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Foreign exchange market. European session: British pound rose against the U.S. dollar as the Bank of England (BoE) Governor Mark Carney said that the central bank could hike its interest rate sooner than expected | 12.02.2015

 

Economic calendar (GMT0):

 

 

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

 

 

00:00 Australia Consumer Inflation Expectation February 3.2% 4.0%

00:01 United Kingdom RICS House Price Balance January 12% Revised From 11% 10% 7%

00:30 Australia Unemployment rate January 6.1% 6.2% 6.4%

00:30 Australia Changing the number of employed January 42.4 Revised From 37.4 -4.7 -12.2

06:00 Japan Prelim Machine Tool Orders, y/y January 33.8% 20.4%

07:00 Germany CPI, m/m (Finally) January -1.0% -1.0% -1.1%

07:00 Germany CPI, y/y (Finally) January -0.3% -0.3% -0.4%

09:00 Eurozone EU Economic Summit

10:00 Eurozone Industrial production, (MoM) December 0.1% Revised From 0.2% 0.3% 0.0%

10:00 Eurozone Industrial Production (YoY) December -0.8% Revised From -0.4% 0.3% -0.2%

10:30 United Kingdom BOE Inflation Letter

10:30 United Kingdom BOE Gov Mark Carney Speaks

The U.S. dollar traded mixed against the most major currencies ahead of the U.S. economic data. The U.S. retail sales are expected to decline 0.3% in January, after a 0.9% drop in December.

 

 

Retail sales excluding automobiles are expected to decrease 0.4% in January, after a 1.0% fall in December.

 

 

The U.S. business inventories are expected to rise 0.2% in December, after a 0.2% gain in November.

 

 

The euro traded higher against the U.S. dollar despite the euro group of finance ministers meeting has ended without an agreement on extending the Greece's bailout. The next meeting is scheduled to be on Monday.

 

 

Industrial production in the Eurozone was flat in December, missing expectations for a 0.3% increase, after a 0.1% rise in November. November's figure was revised down from a 0.2 increase.

 

 

On a yearly basis, Eurozone's industrial production fell 0.2% in December, missing expectations for a 0.3% rise, after a 0.8% drop in November. November's figure was revised down from a 0.4 decrease.

 

 

The British pound rose against the U.S. dollar as the Bank of England (BoE) Governor Mark Carney said that the central bank could hike its interest rate sooner than expected.

 

 

The central bank expects the consumer price inflation in the U.K. to be at around zero in the second and third quarters this year before starting to increase towards the end of 2015.

 

 

The BoE said that it could lower interest rates below 0.5% or could expand its £375 billion asset buying programme if inflation remained below target for a longer period.

 

 

The Canadian dollar rose against the U.S. dollar ahead of Canadian new housing price index. Canada's new housing price index is expected to rise 0.2% in December, after a 0.1% gain in November.

 

 

EUR/USD: the currency pair rose to $1.1354

 

 

GBP/USD: the currency pair increased to $1.5373

 

 

USD/JPY: the currency pair fell to Y118.72

 

 

The most important news that are expected (GMT0):

 

 

13:30 Canada New Housing Price Index December 0.1% 0.2%

13:30 U.S. Initial Jobless Claims February 278 278

13:30 U.S. Retail sales January -0.9% -0.3%

13:30 U.S. Retail sales excluding auto January -1.0% -0.4%

15:00 U.S. Business inventories December 0.2% 0.2%

22:30 Australia RBA's Governor Glenn Stevens Speech



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