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The Australian dollar will attract investors’ attention this week, as the data from China and domestic employment report likely to give direction to the commodity currency.
China has further opened up its domestic share markets for foreign participation, in a bid to ease the tight controls for investments by qualified foreign institutional investors (QFIIs).
UK economy seems to be on the track to buck the trend in many other European countries where economic recovery continues to struggle.
The unemployment rate in the eurozone increased to its highest level in 14 years in February, as the region’s faltering economic growth left more than 17 million people jobless in the month.
The euro traded higher against the US dollar and the British pound Friday ahead of the eurozone finance ministers’ two-day meeting, where the leaders are likely to boost the rescue funds for the region.
German unemployment rate fell to a record low in March, in contrast to many other nations in the eurozone which suffer from rising unemployment levels, while also showing evidence that growth in the Europe’s largest economy is picking up.
Angelo Gurria, the head of the Organization for Economic Cooperation and Development (OECD), said on Tuesday that eurozone finance ministers should need to boost the firepower of the European stability funds to at least one trillion euros ($1.
The Indian Budget, which will be tabled in the Parliament Friday, is expected to incorporate same features as the previous budget, as the country faces challenging economic conditions and uncertain political scenario.
The Japanese yen (JPY) continues to weaken against the U.S. dollar (USD), as the greenback gets support from improving risk appetite and better economic data coming from the U.S.
The European Central Bank’s (ECB) second massive liquidity injection to stave off a credit crunch in the region will be a headwind to the euro over long-term, although the first similar program from the central bank had helped the single currency rebound from its record lows.
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