It was a decidedly mixed day today in the Asian currency markets with the yen firming late while the Euro began its day long slump early in the morning. The Euro shed almost 50 pips against the dollar, dipping briefly below 1.3400 late in the day on continued uncertainties about the amount of aid that Greece may need to stay afloat. The ECB made early comments stating that the current EU/IMF aid package to Greece may need to be doubled in light of the depth of the problems while the wounded country's bond yields pushed close to 7.60%. European bond redemptions were also cited for the drop in EUR/JPY from 125.35 to 124.65 lows during Asia. GBP/JPY and the other crosses had a mid day dip, but righted their course rater quickly in order to post slight gains on the day. USD/JPY remained near the all too familiar range between 92.95 and 93.25.

The Canadian dollar continued to firm to 22 month highs against the greenback on the back of the newly found hawkish stance from the Bank of Canada. The USD/CAD pair dropped to 0.9960 amidst the speculation that a rate hike is surely in the cards for Canada, possibly by the June BoC meeting. The pair fell yesterday from a 1.0160 perch as the new hawkish stance was digested by the markets. The Aussie dollar was also a winner today, continuing to be fueled by yesterday's hawkish RBA monetary policy meeting minutes. The AUD/USD was able to flirt with the 0.9330 level late in the day while the AUD/JPY was about 60 pips shy of last week's 18 month highs of 87.52.

Besides MPC meeting minutes and claimant count change out of the UK, the data is light with the exception of the Federal Reserve Chairman Bernanke speaking early in the New York day at the unveiling of the new $100 dollar bill by the US Treasury Department.

(London Session) prior expected

4/21/2010

8:30

UK

Bank of England Minutes

21-Apr

 
 

4/21/2010

8:30

UK

Claimant Count Rate

MAR

4.90%

4.90%

4/21/2010

8:30

UK

Jobless Claims Change

MAR

-32.3K

-10.0K

4/21/2010

8:30

UK

Average Weekly Earnings 3M/YoY

FEB

0.90%

2.40%

4/21/2010

8:30

UK

Weekly Earnings exBonus 3M/YoY

FEB

1.40%

1.60%

4/21/2010

8:30

UK

ILO Unemployment Rate (3mths)

FEB

7.80%

7.80%

4/21/2010

10:00

GE

Bruederle Presents German Government's Spring Economic Outlook

21-Apr