Daily Commentary 21/04/2016

It was a quiet day for data releases yesterday but a surprise gain in Existing House Sales out of the US strengthened the USD despite a contraction in Housing Starts and Building Permits the previous day. The EUR traded below 1.1300, while the GBP trades lower at 1.4330, both suffering the strengthening Dollar. Commodity prices rose across the board with the WTI oil rising to the highest level since November last year, trading above $42.50. Despite this positive news for commodities the NZD and AUD both opened lower this morning with the NZD falling below the 0.7000 big figure and the AUD also failing to hold on to 0.7800. Today sees an array of data releases and announcement, with the Philly Fed Survey and ECB rate decision being the headline events.