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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
01:45 China Markit/Caixin Services PMI March 51.2 51.4 52.2
05:00 Japan Coincident Index (Preliminary) February 113.5 110.3
05:00 Japan Leading Economic Index (Preliminary) February 101.8 99.9 99.8
06:00 Germany Industrial Production s.a. (MoM) February 2.3% Revised From 3.3% -1.8% -0.5%
07:00 Australia RBA Assist Gov Kent Speaks
11:00 U.S. MBA Mortgage Applications April -1% 2.7%
The U.S. dollar traded mixed to higher against the most major currencies ahead of the release of the latest Fed's minutes. Market participants will closely analyse the minutes for hints for further interest rate hikes. The minutes will be released at 18:00 GMT.
The euro traded lower against the U.S. dollar after the release of the German industrial production data. Destatis released its industrial production data for Germany on Wednesday. German industrial production fell 0.5% in February, beating expectations for a 1.8% drop, after a 2.3% rise in January. January's figure was revised down from a 3.3% increase.
The output of capital goods decreased 1.0% in February, energy output declined 1.8%, and the production in the construction sector was up 1.3%, while the production of intermediate goods climbed 0.1%. The output of consumer goods declined 1.0% in February.
German industrial production excluding energy and construction fell by 0.5% in February.
The British pound traded lower against the U.S. dollar in the absence of any major economic data from the U.K.
The Canadian dollar traded lower against the U.S. dollar ahead of the release of the Canadian trade data. Canada's seasonally adjusted Ivey purchasing managers' index is expected to rise to 55.0 in March from 53.4 in February.
EUR/USD: the currency pair declined to $1.1326
GBP/USD: the currency pair decreased to $1.4004
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
14:00 Canada Ivey Purchasing Managers Index March 53.4 55
14:30 U.S. Crude Oil Inventories April 2.299 3.5
16:20 U.S. FOMC Member Mester Speaks
18:00 U.S. FOMC meeting minutes
23:30 Australia AiG Performance of Construction Index March 46.1
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