Market Watch: Narrow Ranges Have Prevailed

Financial and commodity markets analytics

The dollar maintains a subdued stance against G10 currencies with European markets closed for the holiday, resulting in narrow trading ranges.
Both Hong Kong and Australian markets are also on holiday, while South Korean and Taiwanese shares show slight mixed movements. US index futures depict a modest improvement ranging between 0.25% to 0.50%.
Gold continues its rally, surging to a new peak near $2265.75 before steadying around $2250. May WTI extends gains, reaching $83.60, its highest level since last October.

Asia Pacific
Japan reports uninspiring results from the Tankan survey. Large manufacturing sentiment slips slightly (11 vs. 12), while non-manufacturing sentiment ticks up (34 vs. 30). The verbal intervention possibly restricts the greenback below JPY 152, maintaining above JPY 151 for the past six sessions.
The Australian dollar gains marginally against the dollar, breaking $0.6500 last Thursday but holding below $0.6540.

Europe
Attention shifts to the eurozone's initial estimate of March inflation and February unemployment figures.
The euro slips briefly below $1.0770 before the weekend, marking a new low for March, and remains within a tight range today (~$1.0785-$1.0800).
Sterling trades quietly within a range of approximately $1.2615-$1.2640.

America
Focus lies on construction spending, expected to rebound from January's weather-induced weakness, and the ISM manufacturing report. The highlight of the week is the release of monthly employment data on Friday, with Canada also reporting March job figures later in the week.

Currently, the US dollar is at CAD1.3515, with nearby support seen near CAD1.3500, coinciding with the 200-day moving average.