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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY INDUSTRIAL OUTPUT, CONSTRUCTION PMI DUE



Industrial production and construction Purchasing Managers' survey results from Germany are due on Thursday, headlining a light day for the European economic news.

At 1.45 am ET, unemployment data is due from Switzerland. The jobless rate is forecast to fall slightly to 2.0 percent in March from 2.1 percent in February.

At 2.00 am ET, Destatis is slated to release Germany's industrial production for February. Economists expect output to gain 0.1 percent on month, slower than the 3.5 percent increase in January.

In the meantime, UK Halifax house price data is due. House prices are expected to fall 0.3 percent on month in March, reversing a 1.1 percent increase in February.

Also, GDP, industrial production and household consumption are due from Statistics Sweden.

At 3.00 am ET, wholesale prices and foreign trade figures are due from Austria. And industrial and construction output and external trade reports are due from the Czech Republic.

At 3.30 am ET, S&P Global publishes Germany's construction Purchasing Managers' survey results.

At 4.30 am ET, UK S&P/CIPS construction PMI data is due. The index is seen falling to 53.5 in March from 54.6 in February.

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NZ DOLLAR ADVANCES AGAINST MOST MAJORS



The New Zealand dollar strengthened against most major currencies in the Asian session on Friday.

The NZ dollar rose to 0.6262 against the U.S. dollar and 82.49 against the yen, from yesterday's closing quotes of 0.6242 and 82.28, respectively.

Against the euro, the kiwi advanced to 1.7435 from yesterday's closing value of 1.7479.

If the kiwi extends its uptrend, it is likely to find resistance around 0.65 against the greenback, 84.00 against the yen and 1.69 against the euro.

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JAPAN HAS Y2.197 TRILLION CURRENT ACCOUNT SURPLUS IN FEBRUARY



Japan posted a current account surplus of 2.197 trillion yen in February, the Ministry of Finance said on Monday.

That was shy of expectations for a surplus of 2.536 trillion yen following the downwardly revised 1.989 trillion shortfall in January (originally -1.977 trillion yen).

Exports rose 4.5 percent on year to 7.644 trillion yen, while imports climbed an annual 8.248 trillion yen for a trade deficit of 604.1 billion yen.

The capital account showed a deficit of 15.8 billion yen, while the financial account showed a surplus of 3.292 trillion yen.

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AUSTRALIAN DOLLAR RISES AGAINST MAJORS



The Australian dollar strengthened against other major currencies in the Asian session on Tuesday.

The Australian dollar rose to a 5-day high of 1.6309 against the euro, from yesterday's closing value of 1.6352.

Against the yen and the NZ dollar, the aussie advanced to 6-day highs of 89.03 and 1.0714 from yesterday's closing quotes of 88.67 and 1.0674, respectively.

The aussie edged up to 0.6674 against the U.S. dollar, from yesterday's closing value of 0.6641.

Moving away from an early near 5-month low of 0.8956 against the Canadian dollar, the aussie climbed to 0.9002.

If the aussie extends its uptrend, it is likely to find resistance around 1.58 against the euro, 91.00 against the yen, 1.08 against the kiwi, 0.68 against the greenback and 0.91 against the loonie.

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JAPAN OVERALL BANK LENDING GAINS 3.0% ON YEAR IN MARCH



The value of overall bank lending in Japan was up 3.0 percent on year in March, the Bank of Japan said on Wednesday - coming in at 600.372 trillion yen.

That beat forecasts for an increase of 1.8 percent and was down from 3.3 percent in February.

Excluding trusts, lending climbed an annual 3.3 percent to 523.282 trillion yen - slowing from 3.6 percent in the previous month.

Lending from trusts rose 1.0 percent on year to 77.089 trillion yen after adding 0.9 percent a month earlier.

For the first quarter of 2023, overall lending rose 3.1 on year, lending minus trusts jumped 3.5 percent and lending from trusts was up 0.9 percent.

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EUROPEAN ECONOMIC NEWS PREVIEW: UK GDP DATA DUE



Monthly GDP from the UK and final inflation from Germany are the top economic news due on Thursday.

At 2.00 am ET, the Office for National Statistics publishes UK monthly GDP data for February. The economy is forecast to grow marginally by 0.1 percent on month, slower than the 0.3 percent expansion registered in January.

At the same time, the UK visible trade deficit is seen narrowing to GBP 17.0 billion from GBP 17.86 billion in January.

In the meantime, Destatis is set to issue Germany's final consumer and harmonized prices for March. Consumer price inflation is forecast to ease to 7.4 percent, in line with flash estimate, from 8.7 percent in February.

At 3.00 am ET, the Czech Statistical Office releases consumer prices for March. Economists forecast inflation to slow to 14.9 percent from 16.7 percent in February. At 4.00 am ET, Italy's Istat publishes industrial output data for February. Production is seen expanding 0.5 percent month-on-month, in contrast to the 0.7 percent decline in January. At 5.00 am ET, Eurozone industrial production data is due. Economists forecast Eurozone industrial output to grow at a faster pace of 1.0 percent in February after rising 0.7 percent in January.

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SINGAPORE GDP SINKS 0.7% IN Q1



Singapore's gross domestic product contracted a seasonally adjusted 0.7 percent on quarter in the first quarter of 2023, the Ministry of Trade and Industry said in Friday's preliminary reading.

That missed expectations for a decline of 0.2 percent following the downwardly revised 0.1 percent increase in the fourth quarter of 2022 (originally 0.3 percent).
On an annualized basis, GDP was up 0.1 percent - again shy of forecasts for a gain of 0.6 percent and down from 2.1 percent in the three months prior.

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U.S. DOLLAR ADVANCES AGAINST MAJORS



The U.S. dollar strengthened against other major currencies in the Asian session on Monday.

The U.S. dollar rose to more than a 1-month high of 134.11 against the yen, a 6-day high of 1.2383 against the pound and a 5-day high of 1.0962 against the euro, from last week's closing quotes of 133.73, 1.2412 and 1.0993, respectively.

Against the Swiss franc and Australian dollar, the greenback advanced to 4-day highs of 0.8959 and 0.6690 from Friday's closing quotes of 0.8935 and 0.6708, respectively.

If the greenback extends its uptrend, it is likely to find resistance around 137.00 against the yen, 1.20 against the pound, 1.07 against the euro, 0.91 against the franc and 0.65 against the aussie

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