1.0% m/m, +6.6% y/y --March oil product prices +7.2% m/m, +36.1% y/y --March food and tobacco prices +0.7% m/m, +5.7% y/y --March industry import prices +1.6% ...

French March producer prices +0.9% m/m

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Stronger than median forecast +0.7%.

Germany’s Retail Sales Hit 11-Month Lows In March

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Real, seasonally adjusted retail sales: March: -2.1% m/m, -3.5% y/y MNI survey median: +0.3% m/m MNI survey range: -0.5% to +1.0% m/m February: -0.4% m/m, +1.5% y/y (revised from -0.3%/+1.1%) -- FRANKFURT (MNI) - Retail sales volumes in Germany fell in March for the second consecutive month, undershooting even the ...

German March retail sales -2.1% m/m, -3.5% y/y

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Demonstrably weaker than median forecasts of +0.3%, +1.4% respectively. Apparently consumers bought fewer groceries and textiles.  Oh-eh....

EUR/USD steady during lacklustre Asian trade

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EUR/USD sits at 1.4828, effectively unchanged from where it closed out Thursday in North America. Decent slew of euro zone economic data due this morning: 06:00 GMT: German retail sales for March expected +0.2% m/m, +1.4% y/y 06:45 GMT: French producer prices for March expected +0.7% m/m, +6.4% y/y 08:00 GMT: Euro zone M3 ...

ForexLive Asian market wrap: Rumours abound but little movement

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Tokyo holiday ensured a quiet session, especially with London also closed today USD/CNY fixed at new record low marginally below 6.5000 HSBC China April PMI steady at 51.8 Australian housing loans slow New Zealand's latest trade surplus comes in better than expected Geithner: US economy recovering Singapore's unemployment rate falls to 1.9% from 2.2% Regional stockmarkets fall ...

London market closed for ‘you know what’

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The unmentionable 'w' later today in London means that UK financial markets will be having the day off. 'You know who' is marrying 'who knows'. That might mean that markets remain very quiet until NY opens.

China’s stocks head for biggest weekly drop since November

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Bloomberg reports

AUD/JPY trade idea

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Remember that AUD/JPY traded at 75.00 last month and is now 20% higher; surely it's possible that we get a move back towards more 'neutral' levels around 84? ASX shares are down whereas Dow Jones is up (thanks Joe) as foreign investment funds book profit on their share trades and take ...

Month end asset manager flows

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Thanks very much to one of our professional-trader readers who has forwarded me some bank research on likely end-of-month fixing flows. Most of the flows will be based on asset manager reallocations and their conclusions are as follows; Neutral EUR/USD and GBP/USD Mildly USD bearish against the AUD, CAD and JPY (Edit: A ...

Singapore unemployment rate 1.9%

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Down from 2.2% in Q4. Now there's a number to make most western nations cry with envy.

Dealers report some cross action in AUD

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Volumes are relatively small but dealers report some moderate selling of the AUD against both the EUR and the GBP over the last hour. I'm really not sure why, but it does seem that big players and small are getting a little nervous about the level of the AUD. I can't ...
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