The Traderszone Network

Get the coffee down your necks, it’s time to get the brain cells firing
A tepid start to the morning so far in most pairs. The pound is the only one who’s just woken up and dropped a quick 20 odd pips to the late Thursday lows. No idea what that’s about but EURGBP may be the culprit as it ticks up towards 0.8100 once again.

The Dow Transports index is a leading indicator—and it’s falling while the Dow Jones Industrial Average is rising.
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February 2016 France industrial production data report
– Prior 1.3%
– 0.6% vs 1.7% exp y/y. Prior 2.0%
– Manufacturing production -0.9% vs -0.3% exp m/m. Prior 0.8%
Much worse all round for French industry. a drop in output from refineries and transportation led the falls, says INSEE.

The greenback gained traction after Japan’s finance minister Taro Aso said he may act against what he called “one-sided” yen rises
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March 2016 Japanese economy watchers survey report 8 April 2016
– Outlook 46.7 vs 48.3 exp. Prior 48.2
Consumer serving businesses are still a very pessimistic bunch. Obviously the upbeat consumer confidence isn’t translating over to businesses. Over 50.0 and they turn optimistic.

Highlights from the February 2016 German trade balance data report 8 April 2016
– Prior 13.6bn
– Exports 1.3% vs 0.5% exp m/m SA. Prior -0.5%
– Imports 0.4% vs -0.3% exp m/m SA. Prior 1.2%
There are many calls around Europe for Germany to put their surplus to good use and increase spending so other countries get benefit from the knock on effects. It also breaches EU macroeconomic imbalance procedure rules. Germany says jog on.

European banks face €108bn hole if UK leaves Europe
that European banks would have to cover some €108bn securities if the UK votes to leave Europe. Under Basel rules a UK exit would make some UK securities ineligible to be held as emergency cash reserves.