April 25th Overnight FX News

[B]Japanese merchandise trade surplus[/B] prints larger than expected figure. For the month of March, surplus mounts to 1.6 trillion yen.

[B]Yen[/B] advances for third day as traders lean towards a rate hike towards year end on focus shift to growth.

[B]Nikkei[/B] drops 216 points to 17,236, closing 1.24 percent lower. Concerns emerge over US consumption rate heading into second half of the year.

[B]German April IFO business confidence survey[/B] released higher than expected, advances to 108.6 from previous 107.7.

[B]UK first quarter GDP[/B] rises 0.7 percent on the quarter on quarter with the yearly coming in as expected at 2.8%.

All eyes are set on [B]US[/B][B] durable goods orders report[/B], set for release in the New York morning.

[B]Gold contracts[/B] spurred higher in the overnight as dollar weakness bolsters buying. Immediate delivery gained $2.20 to $695.85 an ounce.

[B]Crude contracts[/B] rise following shut downs at plants in ConocoPhillips and BP Plc. Contracts for June delivery jumped 45 cents to $65.03 a barrel.