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he USD is trading mostly higher except versus the EUR, the EUR trades higher in reaction to report that Greece seeks to activate the EU/IMF aid package and in reaction to stronger than expected German IFO business sentiment, GBP trades lower pressured by report of weaker than expected UK Q1 GDP, CAD trades mixed to lower pressured by report of weaker than expected Canadian inflation, AUD trades lower pressured by dovish comments from RBA Governor Stevens, JPY trades lower in reaction to a CNBC report that a number of Fed board members want to begin selling assets, the Fed’s selling of assets would be the beginning of the withdrawal liquidity
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Focus turns to today’s release of US durable goods and new home sales and Canada’s CPI and retail sales are
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EU February industrial orders rose by 1.5%, April IFO improved to 101.6 from 98.2 last month, Greek/ German 10 year bond yield spread narrowed in reaction to report that Greece seeks to activate the EU/ IMF aid package, EU commission says Greek aid will be as soon as possible, EUR higher • Canada's March CPI rose by 1.4% and core fell by 0.2%,CAD lower
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RBA Governor Stevens says that interest rates are close to average and the future course of rates is an open question, Australia Q1 export prices rose by 3.8% import prices rose by 0.3%,AUD lower
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BOJ Governor Shirakawa says it's inappropriate to use Forex as a tool to narrow trade deficit (a reference to China) and warns against inflation focus, JPY lower
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UK Q1 GDP rose by 0.2% , 0.4% rise was expected, GBP lower
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IMF Chief say there is no easy way to resolve the Greek crisis
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US equity markets set to open higher, European equities 1% higher, Nikkei closed 35 points lower
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