During the early trading session, Asian stocks were mostly higher as market spectators looked ahead to Thursday’s Bank of Japan Press Conference. It is expected that further stimulus measures may be introduced. The Hang Seng Index was up 1.33%, Shanghai Composite closed 3.04% higher and the Nikkei share average was slightly down by 0.18%. At the close of the Asian trading session, it was announced that Fitch downgraded Japan’s credit rating to “A” following a review of the government’s fiscal year’s budget. The budget failed to lay out reforms to delay a sales tax increase, it did not approach the level of public debt, decline in growth and the low interest rates. This announcement caused the Dollar to rally as the Yen weakened, the pair is currently trading above 119.

During the European session, the Euro is trading cautiously against the Dollar as traders weigh up the ongoing situation in Greece. The country is yet to reach an agreement with its creditors for a bailout extension, however, developments have been made as officials handed the responsibility of the reforms to Deputy Foreign Minister Euclid Tsakalotus and limited the role of Finance Minister Yaris Varoufakis. If an agreement is not reached in the coming months, then the nation could go into default and may result in the country’s exit from the Eurozone.

During early U.S. trade, the Dollar Index weakened following the release of negative data. The U.S Services PMI for the month of April showed a reading of 57.8, despite the figure indicating improvement, analysts had expected a higher reading of 59.5. American stocks opened higher ahead of the release of Apple earnings, the electronics company is to release their results for the first quarter after the markets close later today. Furthermore, Microsoft shares rallied nearly 3% as the companies earnings beat expectations. Nasdaq is currently 0.39% higher, S&P up 0.27$ and Dow Industrial up 0.33%.

Currency traders are awaiting a number of important releases taking place tomorrow, including, the UK GDP, speech by BoC Gov Poloz, and the U.S. Consumer Confidence.

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During the early trading session, Asian stocks rallied as expectations over positive earnings reports attracted foreign investors. Profits in financials, automakers and other large cap shares pushed up the share average of a number of Indexes. Furthermore, Japan’s Trade Balance showed a surplus of 229B, significantly higher than the expected figure of 50B and the highest increase in over two years. The Nikkei share average was up 1.13%, closing at 20,133, a new 15 year high. Following the release of Australian data, the AUD rallied against the Dollar.

During the European session, the British pound rallied against the Dollar following the BoE vote hike and the BoE Meeting Minutes. Bank of England officials voted to keep the interest the same with a 0-0-9 majority. Furthermore, board members stated at the Meeting minutes that the Central Bank is working on reaching the 2% inflation target, but admitted in order to do so, and increase in wages and prices would be required.

The price of U.S. Oil dropped yesterday following a halt in airstrikes from Saudi Arabia in Yemen. Tensions in the Middles East eased after the month long military operation against Houthi rebels. The commodity is currently trading below $56/barrell. The U.S. is to release the weekly Crude Oil Inventories later today, a rise in Oil stored by firms could lower the price further.

Currency traders are currently awaiting important economic reports from the U.S. and China including the U.S. Existing Home Sales, Crude Oil Inventories and the Chinese HSBC Manufacturing PMI. Better than expected data, could have a positive effect on that particular currency for the short term.

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During the early trading session, Asian stocks traded higher as investors await earnings reports from major automakers and electronics manufacturers. Forecasts for Toyota predict EPS for the quarter is $2.59, up from the EPS for the same quarter last year, profits are also expected for Nissan Motor Corporation. The Nikkei share average was up 1.4%, closing at 19,909. Following the Reserve Bank of Australia Meeting Minutes, the AUD strengthened against a basket of major currencies. Official board members had voted to keep the current interest rate unchanged and acknowledged that the current monetary policy is supporting the economy.

At the open of the European trading session, the Euro traded lower as Greek concerns continued to weigh on sentiment. Greece is yet to reach an agreement on the current bailout with its creditors, if economic reforms are not laid out, then the country could go into default. Following mixed European data the EUR/USD is trading with high volatility and bullish sentiment. The German ZEW Economic Sentiment came out negative with a reading of 53.3, lower than the expected figure of 55.3, however, the Eurozone ZEW Economic Sentiment showed a higher than expected reading of 64.8. The pair is currently trading above 1.073.

During early U.S. trade, the Dollar rallied against the CAD following negative data from Canada. The Wholesale sales for the month of February showed a sharp decline of 0.4%, analysts had expected a rise of 0.5%.

Traders are awaiting a number of important releases tomorrow, including, the Australian first quarterly CPI figures, the UK BoE MPC Meeting Minutes and the U.S. monthly Existing Home Sales.

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During the early trading session, Asian stocks traded lower as concerns over China’s economy weighed on market sentiment. Chinas Central Bank announced that the required bank reserves will be lowered to 18.5% from 19.5%, hence, adding more currency into circulation. This move came following data showing that China’s economy grew 7% in the past year, the slowest increase since 2008. The Nikkei share average was down 0.09%, closing at 19,634 points. Following the release of negative data from New Zealand, the AUD/USD traded higher. The yearly and quarterly Consumer Price Index figures both showed lower than expected figures.

During the European session, the EUR/USD moved lower and is currently trading above 1.072 following weak European data. The monthly and yearly German Producer Price Index figures came out lower than expected. Furthermore, Concerns over Greece continue as the nation is yet to reach an agreement with its creditors. Greece could go into default and exit the European Union if a list of economic reforms have not been laid out in order to extend its existing bailout accord.

The open of the U.S. trading session is moving with little volatility as few economic reports are to be released today. We may see more movement later today as BoC Governor Stephen Poloz is to speak. As head of the Bank of Canada’s board, traders will listen closely to his remarks for any hints on future monetary policy.

Gold is currently trading at a weekly low as traders sell the usually safe haven asset as they remain cautious over the economic situation in China. China is the second biggest buyer of the yellow metal and news of easing measure introduced by the Central bank spurred demand.

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During the early trading session, Asian stocks were slightly up as energy related company shares soared as investors took profits. Rising oil prices pushed up the price of mining and petroleum stocks. The Nikkei share average was up 0.08%, closing at 19,885 point. Following the release of positive Australian data, the AUD/USD reached 0.778, its highest level in 2 weeks. The Employment Change in Australia showed that the number of people employed rose by 37.7K, significantly higher than the expected 15K.

During the European session, the Euro is currently rebounding from yesterday’s decline as traders speculated the European Central Bank Conference. The pair reached a low of 1.062, but is now testing resistance at a weekly high of 0.074 following Draghis remarks. ECB President, Mario Draghi, took an optimistic stance, stating that the stimulus program is already showing signs of helping the economy, with the release of recent positive economic reports.

The price of oil continued to trade close to 4 month highs following the release of yesterday’s report showing that Crude oil Inventories rose by just 1.294M during the previous week. This data indicated less supply in comparison to the ratio of demand. Furthermore, Gasoline Inventories decline by 2.072M. The commodity is currently trading above $55/barrel.

Traders are now awaiting the release of U.S. data, including, the Building Permits, Housing Starts, Initial Jobless Claims and the Philadelphia Fed Manufacturing Index. Worse than expected figures could weaken the Dollar against a basket of major currencies in the short term.

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