Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
04:30 Japan Industrial Production (MoM) (Finally) January 4.0% 4.0% 3.7%
04:30 Japan Industrial Production (YoY) (Finally) January -2.6% -2.6% -2.8%
12:30 Canada Employment February 35.4 21.3 -1
12:30 Canada Unemployment rate February 6.6% 6.5% 6.8%
12:30 U.S. PPI, m/m February -0.8% 0.2% -0.5%
12:30 U.S. PPI, y/y February 0.0% -0.6%
12:30 U.S. PPI excluding food and energy, m/m February -0.1% -0.1% -0.5%
12:30 U.S. PPI excluding food and energy, Y/Y February 1.6% 1.0%
The U.S. dollar traded mixed to higher against the most major currencies despite the weaker-than-expected U.S. producer price index (PPI). The U.S. producer price index fell 0.5% in February, missing forecasts of a 0.2% increase, after a 0.8% drop in January.
The decline was driven by a drop in trade services.
The producer price index excluding food and energy declined 0.5% in February, missing forecasts of a 0.1% decrease, after a 0.1% fall in January.
The preliminary Thomson Reuters/University of Michigan preliminary consumer sentiment index will be released at 14:00 GMT0, and is expected to rise to 95.6 in March from a final reading of 95.4 in February.
The euro traded lower against the U.S. dollar in the absence of any major economic reports from the Eurozone. Concerns over Greece's further bailout policy and quantitative easing by the European Central Bank (ECB) still weighed on the euro.
The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K. Comments by the Bank of England (BoE) Governor Mark Carney still weighed on the pound. He said in a speech in Sheffield on Thursday that a stronger pound and low global inflation could weigh on inflation in the U.K. for some time. Carney added that a persistent period of low global inflation is possible, driven by lower oil prices and a slowdown in global demand.
The Canadian dollar traded lower against the U.S. dollar after the weaker-than-expected Canadian labour market data. Canada's unemployment rate climbed to 6.8% in February from 6.6% in January. That was the highest level since September 2014.
Analysts had expected the unemployment rate to decline to 6.5%.
The number of employed people decreased by 1,000 in February, missing expectations for a gain of 21,300, after a 35,400 rise in January.
The decline was driven by job losses in the manufacturing and natural resources sector.
EUR/USD: the currency pair fell to $1.0561
GBP/USD: the currency pair decreased to $1.4778
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
14:00 U.S. Reuters/Michigan Consumer Sentiment Index (Preliminary) March 95.4 95.6