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00:05 United Kingdom Gfk Consumer Confidence March -7 -6 -5
Australia and New Zealand’s currencies led gains among the Group of 10 major developed currencies amid optimism over the two nations’ economies ahead of central bank meetings next month. The Reserve Bank of Australia will meet on April 1. Interest-rate swaps data compiled by Bloomberg show traders are certain New Zealand’s central bank will lift borrowing costs at its next policy review on April 24.
The Australian dollar headed for a sixth-straight daily advance, while its New Zealand peer jumped to the strongest level in 2 1/2 years after China’s Premier Li Keqiang said he’s confident growth will be in a “reasonable range” and the nation can’t ignore “difficulties and risks” from downward pressure on Asia’s biggest economy. Li said economic development in China, the biggest market for Australian and New Zealand exports, has “great resilience and room,” in remarks from a statement posted on the Chinese government’s website.
The euro traded near a three-week low before data forecast to show inflation in the region slowed. Consumer prices in the euro area probably increased 0.6 percent in March from a year earlier, according to the median estimate of economists in a Bloomberg survey before the European Union’s statistics office releases its initial estimate on March 31. That compares with a final reading for February of a 0.7 percent increase.
Citigroup Inc. said it expects the yen to weaken as the Bank of Japan adds to stimulus by July. In Japan, Citigroup expects additional BOJ easing in June or July to drive the yen down to the 108-110 per dollar level, Tokyo-based strategist Osamu Takashima wrote in a research note dated yesterday.
EUR / USD: during the Asian session, the pair traded in the range of $ 1.3735-50
GBP / USD: during the Asian session, the pair rose to $ 1.6620
USD / JPY: on Asian session the pair traded in the range of Y102.05-25
Focus turns to release of UK Q4 GDP final figures and Current Account data at 0930GMT for direction.
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