Morning Call: Optimism About Global Trade Boosts Stocks

Overnight Markets And News

The dollar index (DXY00 +0.45%) is up +0.42%. EUR/USD (^EURUSD -0.42%) fell back from a 1-1/4 month high in overnight trade and is down -0.35% after Eurozone Mar economic confidence fell to a 6-month low and after Eurozone Feb M3 money supply rose +4.2% y/y, the smallest pace of increase in 3 years. USD/JPY (^USDJPY +0.35%) is up +0.31%.

Jun 10-year T-note prices (ZNM18 -0-015) are little changed, down -0.5 of a tick.

Eurozone Mar economic confidence fell -1.6 to a 6-month low of 112.6, weaker than expectations of -0.8 to 113.3. The Mar climate indicator fell -0.14 to 1.34, weaker than expectations of -0.12 to 1.36.

Eurozone Feb M3 money supply rose +4.2% y/y, weaker than expectations of +4.6% y/y and the smallest pace of increase in 3 years.

The German Feb import price index fell -0.6% m/m, weaker than expectations of -0.3% m/m and the biggest decline in 8 months.

Japan Feb PPI services prices rose +0.6% y/y, weaker than expectations of +0.7% y/y and the slowest pace of increase in 6 months.

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