• The USD is trading lower versus European currencies and the CAD and firmer versus the AUD and JPY, EUR is trading higher supported by report of an unexpected rise in EU inflation and by gains in cross trade to the JPY, GBP trades higher despite report of weaker UK consumer confidence, CHF is trading higher supported by report of above expectation Swiss KOF index, CAD supported by optimism about Canadian GDP, AUD trades lower in reaction to the report of weaker than expected Australian retail sales, JPY trades lower pressured by liquidation pressures ahead of Japan's fiscal year end
• Focus turns to today's release of US ADP employment, Chicago PMI and factory orders and Canada's GDP
• Japan's March manufacturing PMI dips to 52.4 from 52.5, exports rise to a six-year high, Japan's Postal Bank plans to buy less JGB's, JPY lower
• Australia's February building approvals fall by 3.3%, February home prices rose by 1.4% and February private sector credit rose by 0.4%, February retail sales declined by 1.4%,a 0.2% rise was expected, AUD lower
• UK March GFK consumer confidence at -15 compared to -14 last month, GBP higher
• EU February unemployment rose to 10% from 9.9% last month, March inflation rose to 1.5% compared to 0.9% last month, EUR higher
• Swiss March KOF index improved to 1.93 from 1.90 last month, CHF higher
• US March auto sales are expected to surge to the best levels in three years in repose to generous incentives
• US equity markets set to open lower, European equities 0.002%higher, Nikkei closed 7points lower

Upcoming Events

• US- Wednesday, March ADP employment will be released expected at 40k compared to -20k last month along with March Chicago PMI expected at 61 compared to 62.6 last month and March factory orders expected at 0.9% compared to 0.1% last month
• CAN-Wednesday, January GDP will be released expected at 0.5% compared to 0.6% last month

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