Market Briefs USD/JPY in stasis, Nikkei shows some bounce in holiday-affected Tokyo trade Nikkei closes +5 at 40,369.44 at fiscal year-end, up 20%+ in Q1 In the Market - Fed piloting another tricky soft-landing Foreign CB US debt holdings -$8.645 bln to $3.3401 tln Mar 27 week Treasuries -$1.52 bln to $2.937 tln, agencies -$6.246 bln to $323.044 bln New York Fed's reverse repo facility sees usage jump at quarter-end Japan FinMin - Won't rule out any steps to respond to disorderly FX moves Japan brought forward emergency yen meeting to maximise market impact Tokyo inflation slowdown, output slide clouds BOJ's rate hike outlook Tokyo Mar core CPI +2.4% y/y, as eyed, prev +2.5%, overall +2.6% y/y Japan Feb industrial output weak, -0.1% n/n, +1.4% eyed, prev -6.7% Japan Feb retail sales good, +4.6% y/y, +3.0% eyed, prev +2.3% Feb unemployment 2.6%, 2.4% eyed, prev 2.4%, jobs-applicants 1.26, prev 1.27 China will further enhance capital account opening, FX official says China March factory activity likely contracted for 6th month, at slower pace Britain to follow U.S. move to halve stock settlement time ECB/BdF Villeroy - ECB likely to start with 'moderate' rate cut this spring Hedge funds grow in European bond and derivatives trading - IFR Brazil CB Campos Neto - Still no clear view on June meeting Looking Ahead - Economic Data (GMT) 07:45 FR Mar HICP YY 2.8% f'cast, prev 3.0%; MM 0.5% f'cast, prev 0.9% 07:45 FR Feb PPI YY prev -5.1% 07:45 FR Feb Consumer Spending MM 0.2% f'cast, prev -0.3% 10:00 IT Mar HICP YY 1.5% f'cast, prev 0.8%; MM 0.2% f'cast, prev 0.1% 12:30 US Feb Personal Income MM 0.4% f'cast, prev 1.0% 12:30 US Feb PCE MM 0.5% f'cast, prev 0.2% 12:30 US Feb PCE Prices YY 2.5% f'cast, prev 2.4%; MM 0.4% f'cast, prev 0.3% 13:00 US Feb Dallas Fed PCE prev 5.0% Looking Ahead - Events (GMT) All major markets aside from Tokyo closed for Good Friday, US stocks/bonds too 15:15 SF Fed Daly speaks at San Francisco conference 15:30 FOMC Chair Powell speaks at San Francisco conference Currency Summaries JPY USD/JPY in stasis in light, holiday-affected Tokyo trading Range 151.18-50 EBS, some choppiness into fiscal year-end Tokyo fix On hold ahead of 151.23 ascending 200-HMA, Ichi cloud 151.44-50 100 and 55-HMAs ahead of cloud at 151.39 and 151.40 Resistance still pre-massive option barriers at 152.00, stops above Wait on for tonight's US PCE price index EUR EUR/USD heavy, 1.0774-94 EBS, lowest in month, below daily Ichi cloud Below 1.0802-1.0917 daily Ichi cloud, tick lower than 1.0775 low yesterday EUR/JPY heavy too, 163.03-20 EBS, towards 162.77 daily Ichi kijun GBP Cable heavy too, 1.2618-30, also below 1.2634-71 daily Ichi cloud Support in area of 1.2620 hourly kijun, flat 200-DMA down at 1.2589 GBP/JPY doing little, 190.77-191.23, above 190.73 daily Ichi kijun AUD AUD/USD 0.6510-25, also heavy, below 0.6526-0.6657 daily Ichi cloud AUD/JPY seeing inside day, range yesterday 98.16-95, today 98.44-75 MXN/JPY 9.0854-9.1194 in Tokyo, on hold below 9.1668 multi-year high Wednesday For more click on FXBUZ USD/JPY: https://tmsnrt.rs/3JYycWY EUR/USD: https://tmsnrt.rs/37XMNUW AUD/USD: https://tmsnrt.rs/3Ogjs99
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