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Foreign exchange market. European session: the British pound traded lower against the U.S. dollar despite the better-than-expected construction PMI from the U.K. | 03.03.2015

 

Economic calendar (GMT0):

00:30 Australia Building Permits, m/m January -2.8% Revised From -3.3% -1.7% 7.9%

00:30 Australia Building Permits, y/y January 9.6% Revised From 8.8% 9.1%

00:30 Australia Current Account, bln Quarter IV -12.1 Revised From -12.5 -10.8 -9.6

01:30 Japan Labor Cash Earnings, YoY January 1.3% Revised From 1.6% 0.6% 1.3%

03:30 Australia Announcement of the RBA decision on the discount rate 2.25% 2.00% 2.25%

03:30 Australia RBA Rate Statement

06:45 Switzerland Gross Domestic Product (QoQ) Quarter IV 0.7% Revised From 0.6% 0.3% 0.6%

06:45 Switzerland Gross Domestic Product (YoY) Quarter IV 1.9% 1.9%

07:00 Germany Retail sales, real adjusted January 0.6% Revised From 0.2% 0.6% 2.9%

07:00 Germany Retail sales, real unadjusted, y/y January 4.8% Revised From 4.0% 5.3%

09:30 United Kingdom PMI Construction February 59.1 59.0 60.1

10:00 Eurozone Producer Price Index, MoM January -1.0% -0.6% -0.9%

10:00 Eurozone Producer Price Index (YoY) January -2.6% Revised From -2.7% -3.4%

The U.S. dollar traded mixed to higher against the most major currencies. There will released no major economic reports in the U.S. on Tuesday.

 

 

The euro declined against the U.S. dollar after the mixed economic data from the Eurozone. German adjusted retail sales climbed 2.9% in January, after a 0.6% gain in December. December's figure was revised up from a 0.2% increase. Analysts had expected retail sales to rise 0.6%.

 

 

Eurozone's producer price index dropped 0.9% in January, missing expectations for a 0.6% decrease, after a 1.0% decline in December.

 

 

The British pound traded lower against the U.S. dollar despite the better-than-expected construction PMI from the U.K. Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. rose to 60.1 in February from 59.1 in January, beating expectations for a decline to 59.0.

 

 

The Canadian dollar traded mixed against the U.S. dollar ahead of Canadian economic data. Canada's GDP is expected to rise 0.1% in December, after a 0.2% decline in November.

 

 

Canada's raw materials purchase price index is expected to decline 6.8% in January, after a 7.6% drop in December.

 

 

The Swiss franc traded lower against the U.S. dollar after the Swiss gross domestic product (GDP). Switzerland's GDP rose 0.6% in the fourth quarter, beating expectations for a 0.3% increase, after a 0.7% gain in the third quarter. The third quarter's figure was revised up from a 0.6% gain.

 

 

On a yearly basis, Switzerland's economy grew at 1.9% in the fourth quarter, after a 1.9% increase in the third quarter.

 

 

EUR/USD: the currency pair fell to $1.1153

 

 

GBP/USD: the currency pair declined to $1.5345

 

 

USD/JPY: the currency pair rose to Y119.90

 

 

The most important news that are expected (GMT0):

 

 

13:30 Canada Raw Material Price Index January -7.6% -6.8%

13:30 Canada GDP (m/m) December -0.2% 0.1%



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