The Euro on hold as 2 days count for ECB

Good Morning,

- The Euro on hold as 2 days count for ECB , Draghi …

- Asian shares: Japan's Nikkei -0.24%, Hong Kong's Hang Seng 1.03% (07:22 GMT), Korea's Kospi 0.32%, Australia's ASX 200 -0.15% and China's Shanghai 0.70%.

- Eurogroup’s Dijsselbloem says they hope for positive outcome from Greek aid talks today. Eurogroup president adding to earlier comments from Greek fin min Stournaras who said they are meeting to discuss timelines. EU Commission’s Rehn says he expects political endorsement of Greek/Troika review says Greek parliament has made important decisions.

- PMI data indicated that the Spanish manufacturing sector maintained growth momentum in March. Rates of expansion in both output and new orders quickened during the month, although employment growth dropped off. The Purchasing Managers’ Index rose to 52.8 in March from 52.5 in February.

- Federal Reserve Chairwoman Janet Yellen said Monday that the recovery still feels like a recession to many Americans, which is why the central bank will keep its "extraordinary" support for the economy for "some time to come." In a speech to a Chicago community reinvestment conference, Yellen also provided evidence why there's still slack in the jobs market, and weighed in on the hot issue of why the participation rate is so low. The speech may come as a bit newsier than the market expected.

- Real GDP in Canada grew 0.5% in January data showed on Monday, rebounding from a 0.5% decline in December. Before that, there were 5 consecutive months of growth. In January, manufacturing activity was the main contributing factor to the growth, while “agriculture and forestry” was the main drag.

- China’s March data signals sharpest fall of output since November 2011. Business conditions in China’s manufacturing sector deteriorated for the third consecutive month in March. The latest deterioration was the strongest since July 2013, and reflected quicker reductions of both output and total new orders, despite new business from abroad expanding for the first time in four months. Firms cut their workforce numbers and purchasing activity, while both input and output prices fell to the greatest extent since August 2012. The HSBC Purchasing Managers’ Index posted at 48.0 in March, down from 48.5 in February, and signaled a moderate deterioration of the health of the sector.

- Japanese wage earners' total cash earnings were unchanged in February from a year earlier and, in a possible sign of thaw in sluggish growth in salaries, winter bonuses rose for the first time in five years. Overtime pay, a barometer of strength in corporate activity, rose 3.4 percent from a year ago in February, up for an 11th straight month although the increase was slower than January's 4.8 percent rise.

- Japan Manufacturing sentiment at highest level since 2007. The Tankan index was at 17 in March, climbing from 16 in December, a quarterly Bank of Japan report showed.

- Australia’s central bank left its benchmark interest rate unchanged at a record low and said the recent climb in the local dollar will reduce the stimulus provided by the currency. Governor Glenn Stevens kept the overnight cash-rate target at 2.5 percent, as forecast by all 33 economists surveyed by Bloomberg. The Aussie fell after the decision as Stevens said “the decline in the exchange rate from its highs a year ago will assist in achieving balanced growth in the economy, but less so than previously as a result of the rise over the past few months. The local dollar had climbed about 4 percent in the past month as economists abandoned bets on further rate reductions.

Have a nice Day !