Market news
31.03.2011, 08:25

Asian session: The yen rose

Data:
00:30 Australia Retail Sales s.a. (MoM) (Feb) 0.5% 
05:00 Japan Housing Starts (YoY) (Feb) 10.1% 
05:00 Japan Construction Orders (YoY) (Feb) 19.5% 

The yen rose, snapping a five-day drop versus the dollar, on speculation Japanese exporters took advantage of its slide to a two-week low to buy the currency.
The euro advanced for a third day against the dollar before a German report that may show the nation’s labor market is improving. 
Australia’s dollar touched a record after retail sales grew more than estimated, outweighing an unexpected drop in building approvals. 

EUR/USD: the pair become stronger in around $1.4180.

GBP/USD: the pair become stronger in around $1.6150.

USD/JPY: the pair shown low in the field of Y82.50.

EMU flash HICP data for March at 0900GMT is expected to come in at 2.3% y/y.
US data starts at 1230GMT with the weekly jobless claims as well as the ISM-NY Business Index for March. Initial jobless claims are expected to fall 2,000 to 380,000 in the March 26 week after falling in four of the last five weeks. US data continues at 1345GMT with the the March Chicago Purchasers Index and also the weekly Bloomberg Comfort Index. The Chicago PMI is expected to fall to a reading of 70.0 in March. Other regional data already released have suggested stronger  expansion. At 1400GMT, factory new orders are expected to rise 0.5% in February after being lifted by aircraft orders and energy prices in January. Durable goods orders were already reported down 0.9% in the month, but non-durable goods orders are expected to get a lift from rising energy prices.

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