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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
00:30 Australia House Price Index (QoQ) Quarter IV 2.0% 0.0% 0.2%
02:00 Japan Manufacturing PMI (Preliminary) March 50.1 50.6 49.1
04:30 Japan All Industry Activity Index, m/m January -0.9% 1.9% -0.9%
05:35 Australia RBA's Governor Glenn Stevens Speech
07:00 Switzerland Trade Balance February 3.51 Revised From 3.513 2.88 4.07
08:00 France Services PMI (Preliminary) March 49.2 49.5 51.2
08:00 France Manufacturing PMI (Preliminary) March 50.2 50.2 49.6
08:30 Germany Services PMI (Preliminary) March 55.3 55 55.5
08:30 Germany Manufacturing PMI (Preliminary) March 50.5 50.8 50.4
09:00 Eurozone Manufacturing PMI (Preliminary) March 51.2 51.3 51.4
09:00 Eurozone Services PMI (Preliminary) March 53.3 53.3 54
09:00 Germany IFO - Expectations March 98.9 Revised From 98.8 99.5 100
09:00 Germany IFO - Current Assessment March 112.9 112.6 113.8
09:00 Germany IFO - Business Climate March 105.7 106 106.7
09:30 United Kingdom PSNB, bln February 14.41 Revised From 11.81 -5.4 -6.49
09:30 United Kingdom Producer Price Index - Input (MoM) February -1.1% Revised From -0.7% 0.6% 0.1%
09:30 United Kingdom Producer Price Index - Output (MoM) February -0.1% -0.1% 0.1%
09:30 United Kingdom Producer Price Index - Input (YoY) February -8% Revised From -7.6% -7.3% -8.1%
09:30 United Kingdom Retail prices, Y/Y February 1.3% 1.3% 1.3%
09:30 United Kingdom Retail Price Index, m/m February -0.7% 0.5% 0.5%
09:30 United Kingdom Producer Price Index - Output (YoY) February -1.0% -1.2% -1.1%
09:30 United Kingdom HICP, m/m February -0.8% 0.4% 0.2%
09:30 United Kingdom HICP, Y/Y February 0.3% 0.4% 0.3%
09:30 United Kingdom HICP ex EFAT, Y/Y February 1.2% 1.2% 1.2%
10:00 Eurozone ZEW Economic Sentiment March 13.6 8.2 10.6
10:00 Germany ZEW Survey - Economic Sentiment March 1 5 4.3
13:00 U.S. Housing Price Index, m/m January 0.5% Revised From 0.4% 0.5% 0.5%
The U.S. dollar traded mixed against the most major currencies ahead the release of the existing economic data. The U.S. preliminary manufacturing PMI is expected to rise to 51.8 in March from 51.3 in February.
The euro traded lower against the U.S. dollar after explosions (terrorist attacks) at the international airport in Brussels. News reported that at least 26 people have been killed.
Market participants also eyed the economic data from the Eurozone. Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for the Eurozone on Tuesday. Eurozone's preliminary manufacturing PMI rose to 51.4 in March from 51.2 in February. Analysts had expected the index to increase to 51.3.
The increase was driven by a faster growth in output and new orders.
Eurozone's preliminary services PMI increased to 54.0 in March from 53.3 in February. Analysts had expected the index to remain unchanged at 53.3.
The index was driven by a rise in in new business.
"The Eurozone saw renewed signs of life at the start of spring. The March PMI showed a welcome end to the worrying slowdown trend seen in the first two months of the year, putting the region on course for a 0.3% expansion of GDP in the first quarter ", Markit's Chief Economist Chris Williamson said.
Germany's preliminary manufacturing PMI fell to 50.4 in March from 50.5 in February, missing forecasts of a rise to 50.8. The fall in the manufacturing PMI was driven by a weaker increase in new export business.
Germany's preliminary services PMI was up to 55.5 in March from 55.3 in February. Analysts had expected index to decrease to 55.0. Output charges climbed in the services sector.
France's preliminary manufacturing PMI dropped to 49.6 in March from 50.2 in February. Analysts had expected the index to remain unchanged at 50.2.
France's preliminary services PMI climbed to 51.2 in March from 49.2 in February. Analysts had expected the index to rise to 49.5. The services index was driven by a rise in new business.
The British pound traded lower against the U.S. dollar after the release of the consumer price inflation data from the U.K. The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index remained unchanged at 0.3% year-on-year in February, missing expectations for a rise to 0.4%.
A rise in food prices offset a drop in the transport sector prices.
On a monthly basis, U.K. consumer prices increased 0.2% in February, missing expectations for a 0.4% gain, after a 0.8% drop in January.
Consumer price inflation excluding food, energy, alcohol and tobacco prices remained unchanged at 1.2% year-on-year in February, in line with expectations.
The Retail Prices Index remained unchanged at 1.3% year-on-year in February, in line with expectations.
The consumer price inflation is below the Bank of England's 2% target.
The Canadian dollar traded mixed against the U.S. dollar ahead of the release of the Canadian annual budget.
The Swiss franc traded mixed against the U.S. dollar. The Swiss Federal Customs Administration released its trade data on Tuesday. The Swiss trade surplus widened to CHF4.07 billion in February from CHF3.509 billion in the previous month. January's figure was revised down from a surplus of CHF3.513 billion.
Exports climbed 8.8% year-on-year in February, while imports were down 2.6%.
On a monthly basis, exports rose 2.8% in February, while imports declined 2.0%.
EUR/USD: the currency pair fell to $1.1186
GBP/USD: the currency pair declined to $1.4203
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
13:45 U.S. Manufacturing PMI (Preliminary) March 51.3 51.8
14:00 U.S. Richmond Fed Manufacturing Index March -4 -1
20:00 Canada Annual Budget
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