The euro was last at $1.0870 level

Good Morning,

- The dollar index stood at 97 level on Monday, having hit a three-week low of 96.755 on Friday, as soft U.S. data from last week gives some pressure to the greenback.

- Asian shares hit a fresh 7-yr high as Chinese stocks led regions equities, thanks to expectations of more stimulus from Beijing and earnings from a few U.S. hi-tech giants further support positive mood.

- The euro was last at $1.0870 level, below a three-week high of $1.0900 on Friday, but the common currency remained under pressure by growing uncertainty over the likely outcome of Greece's negotiations with creditors.

- As no deal was reached between Greece and EZ finance ministers in their meeting on Friday, German FM Wolfgang Schaeuble hinted on Saturday that Berlin was preparing for a possible Greek default.

- Greek PM Alexis Tsipras held a call with German Chancellor Angela Merkel and Eurogroup President Jeroen Dijsselbloem to discuss progress in negotiations, a government official in Athens said Sunday. Germany’s Bild newspaper reported that Tsipras asked Merkel to convene an emergency EU leaders’ summit. A Greek government spokesman denied the report in a text message.

- Greece will look for ways to assemble enough cash to pay its pensioners and employees this week, after euro area finance ministers on Friday said they won’t disburse more aid until bailout terms are met. Europe’s most-indebted state will use the deposits of local governments, cities and other funds to meet end-of month payments totaling over 1.5 billion euros ($1.6 billion). By doing so, they risk straining liquidity buffers, after households and companies withdrew almost 1.3 billion euros in savings last week

- The German index of import prices decreased by 1.4% in March 2015 compared with the corresponding month of the preceding year. In February 2015 and in January 2015 the annual rates of change were –3.0% and –4.4%, respectively. From February 2015 to March 2015 the index rose by 1.0%.

- Barclays on EUR/USD: Sell EUR/USD at current levels. Barclays Capital notes that market sentiment towards Greece remains fragile and as such continues to expect the EUR to exhibit a high beta to political developments both on the upside but higher so, on the downside. On the USD front, Barclays notes that it’s a blockbuster week in the US with the FOMC meeting (Wednesday) and key data releases – consumer confidence (Tuesday), advanced estimate of Q1 GDP (Wednesday), Chicago PMI (Thursday), ISM manufacturing (Friday). "We expect the FOMC statement to likely convey that the committee views data in Q1 as an aberration and sees economic growth proceeding at a moderate pace. A more constructive Fed is likely to support the USD as well as weigh on risk appetite, in our view. Our rates strategists maintain the view on front to intermediate curve flatteners,"… "We re-iterate our conviction in being short EURUSD at current levels," Barclays advises.

- The Bank of Japan shouldn’t expand its record monetary stimulus, as such a move would fail to spur growth and make prospects for an eventual exit from the policy harder, the new head of a business lobby said. The yen has slumped enough on the back of the central bank’s asset purchases over the past two years and the currency should stay around 120 per dollar, said Yoshimitsu Kobayashi, who starts Monday as chairman of the Japan Association of Corporate Executives.

- Oil prices held firm as fighting in Yemen still on play. Speculators pulled bearish oil bets at the fastest pace on record as Saudi Arabia renewed strikes on Yemen and U.S. output slowed. Hedge funds reduced their short position in West Texas Intermediate crude by 32 percent in the seven days ended April 21, driving the net-long position to the highest since July, U.S. Commodity Futures Trading Commission data show.

- Watch today: US Services PMI, US Dallas Fed Index.

Have a nice Day !