The euro trade slightly positive and last was at $1.0760 level

Good Morning,

- The euro trade slightly positive and last was at $1.0760 level, after a choppy trading range between $1.0660 and $1.0780 on previous session. The common currency found some support after euro zone finance ministers moved away from fixing a deadline for Athens to come up with fiscal reforms.

- Asian stock markets were mostly firmer with China shares hit new 7-yr high and Japan's Nikkei touch 15-yr peak.

- ECB’s Coeure: Will continue to fund Greek banks as long as they are solvent with adequate collateral.

- The ECB is tightening the vise on the country’s ailing banks by curtailing access to desperately needed emergency loans. The ECB is now demanding that the value of the collateral that Greek banks post at their own central bank to secure these loans be reduced by as much as 50 percent, according to people who have been briefed on these discussions.

- Greek FM Varoufakis cited signs of convergence on Tuesday between Greece and its lenders help the euro, although the market remained cautious.

- Credit Agricole on EUR/USD: Global risk sentiment improved, largely due to firm expectations of a Greece-related deal being reached by the end of April. According to the government, it is possible that a deal will be reached as soon as end of April since Greek PM Tsipras is said to be meeting with German Chancellor Merkel on Thursday in Brussels ahead of the next Eurogroup meeting. Even if Greece related uncertainty falls further in the short term, we see only limited EUR upside risk from the current levels. On the contrary, given the ECB’s aggressive monetary policy stance we expect rallies above 1.0750-1.0800 to remain a sell.

- Australia’s dollar gained and moved away from parity with New Zealand’s currency after the country’s inflation was slightly stronger than forecast, easing pressure on the central bank to cut interest rates. The Aussie rallied, snapping three-day declines versus the greenback and kiwi dollar, as the consumer-price data reduced the odds of an imminent policy change by the Reserve Bank of Australia.

- The Conference Board Leading Economic Index® (LEI) for China increased 0.2 percent in March, following a 1.4 percent increase in February and a 0.6 percent increase in January.

- Bill Gross has the perfect remedy for investors baffled by record-low yields in the eurozone. According to the bond guru, shorting low-yielding eurozone bonds is a great opportunity for profit, at a time when “not even ‘thin gruel’ is being offered to our modern day Oliver Twist investor.” In fact, Gross went as far as to call the 10-year benchmark German Bund “the short of a lifetime” in a Tweet Tuesday. The only question for the former Pimco chief, is the ideal timing for such a move, given the ECB’s aggressive QE program that has set eurozone yields on a free fall since it was launched in early March.

- Japan’s exports exceeded imports in March for the first time in almost three years, providing support for an economy struggling with weak domestic spending. The trade surplus was 229.3 billion yen, exceeding a median estimate of 44.6 billion yen in a survey by Bloomberg. It was the first surplus since June 2012.

- BOJ expected to keep monetary policy on hold at upcoming meeting, policy decision could still change if BOJ cuts the CPI forecast for this fiscal year more than expected.

- Oil extends losses after Saudi Arabia ended its military campaign in Yemen, easing tensions in the Middle East.

- Watch today: EU consumer confidence, US home sales.

Have a nice Day!