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00:30 Australia RBA Financial Stability Review March
06:00 Australia RBA's Governor Glenn Stevens Speech
The euro remained lower against most of its 16 major peers as weaker European business data fueled speculation the region’s economic recovery will falter. Ifo Institute’s German business climate index, based on a survey of 7,000 executives, fell to 110.7 in March after increasing to 111.3 the previous month, the highest level since July 2011. Economists predicted a decline to 110.9, according to a Bloomberg News survey. Germany is Europe’s biggest economy.
The shared currency was near the lowest in three weeks versus the greenback before U.S. reports that analysts predict will show higher durable goods orders and stronger economic growth. In the U.S., durable goods orders probably increased 0.8 percent in February from the previous month, when they dropped 1 percent, according to the median estimate of economists surveyed by Bloomberg News before the Commerce Department releases data today.
Federal Reserve Bank of Atlanta President Dennis Lockhart said yesterday he expects rate increases in the second half of next year. The Atlanta Fed’s Lockhart said yesterday “the second half of 2015 is a reasonable time frame in which we might get to lift off” the benchmark interest rate from a record low. Lockhart, answering questions in a forum in Atlanta, said the U.S. central bank will probably begin to raise the main interest rate more than six months after halting its purchases of bonds.
The Aussie rose for a fourth day after RBA Governor Stevens said there are encouraging early signs of a handover from mining-led demand growth to domestic consumption. He repeated today that borrowing costs, currently at a record-low 2.5 percent, were likely to remain steady for a period.
EUR / USD: during the Asian session the pair fell to $ 1.3810
GBP / USD: during the Asian session, the pair traded in the range of $ 1.6425-40
USD / JPY: on Asian session the pair traded in the range of Y102.25-40
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