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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
02:00 China Retail Sales y/y December +11.7% +11.7% +11.9%
02:00 China Industrial Production y/y December +7.2% +7.4% +7.9%
02:00 China Fixed Asset Investment December +15.8% +15.7% +15.7%
02:00 China GDP y/y Quarter IV +7.3% +7.2% +7.3%
07:00 Germany Producer Price Index (MoM) December 0.0% -0.3% -0.7%
07:00 Germany Producer Price Index (YoY) December -0.9% -1.4% -1.7%
The U.S. dollar traded higher against the most major currencies. U.S. markets were closed for a public holiday yesterday.
The New Zealand dollar declined against the U.S. dollar despite the solid NZIER business confidence index from New Zealand. The index rose to 23 in the fourth quarter from 19 in the third quarter.
Chinese economic data weighed on the kiwi. Chinese gross domestic product (GDP) rose by 7.3% in the fourth quarter, beating forecasts of a 7.2% gain, after a 7.3% increase in the third quarter.
China's industrial production climbed 7.9% in December, exceeding expectations for a 7.4% increase, after a 7.2% gain in November.
The Australian dollar traded lower against the U.S. dollar in the absence of any major economic reports from Australia. Chinese economic data weighed on the Aussie.
The Japanese yen traded lower against the U.S. dollar in the absence of any major economic reports from Japan.
EUR/USD: the currency pair fell to $1.1567
GBP/USD: the currency pair decreased to $1.5056
USD/JPY: the currency pair rose to Y118.53
The most important news that are expected (GMT0):
10:00 Eurozone ZEW Economic Sentiment January 31.8 37.6
10:00 Germany ZEW Survey - Economic Sentiment January 34.9 40.1
13:30 Canada Manufacturing Shipments (MoM) November -0.6% -0.5%
15:00 U.S. FOMC Member Jerome Powell Speaks
15:00 U.S. NAHB Housing Market Index January 57 58
21:45 New Zealand CPI, q/q Quarter IV +0.3% 0.0%
21:45 New Zealand CPI, q/q Quarter IV +1.0% +0.9%
23:30 Australia Westpac Consumer Confidence January -5.7%
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