Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
00:30 Australia National Australia Bank’s Business Confidence February 3 Revised From 2 3
02:00 China Trade Balance, bln February 63.30 50.15 32.59
05:00 Japan Eco Watchers Survey: Current February 46.6 47.5
05:00 Japan Eco Watchers Survey: Outlook February 49.5
05:00 Japan Consumer Confidence February 42.5 42.3 40.1
06:45 Switzerland Unemployment Rate (non s.a.) February 3.8% 3.8% 3.7%
07:00 Germany Industrial Production s.a. (MoM) January -0.3% Revised From -1.2% 0.5% 3.3%
07:45 France Trade Balance, bln January -3.70 Revised From -3.94 -4.1 -3.70
08:15 Switzerland Consumer Price Index (MoM) February -0.4% -0.1% 0.2%
08:15 Switzerland Consumer Price Index (YoY) February -1.3% -1.1% -0.8%
09:15 United Kingdom BOE Gov Mark Carney Speaks
10:00 Eurozone GDP (QoQ) (Revised) Quarter IV 0.3% 0.3% 0.3%
10:00 Eurozone GDP (YoY) (Revised) Quarter IV 1.6% 1.5% 1.6%
The U.S. dollar traded mixed against the most major currencies in the absence of any major economic reports from the U.S.
The euro traded lower against the U.S. dollar after the release of the GDP data from the Eurozone. Eurostat released its revised gross domestic product (GDP) data for the Eurozone on Tuesday. Eurozone’s revised GDP rose 0.3% in fourth quarter, in line with the preliminary reading, after a 0.3% gain in the third quarter.
On a yearly basis, Eurozone’s revised gross domestic product (GDP) increased 1.6% in fourth quarter, up from the preliminary reading of 1.5%, after a 1.6% rise in the third quarter.
Household spending gained 0.2% in the fourth quarter, while gross fixed capital formation climbed 1.3%.
Exports climbed by 0.2% in the fourth quarter, while imports rose by 0.9%.
In 2015 as whole, GDP increased 1.6%, up from the preliminary reading of 1.5%, after a 0.9% growth in 2014.
Destatis released its industrial production data for Germany on Tuesday. German industrial production jumped 3.3% in January, exceeding expectations for a 0.5% gain, after a 0.3% decline in December.
The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K.
Bank of England (BoE) Governor Mark Carney said before Treasury Select Committee on Tuesday that a deal to keep Britain in the EU (European Union) was important for UK’s monetary and financial stability.
The Canadian dollar traded mixed against the U.S. dollar ahead of the Canadian housing market data. The Canadian building permits are expected to fall 2.0% in January, after a 11.3% rise in December.
Housing starts in Canada are expected to rise to 180,000 in February from 165,900 in December.
The Swiss franc traded lower against the U.S. dollar. The Swiss Federal Statistics Office released its consumer inflation data on Tuesday. Switzerland’s consumer price index rose 0.2% in February, beating expectations for a 0.1% decline, after a 0.4% decrease in January.
The increase was mainly driven by higher prices for clothing, rents and airfares.
On a yearly basis, Switzerland’s consumer price index increased to -0.8% in February from -1.3% in January, beating forecasts of a 1.1% decrease.
The Swiss State Secretariat for Economic Affairs released its unemployment data for Switzerland on Tuesday. The Swiss unemployment rate remained at a seasonally adjusted 3.4% in February.
On a seasonally unadjusted basis, the unemployment rate in Switzerland decreased to 3.7% in February from 3.8% in January. Analysts had expected the unemployment rate to remain unchanged at 3.8%.
EUR/USD: the currency pair fell to $1.1001
GBP/USD: the currency pair declined to $1.4199
USD/JPY: the currency pair rose to Y113.15
The most important news that are expected (GMT0):
13:15 Canada Housing Starts February 165.9 180
13:30 Canada Building Permits (MoM) January 11.3% -2%
17:00 United Kingdom MPC Member Weale Speaks
23:30 Australia Westpac Consumer Confidence March 4.2%
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