Economic calendar (GMT0):
Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual
00:30 Australia Wage Price Index, q/q Quarter IV 0.6% 0.6% 0.5%
00:30 Australia Wage Price Index, y/y Quarter IV 2.3% 2.3% 2.2%
00:30 Australia Construction Work Done Quarter IV -1.8% Revised From -3.6% -2% -3.6%
05:00 Japan Leading Economic Index (Finally) December 103.2 102 102.1
05:00 Japan Coincident Index (Finally) December 111.9 110.9
The pound extended declines amid fears of the U.K.'s exit from the European Union. Moody's warned that the country's rating could be revised in case it leaves the union. Some economists believe that U.K. exit would result in capital outflows and weaker economic growth. A referendum on EU membership will be held on June 23.
The Australian dollar fell on weak domestic data. The wage price index rose by 0.5% in the fourth quarter, while economists had expected it to grow by 0.6%. The index rose by 2.2% y/y marking the slowest growth pace since the index series was launched in 1998. Meanwhile the index of construction work done fell by 3.6% in Q4. Analysts had expected a more modest decline of 2.0%. The third quarter reading was revised to -1.8% from -3.6%.
The yen rose against the U.S. dollar amid growing demand for safe-haven assets, which was triggered by renewed declines in oil prices. Oil prices dropped after Saudi oil minister Ali Al-Naimi clearly said that his country will not implement production cuts, because there is no trust that other producers will follow its example.
EUR/USD: the pair fluctuated within $1.0000-25 in Asian trade
USD/JPY: the pair fell to Y111.65
GBP/USD: the pair fell to $1.3965
The most important news that are expected (GMT0):
(time / country / index / period / previous value / forecast)
07:00 Switzerland UBS Consumption Indicator January 1.62
07:45 France Consumer confidence February 97 97
09:30 United Kingdom BBA Mortgage Approvals January 43.98 45.2
12:00 U.S. MBA Mortgage Applications February 8.2%
14:45 U.S. Services PMI (Preliminary) February 53.2 53.5
15:00 U.S. New Home Sales January 544 520
15:30 U.S. Crude Oil Inventories February 2.147 3.165
21:45 New Zealand Visitor Arrivals January 10.5%