Creativity is intelligence having fun.
The euro turned south to a 4-month low at $1.1836 on eurozone growth fears after Germany extended its lockdown and urged its citizens to stay home over the Easter holiday.
The Pound skidded to a 6-week low at $1.37 as negative COVID news from France and Germany raised fears about continental Europe’s third wave of virus infections washing up on British shores, coupled with Britain's jobless rate unexpected fall to 5.0% in the three months to January.
The Yen was broadly stronger at 108.51 against the dollar as risk-aversion remains prominent amid Beijing has fallen short of the meeting to US purchases target as agreed on in the phase one trade deal. Both Yellen and Powell are also scheduled to testify to the Senate Banking Panel on Wednesday.
The Aussie slide extended to $0.76 after Australian authorities issued fresh flood warnings and evacuation orders on Tuesday as torrential rains again battered several parts of the country.
The Loonie plummeted to its lowest in nearly two weeks at 1.26 against the dollar as the oil price, one of Canada’s major exports, plunged on concerns over new pandemic curbs and slow vaccine rollouts in Europe added to oversupply uneasiness.
The Rand fell to 14.88 versus a stronger greenback on a flight to safety after Treasury Secretary Janet Yellen told lawmakers that future tax hikes would be needed to pay infrastructure projects and other public investment. South African markets open today after a Monday public holiday.
On the local market, the USD/MUR pierced to 40.80 (selling) this morning.
11:00 - GBP - CPI(YoY)
12:30 - EUR - German PMI (Mar)
13:30 - GBP - Composite PMI (Mar)
13:30 - GBP - Manufacturing PMI (Mar)
13:30 - GBP - Services PMI (Mar)
16:30 - USD - Core Durable Goods orders (MoM)(Feb)
18:00 - USD - Fed Chair Powell Testifies
18:30 - USD - Crude Oil Inventories