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01:00 China Manufacturing PMI March 50.1 51.6 50.9
01:45 China HSBC Manufacturing PMI (Finally) March 51.7 51.7 51.6
The euro fell versus most of its 16 major counterparts ahead of a report tomorrow that may show unemployment in the bloc climbed to a record in February, two days before European Central Bank officials meet to set interest rates. Unemployment in the euro area probably climbed to an all- time high of 12 percent in February, according to the median estimate in a Bloomberg News survey of economists before the European Union’s statistics office releases the report tomorrow. A final reading of a gauge tracking manufacturing in the 17- nation region also due tomorrow may confirm a 20th month of contraction, a separate poll shows. ECB President Mario Draghi and his fellow policy makers will probably keep the 17-nation region’s benchmark interest rate at a record-low 0.75 percent at a meeting on April 4, according to analysts surveyed by Bloomberg.
The yen strengthened, after last month capping its longest string of losses in 12 years, as a drop in Asian stocks spurred demand for safer assets. In Japan, the Tankan large manufacturers’ index climbed to minus 8 last quarter from minus 12 in the three months ended Dec. 31, a BOJ report showed today. The median forecast in a Bloomberg survey of analysts was for an advance to minus 7.
The Australian dollar slid after a report today showed a gauge tracking manufacturing in China, the South Pacific nation’s biggest trading partner, was at 50.9 last month from 50.1 in February. Economists had forecast a gain to 51.2. A similar measure by HSBC Holdings Plc and Markit Economics climbed to 51.6 in March from 50.4 in the previous period.
EUR / USD: during the Asian session the pair fell to $ 1.2770.
GBP / USD: during the Asian session the pair fell to $ 1.5175.
USD / JPY: during the Asian session the pair fell to Y93.80.
With Europe's long Easter weekend continues markets expected to be subdued ahead of the NY open with release of US PMI and ISM data the key afternoon events. Focus this week will turn toward Thursday's ECB rate decision, no change expected but interest to be on Draghi's press conference, especially after Cyprus events. US employment data Friday, expectations for another strong showing, though Thursday's weekly claims will provide interim interest.
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