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02.12.2015 13:03 Foreign exchange market. European session: the euro traded lower against the U.S. dollar on the weaker-than-expected consumer price inflation data from the Eurozone

Economic calendar (GMT0):

 

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

 

00:30 Australia Gross Domestic Product (YoY) Quarter III 1.9% Revised From 2.0% 2.3% 2.5%

00:30 Australia Gross Domestic Product (QoQ) Quarter III 0.3% Revised From 0.2% 0.7% 0.9%

01:00 U.S. FOMC Member Brainard Speaks

09:30 United Kingdom PMI Construction November 58.8 58.2 55.3

10:00 Eurozone Producer Price Index, MoM October -0.4% Revised From -0.3% -0.4% -0.3%

10:00 Eurozone Producer Price Index (YoY) October -3.2% Revised From -3.1% -3.2% -3.1%

10:00 Eurozone Harmonized CPI ex EFAT, Y/Y (Preliminary) November 1.1% 1% 0.9%

10:00 Eurozone Harmonized CPI, Y/Y (Preliminary) November 0.1% 0.2% 0.1%

12:00 U.S. MBA Mortgage Applications November -3.2% -0.2%

The U.S. dollar traded mixed against the most major currencies ahead the release of the U.S. economic data. According to the ADP employment report, the U.S. economy is expected to add 190,000 jobs in November.

 

The Fed Chairwoman Janet Yellen will speak at 17:25 GMT.

 

The euro traded lower against the U.S. dollar on the weaker-than-expected consumer price inflation data from the Eurozone. Eurostat released its consumer price inflation data for the Eurozone on Wednesday. The preliminary consumer price inflation in the Eurozone remained unchanged at an annual rate of 0.1% in November, missing expectations for a rise to 0.2%.

 

The preliminary consumer price inflation excluding food, energy, alcohol, and tobacco fell to an annual rate of 0.9% in November from 1.1% in October. Analysts expected the inflation to decline to 1.0%.

 

Food, alcohol and tobacco prices were up 1.5% in November, non-energy industrial goods prices gained 0.5%, and services prices climbed 1.1%, while energy prices dropped 7.3%.

 

Eurozone's producer price index declined 0.3% in October, beating expectations for a 0.4% drop, after a 0.4% decrease in September. September's figure was revised down from a 0.3% fall.

 

Intermediate goods prices fell 0.4% in October, capital goods prices were flat, non-durable consumer goods prices declined 0.2%, and durable consumer goods prices were stable, while energy prices decreased 0.4%.

 

On a yearly basis, Eurozone's producer price index dropped 3.1% in October, beating expectations for a 3.2% decrease, after a 3.2% fall in September. September's figure was revised down from a 3.1% drop.

 

Eurozone's producer prices excluding energy fell 0.7% year-on-year in October. Energy prices dropped at an annual rate of 9.7%.

 

The British pound traded lower against the U.S. dollar after the weaker-than-expected construction PMI data from the U.K. Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. fell to 55.3 in November from 58.8 in October, missing expectations for a fall to 58.2. It was the lowest level since April.

 

A reading above 50 indicates expansion in the construction sector.

 

The index was driven by a decline in all three broad areas of construction activity.

 

"The UK construction recovery is down but not out, according to November's survey data. Aside from a pre-election growth slowdown in April, the latest expansion of construction activity was the weakest for almost two-and-a-half years amid a sharp loss of housebuilding momentum," Senior Economist at Markit, Tim Moore, said.

 

The Canadian dollar traded mixed against the U.S. dollar ahead of the release of the Bank of Canada's interest rate decision. Analysts expect the central bank to keep its interest rate unchanged.

 

EUR/USD: the currency pair declined to $1.0579

GBP/USD: the currency pair fell to $1.5022

USD/JPY: the currency pair increased to Y123.21

The most important news that are expected (GMT0):

13:10 U.S. FOMC Member Dennis Lockhart Speaks

13:15 U.S. ADP Employment Report November 182 190

13:30 U.S. Nonfarm Productivity, q/q (Finally) Quarter III 3.3% 2.2%

13:30 U.S. Unit Labor Costs, q/q (Finally) Quarter III -1.8% 1.1%

15:00 Canada Bank of Canada Rate 0.5% 0.5%

15:00 Canada BOC Rate Statement

17:25 U.S. Fed Chairman Janet Yellen Speaks

19:00 U.S. Fed's Beige Book

20:40 U.S. FOMC Member Williams Speaks



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