UBS - "This week's key points for currencies are:
- several US data releases due but claims still key
- ECB to develop an exchange rate policy?
- G7 doesn't criticise Japan, USDJPY a buy on dips
- BoE Inflation Report key in the week ahead
- Swiss deflation, rising stocks to weaken franc
- buy DNTs as Norges Bank keeps krone rangebound
- expect more RBA easing now, stay bearish AUDNZD"

 Finally, ECB left with no choice and had to slash its rates by 50 basis point. I had already mentioned in my weekly (Monday) outlook note that price stability is the key responsibility…

Societé Generale - "Ive spent the morning pondering the ECB and I've run out of coffee so here is as far as I've got! At the last count, 12 of 39 economists surveyed by Bloomberg expect a 25bp cut. Far more expect 'something'. At least one person on twitter has suggested a 50bp move. Market rates have fallen sharply, peripheral spreads have tightened, credit spreads ditto. The market is bulled-up and hoping for something, then! the risk of disappointment is severe, but (always an 'on the…

Bank of Tokyo-Mitsubishi - "The pound has rebounded modestly over the past week with GBP/USD rising from an intra-day low of 1.4832, and EUR/GBP declining from an intra-day high of 0.8794 both recorded on the 12th March. The pound’s recent rebound follows heavy selling during early 2013 which has resulted in the BoE’s nominal trade-weighted pound index declining by just over 5.0% reaching its lowest level since the middle of 2011.

The pound has found support in the near-term from both a…

Important discourses from the North American central banks are expected to lift market volatility today, where the Canadian dollar is anticipated to gain opposite the US currency. The Bank of Canada is scheduled to release the nation’s Interest Rate Statement today, while US Federal Reserve Chairman Ben Bernanke is due to testify before the Senate Banking Committee in Washington DC.



Taking hints from equity price movements…

• The "1%" are corrupt corps like Bank of America, not individuals - careful being "populist" against people (great article on the crimes of BofA: http://j.mp/IG77ox)
  
   
• Punish success, kill the recovery
  
   
• Punish reinvestment in America, kill the recovery
  
   
• 30% flat tax on 1M is the same as a 600% tax on average incomes. "Fair?
  
   
• Buffet Rule would raise $47B in new taxes - barely covers 1/2…

Direct Link: http://fxbootcamp.com/live-ecb-press-conferences/

Overnight we have seen the Reserve Bank of Australia keep interest rates unchanged at 4.7% comments from the decision where the global economy continues to expand and that the current policy is appropriate. This saw some support for the US dollar early on Aud/$ off 80 points early on.

The UK saw the release of the…