US equities closed in the negative yesterday. Weekly Jobless claims surprised positively and while initially the USD reacted positively the gains were short lived. USD/JPY is marking 3-week lows as it currently pursues lows of 101.32. For the current week the JPY has already gained +1.44%.
EURUSD continues to defy gravity, closing its 4th consecutive day in gains and rising to 3-week highs rising to 1.39 levels.
German CPI reading this morning was confirmed at 0.3% for the M/M and at 1% for the Y/Y period.
The US Dollar is the largest loser amongst the majors this week, pushed lower after the minutes of the last FOMC meeting released earlier this week.
Overnight data from China showed that CPI Y/Y for March was at 2.4%, despite its brilliant performance this month the Aussie gives in to losses this morning edging slightly lower on the BCWI.
Ahead of us today we are expecting PPI data for the month of March and the Michigan Consumer Sentiment for April – both are expected to register an improvement.