Markets ease back in after Easter...

Markets have been fairly quiet as most were closed for the Easter break. However, the US Dollar eased off against most currencies in trading yesterday as data out from the US revealed falling inflation numbers as well as a downward revision to consumer spending.  As Janet Yellen has indicated from the Federal Reserve, inflation remains a key factor in increasing interest rates and the data has been retreating this quarter.  This further dampens expectations of an interest rate hike. Pending home sales data was better than expected from the US.

Over the last week, Federal Reserve members have been speaking in a fairly hawkish tone and Fed Chair Janet Yellen’s speech will be keenly watched today. Redbook data as well as crude and gas inventories are the other sets of data out from the US and from the Eurozone; we have Italian consumer confidence as the lone set of data to provide direction.

Have a good week!