The dollar is on track for its biggest weekly fall in nine-months

Good Morning,

- The dollar is on track for its biggest weekly fall in nine-months, but some big names are remain steady on recent bullish USD view. The euro traded at $1.39 level, hovering near a three-week high hit yesterday.

- Nasdaq drops 3 percent, worst day since November 2011. Japanese shares tumbled to six-month lows. Japan's Nikkei -2.38%, Hong Kong's Hang Seng -0.75% (07:27 GMT), Korea's Kospi -0.56%, Australia's ASX 200 -0.99% and China's Shanghai -0.18%.

- Consumer prices in Germany rose by 1.0% in March 2014 compared with March 2013. In February 2014, the inflation rate had stood at +1.2% and in January 2014 at +1.3%. The slowdown in inflation thus continued.

- German wholesale prices decreased by 1.7% in March.

- ECB's Constancio: We will do something because inflation is too low.

- ECB's Praet says readiness to launch QE is what is important now.

- S&P revised Finland’s outlook to negative from stable, Lithuania rating raised to A- from BBB, outlook stable.

- Fitch revises outlook on Portugal to positive, affirms at 'BB+' .

- The dollar index .DXY last stood at 79.39, down about 1.28 percent so far this week. If sustained, this will be its biggest weekly fall in nine months. The index is now back at levels seen before March 19 when Fed Chair Janet Yellen hinted at the possibility of an interest rate hike as soon as early next year.

- Jobless Claims in U.S. decline to lowest level since May 2007 data showed yesterday.

- Goldman Sachs reiterates its recent shift towards a more bullish USD view against the other G10 currencies. "Our exchange rate forecasts have gradually shifted to anticipate US Dollar strength, most recently with the downward revision to our EUR/USD forecast. What is notable about our forecasts is that they foresee US Dollar strength primarily versus the G10 as opposed to emerging markets," GS clarifies. "Our bullish Dollar view is basically a view that US growth will outperform the rest of the G10.

- PBOC’s Zhou: Asset bubbles does not mean financial sector is unhealthy. Asian economies saving creates danger. Inflation more important than jobs in PBOC monetary policy. Will still consider both employment and growth rate when considering monetary policy. Bank credit growth remains steady, but need to watch for risk if high leverage in corporate sector.

- One of the best performers this week, the Aussie traded at $0.9380 level after rallying to five-month highs above 94 U.S. cents on Thursday. The Australian dollar lost some of its shine from the selloff in equities, although it was still on track to show an increase of 1 percent for the week against the greenback, bringing this year's gains to more than 5 percent.

- Tensions over the Ukraine crisis rose again when President Putin on Thursday threatened to cut off natural gas supplies to Ukraine if it did not pay its bills.

- The yen was on track to post its biggest weekly gain against the dollar in four weeks on Friday as a Wall Street share selloff and Asia's diminishing risk appetite boosted the safe-haven yen. Market participants said renewed concerns over Ukraine were also a factor to watch, with the yen standing to gain from its safe-haven status.

Have a nice Day !