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    Foreign exchange market. European session: the euro fell against the U.S. dollar as concerns over new debt talks between Greece and the European Union weighed on the euro | 20.02.2015

     

    Economic calendar (GMT0):

     

     

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

     

     

    00:00 China Bank holiday

    01:35 Japan Manufacturing PMI (Preliminary) February 52.2 52.6 51.5

    07:00 Germany Producer Price Index (MoM) January -0.7% -0.3% -0.6%

    07:00 Germany Producer Price Index (YoY) January -1.7% -2.2%

    08:00 France Services PMI (Preliminary) February 49.4 49.9 53.4

    08:00 France Manufacturing PMI (Preliminary) February 49.2 49.7 47.7

    08:30 Germany Manufacturing PMI (Preliminary) February 50.9 51.8 50.9

    08:30 Germany Services PMI (Preliminary) February 54.0 54.3 55.5

    09:00 Eurozone Manufacturing PMI (Preliminary) February 51.0 51.6 51.1

    09:00 Eurozone Services PMI (Preliminary) February 52.7 53.2 53.9

    09:30 United Kingdom Retail Sales (MoM) January 0.2% Revised From 0.4% -0.1% -0.3%

    09:30 United Kingdom Retail Sales (YoY) January 4.0% Revised From 4.3% 6.0% 5.4%

    09:30 United Kingdom PSNB, bln January 9.8 Revised From 12.5 -9.5 -9.4

    The U.S. dollar traded mixed against the most major currencies ahead the U.S. preliminary manufacturing purchasing managers' index. The index is expected to decline to 53.7 in February from 53.9 in January.

     

     

    The euro fell against the U.S. dollar as concerns over new debt talks between Greece and the European Union weighed on the euro. Greece yesterday submitted a request for an extension of its existing loan agreement. But German Finance Minister Wolfgang Schaeuble replied that the Greek loan proposal was "not a substantial proposal for a solution".

     

     

    Another round of talks between Greece and the European Union was scheduled to take place on Friday.

     

     

    Eurozone's preliminary manufacturing PMI increased to 51.1 in February from 51.0 in January, missing expectations for a rise to 51.6.

     

     

    Eurozone's preliminary services PMI rose to 53.9 in February from 52.7 in January. Analysts had expected the index to climb to 53.2.

     

     

    Germany's preliminary manufacturing PMI remained unchanged at 50.9 in February from 51.2 in December, missing forecasts of an increase to 51.8.

     

     

    Germany's preliminary services PMI increased to 55.5 in February from 54.0 in January, beating expectations for a gain to 54.3.

     

     

    France's preliminary manufacturing PMI fell to 47.7 in February from 49.2 in January, missing forecasts of a rise to 49.7.

     

     

    France's preliminary services PMI rose to 53.4 in February from 49.4 in January, exceeding expectations for a gain to 49.9.

     

     

    The British pound dropped against the U.S. dollar after the weaker-than-expected U.K. economic data. Retail sales in the U.K. decreased 0.3% in January, missing expectations for a 0.1% drop, after a 0.2% gain in December. December's figure was revised down from a 0.4% rise.

     

     

    The increase was driven by lower food, clothing and footwear sales.

     

     

    On a yearly basis, retail sales in the U.K. climbed 5.4% in January, missing expectations for a 6.0% rise, after a 4.0% increase in December. December's figure was revised down from a 4.3% increase.

     

     

    The public sector net borrowing in the U.K. dropped by £9.4 billion in January, missing expectations for a decline to £9.5 billion, after a rise by£9.9 billion in December. December's figure was revised down from an increase by £12.5 billion.

     

     

    The decline was driven by a tax receipts of self-employed workers and top rate taxpayers.

     

     

    The Canadian dollar traded higher against the U.S. dollar ahead of the Canadian retail sales data. Canadian retail sales are expected to decrease 0.3% in December, after a 0.4% rise in November.

     

     

    Canadian retail sales excluding automobiles are expected to drop 0.7% in December, after a 0.7% gain in November.

     

     

    EUR/USD: the currency pair declined to 1.1297

     

     

    GBP/USD: the currency pair fell to $1.5342

     

     

    USD/JPY: the currency pair decreased to Y118.53

     

     

    The most important news that are expected (GMT0):

     

     

    13:30 Canada Retail Sales, m/m December 0.4% -0.3%

    13:30 Canada Retail Sales ex Autos, m/m December 0.7% -0.7%

    14:45 U.S. Manufacturing PMI (Preliminary) February 53.9 53.7


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