• The USD is trading higher supported by a spike in risk aversion as the SEC widens its probe of Wall Street and global equity markets decline, EUR trades lower pressured by ongoing concern about Greek fiscal crisis as Greek/ German ten-year bond spreads widened to a record 468bps, GBP traded lower pressured by UK election polls which show the Liberal Democrats surging, a surge in support for the Liberal Democrats increases the risk of a hung parliament, commodity currencies are trading lower pressured by the spike in risk aversion and weaker commodity prices as the Goldman investigation boosts the USD and selling of commodities, crude oil prices dropped below $81 a barrel price and gold drops by more than 1%, JPY is trading higher supported by safe haven demand sparked by the Goldman probe and Greek debt worries
• Focus turns to today's release of US leading indicators and Canada's net foreign investment
• The IMF plans to raise its global growth forecast to 4%
• Australia's new 2010/11 budget includes no new spending, Yuan revaluation may slow the pace of RBA rate hikes, AUD lower
• Many European airports remain closed because of the spread of volcanic ash, the airport closures generate concern about the EU economy, EU/IMF meeting on Greece has been delayed, EUR lower
• The Labor Department says that unemployment rates continued to fall in March with nonfarm payrolls increasing in 33 states, and the jobless rate set new highs in California , Florida , Nevada and Georgia
• ECRI growth index fell last week to 12.6 from 14.4 suggesting the pace of the recovery may slow, ECRI officials said the risk of a double dip recession remains out of the question
• US equity markets set to open sharply lower, European equities 1% lower, Nikkei closed 193 points lower

Upcoming Events

• US- Monday, March leading indicators will be released expected at 0.9% compared to 0.1% last month
• CAN-Monday, February net foreign investment will be released expected at 7bln compared to 11.8bln last month

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