•
Fed speakers see economic weakness as only
temporary
– NY
President Dudley (major dove) & Atlanta Fed President Lockhart both say the
weak Q1 data was probably only temporary, caused by the bad weather like last
year
– Fed funds
rate expectations, US interest rates rebound; USD recovers
– Fed may
push out the time of tightening somewhat, but it’s still headed to tighten
•
CAD steady as oil rallies
– Bank of
Canada business survey, Ivey PMI both weak
– But with
oil prices rebounding, CAD remained stable vs USD
•
RBA hold rates steady
•
Today:
– Eurozone:
Service-sector PMIs for March
– Sweden: industrial
production for Feb expected to decelerate = SEK-negative
– US: Job
Opening and Labor Turnover Survey (JOLTS) forecast to show small increase in
number of job openings = USD-bullish. Watch the “quit rate” too
– Japan:
Bank of Japan Policy Board meeting ends overnight. No change in
tone expected. Market is waiting for the April 30th meeting, when new economic forecasts will be
released
– Speakers:
Minneapolis Fed President Kocherlakota speaks
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