what does our first week of April have installed for us!

4 months into the year already!! Time really flies when you’re having fun trading!

So April fools day we saw the dollar triumph after stronger-than-expected payroll report. Unfortunately this triumph ended quickly after dovish comments by New York Fed president Dudley who stated that there’s no reason for a pull-back on monetary stimulus.

USDJPY exploded higher as well to 84.73 but dipped lower on profit taking. The question still remains on how Japan will fund the post-earthquake reconstruction.

Euro has been a bit dull to be honest with investors fixated on the upcoming ECB policy meeting. The Euro was fairily indifferent to the sovereign rating actions that occurred on Friday. Fitch downgraded Portugal to BBB- and the S&P cut Ireland’s rating to BBB+.

The Aussie broke through 1.0400 this morning as risk appetite improves. This week we have 2 important data coming out of Australia; RBA rate decision and jobs data.

Monday morning’s can always be incredibly quiet. I guess traders use Asian session to wake-up!!

Data Today

Eurozone PPI – 9am GMT

UK Construction PMI – 8.30am GMT

UK Halifax House Prices – 7am GMT

US Fed’s Bernanke, Lockhart and Evans speech – 1pm GMT

Happy Trading!

FxTaurian