• The USD is trading higher versus Europe as focus returns to Greek fiscal troubles and UK election uncertainty, Greek banks are being hit with a wave of redemptions and Greece is reported to be seeking to renegotiate the terms the EMU aid deal, EUR trades lower in reaction to today's negative news from Greece, GBP trades lower in reaction to the latest UK election polls which suggest the election could result in a hung parliament, positive economic data from the EU and UK was overshadowed by Greek debt worries, AUD trades higher in reaction to report that the RBA hiked rates 25bps to 4.25% and left the door open for future rate hikes, CAD traded higher as crude prices hit a 19 month high, JPY trades higher supported by gains in cross trade to Europe sparked report Greece wants to bypass IMF involvement should the country require aid
• Japan's February leading indicator came in at +1,JPY higher
• Australia's March job ads rose by 1.8%, RBA hikes rates 25bps and says that it's appropriate for rates to rise towards average, AUD higher
• EU April Sentix index at 2.5 compared to -7.5 last month, a reading of -6 was expected, EUR lower
• UK March construction PMI rose to its highest level in two years at 53.1 compared to 48.5 last month, PM Brown calls the UK election for May 6th, UK election polls suggest the election will fail to result in a majority, GBP lower
• Chinese officials defend their currency policy denying that China manipulates the Yuan
• US ten year bond yields test an 18 month high at 4%
• US equity markets set to open lower, European equities 0.5% higher, Nikkei closed 56 points lower

Upcoming Events

• US- Tuesday, no major US economic data is due for release today
• CAN-Tuesday, no major Canadian economic data is due for release today

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