The euro gains on Monday after ECB President Mario Draghi comments

Good Morning,

- The dollar trade stable, but remained well off its recent highs… the dollar index was slightly up, having risen to as high as 97.55.

- Asian shares erased gains after a measure of Chinese factory activity unexpectedly skidded to an 11-month low.

- The euro gains on Monday after ECB President Mario Draghi comments. Said he expected consumer prices to rise gradually by the end of the year even if they might remain very low or go negative in the months ahead.

- Fed Vice Chair Stanley Fischer, said on Monday that the Federal Reserve is "widely expected" to begin raising interest rates this year though the policy path remains uncertain. Fischer said the stronger dollar and weaker oil prices figure in U.S. policymaking, but said the central bank is "trying to look through those phenomena."

- San Francisco Fed’s President John Williams said the high U.S. dollar will be something of a drag on U.S. economic growth this year, but the economy is strong enough to handle it.

- Bank of America on EUR/USD: BofA remains long-term EUR/USD bears, their technical strategy team acknowledges that the near term setup points to a further corrective squeeze higher. "Gains should be limited to 1.0995/1.1098, but could extend as far as 1.1188 before topping and resuming lower," BofA projects. "Below 6d trend line support (now 1.0685) says the downtrend has resumed for 1.0283 and potentially below," BofA adds.

- The rising U.S. dollar has economists everywhere analyzing what the effects to U.S. growth will be, and those at the Federal Reserve are no exception. As the central bank considers raising interest rates for the first time since 2006, "export growth has weakened -- probably the strong dollar is one reason for that,'' Chair Janet Yellen said during a press conference last week following a two-day Fed meeting. Projections released that same day showed officials cut their median estimate for the federal funds rate at the end of 2015 to 0.625 percent, compared with the 1.125 percent they saw in December.

- Greece will present reform package to Eurogroup by next Monday at the latest.

- German Buba on Monday: EZ ought to be able to withstand insolvency of a member-state.

- European banks will offload 100 billion euros ($109 billion) of unwanted loans this year to cut costs and restructure their balance sheets, according to a report by PricewaterhouseCoopers LLP. Banks will jettison bad debts and loans that no longer fit with their business strategies, PwC said.

- The Australian dollar dipped after a survey showed that activity in China's factory sector dipped to a 11-month low in March.

- The China’s flash HSBC/Markit Purchasing Managers' Index (PMI) dipped to 49.2 in March, below the 50-point level. Polled by Reuters had forecast a reading of 50.6, slightly weaker than February's final PMI of 50.7.

- In Japan, also the latest manufacturing survey added to concerns that its slowly recovering economy also may be losing momentum, with activity expanding at a much slower clip as domestic orders contracted.

- Watch today: German Manufacturing PMI, Euro zone PMI, US PMI

Have a nice Day !