- Euro zone February unemployment a record 10.8%, up from 10.7% in January and in line with median forecast
- Euro zone March final manufacturing PMI 47.7, in line with flash estimate and as expected
- ECB’s Mersch: Tensions remain on sovereign debt markets
- Japan FinMin Igarashi: BOJ tankan reflects worries about higher oil prices, increase in electricity charges. No need to be pessimistic over Japan’s economic outlook (oh, ok then)
- UK March manufacturing PMI 52.1, up from revised 51.5 in February (prev 51.2), demonstrably stronger than median forecast of 50.7
- Swiss February retail sales +0.8% y/y, down from +4.7% in January
- Swiss March PMI 51.1, stronger than median forecast of 49.5
- Spain’s March new car registration falls -4.5% y/y, down from -2.1% in February
- Rajoy needs all the luck he can get – WSJ
Greenback generally a little weaker in slow trade, US treasury yields have fallen back this morning, benchmark 10 year yield at 2.2232 from the 2.2375 I jotted down first thing.
EUR/USD up at 1.3355 from early 1.3335 having been as high as 1.3380. We reported sell orders clustered 1.3380/00 ahead of 1.3400 barrier option interest and 1.3380 is where we stopped. Talk has some buy stops now gathered through 1.3380 and more through 1.3405.
USD/JPY down at 82.80 from early 83.00, easier treasury yields applying a little pressure. Real money sellers noted.
Cable up at 1.6035 from early 1.5990, having been as high as 1.6o62 at one stage after the release of stronger than expected UK manufacturing PMI (see above)
USD/CHF down marginally at .9015 from early .9025. Recent low is .9002, well-touted barrier option interest at .9000 still just about intact.