The euro has been steady against the dollar trading around $1.0865 early on Monday. Greece received an aid warning on Friday from the Eurozone that it has to agree to a complete economic reform plan before it receives further cash. The British pound is still trading near seven-week highs against the greenback, despite the uncertainty of the coming up UK general election.
The Australian Index ASX (Sydney 200) opened higher on Monday, following Friday’s strong closing on Wall Street and iron ore’s firmer prices. Last week’s 1.5% jump was its best session performance in the past five weeks. RBA Governor Stevens is due to speak tonight at 22:40 GMT at the Australian Financial Review Banking & Wealth Summit in Sydney. Later on this week, the BoJ will release its monetary policy statement; the BoJ bullish forecasts are currently questionable, based on the CPI data expectations.
The US dollar started April’s last week in a defensive stance. Friday’s economic data disappointed, showing that US Business investments spending plans dropped for yet another month, indicating a struggling economy and strengthening expectations for a postponed Fed rate hike. This sent the Dollar Index down to an almost three week low of $96.90, but it has been trading at around $97 in Monday’s early Asian session. The Fed is preparing to begin its two-day FOMC meeting on Tuesday. In corporate news, Earnings Releases from Amazon, Microsoft and Google last week pushed Wall Street and the NASDAQ (USTECH100) higher.