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Currency Monitor 2012-04-10

April 10, 2012
  • U.S. stocks fall in a belated reaction to payrolls data; S&P holds 1370 support
  • Q1 earnings season will determine whether underweight fund managers buy the dip
  • Lower stocks now cause a weaker Dollar on QE3 speculation, but the hurdle is very high
  • Treasuries show confidence rates will stay lower for longer; Q1 demand the most since 1992
  • Growth concerns are more global, with Europe's recession and the slowdown in China
  • China may report another trade deficit; inflation data restrict the PBOC's ability to ease
  • Portuguese banks borrow a record amount from the ECB as funding stress escalates
  • Risk aversion has the CHF again testing the EUR ceiling, but with little conviction
  • Yen fails to hold gains from the current-account surplus as BOJ may today signal easing