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07:00 Switzerland Trade Balance February 1.55 1.97 2.68
08:00 France Manufacturing PMI (preliminary) March 50.0 50.5 47.6
08:00 France Services PMI (preliminary) March 50.0 50.6 50.0
08:30 Germany Manufacturing PMI (preliminary) March 50.2 51.1 48.1
08:30 Germany Services PMI (preliminary) March 52.8 53.1 51.8
09:00 Eurozone Manufacturing PMI (preliminary) March 49.0 49.6 47.7
09:00 Eurozone Services PMI (preliminary) March 48.8 49.3 48.7
09:30 United Kingdom Retail Sales (MoM) February +0.9% -0.5% -0.8%
09:30 United Kingdom Retail Sales (YoY) February +2.0% +2.4% +1.0%
10:00 Eurozone Industrial New Orders s.a., m/m January +1.9% -2.0% -2.3%
10:00 Eurozone Industrial New Orders, y/y January -1.7% -3.1% -3.3%
The euro dropped after an index of euro-area manufacturing and services contracted more than economists forecast in March, boosting demand for the safest assets.
The yen advanced after a private report showed manufacturing may shrink in China for a fifth month, fueling concern about the global growth outlook.
A euro-area composite index based on a survey of purchasing managers in manufacturing and services dropped to 48.7 from 49.3 in February, London-based Markit Economics said in an initial estimate today. Economists forecast a gain to 49.6, according to the median of estimates in a survey. A reading below 50 indicates contraction.
Australia’s currency dropped for a third day after a preliminary reading of an index from HSBC Holdings Plc and Markit Economics showed Chinese manufacturing may contract. The gauge fell to 48.1 in March, the lowest level in four months and compared with a final reading of 49.6 for February.
EUR/USD: during european session the pair decreased, tested area of support $1,3140/30. Later the rate receded in $1.3170 area.
GBP/USD: the pair showed low in $1.5770 area, but returned above $1.5800 later.
USD/JPY: the pair showed low in Y82.70 area, but returned above Y83.00 later.
At 1400GMT, the Belgian BNB Business Confidence data is due, which is expected to improve slightly, to a reading of -6.5.
US data continues at 1400GMT with the FHFA Home Price Index and also the latest Leading Indicator data. At 2000GMT, Chicago Fed President Charles Evans presents a paper, "Effects of FOMC Forward Guidance," at the Brookings Institution where he will be on a panel. Late US data sees the 2030GMT release of money supply data. Finally, at 2330GMT, New York Fed President William Dudley speaks at the Harvard Law School's Symposium on Building the Financial System of the 21st Century.
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