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02:00 New Zealand Expected Annual Inflation 2y from now IV quarter +2.3% +2.3%
07:00 Switzerland UBS Consumption Indicator October 1.04 1.31
07:00 Germany Import prices October -0.7% -0.5% 0.6%
07:00 Germany Import prices Y/Y October +1.8% +1.7% 1.5%
07:45 France Consumer confidence November 84 83 84
09:30 United Kingdom GDP, q/q (revised) Quarter III +1.0% +1.0% +1.0%
09:30 United Kingdom GDP, y/y (revised) Quarter III 0.0% -0.1%
09:30 United Kingdom Business Investment, q/q Quarter III +0.9% +1.3% +3.7%
09:30 United Kingdom Business Investment, y/y Quarter III +3.1% +4.5%
09:30 United Kingdom Index of Services September +0.2% -1.0% +1.3%
10:00 Eurozone OECD Economic Outlook -
11:30 U.S. FOMC Member Dennis Lockhart Speaks -
The euro retreated today from a three-week high against the dollar on concerns that a deal to buy back Greek bonds may fail, which would increase the amount of payments from bailout fund.
Also, the single currency has lost some ground against the yen as the euro zone finance ministers and the heads of the International Monetary Fund said that they should consider cutting interest rates in Greece, and give her more time to return the loan money after the redemption of public debt.
Note that the ministers will consider the steps that will improve conditions for the rescue of Greece, after they are more confident that the government intends to implement fiscal and structural reforms, and that the operations to repurchase debt will bring a positive result.
Meanwhile, Germany, Finland and the Netherlands insist on approving the agreement, according to which, on December 13 will be the deadline for the official decision to release the next tranche of aid to Greece.
At the same time, the IMF managing director Christine Lagarde said Greece will receive an additional 15 years to repay the loans.
The pound strengthened for the first time in four days against the euro on speculation that the agreement, which was aimed at facilitating conditions of emergency for Greece will not be able to stop the European debt crisis.
Sterling rose against all but two of its 16 major counterparts after a report, which confirmed that the UK economy expanded. It is learned that the gross domestic product rose by 1% in the third quarter, in line with expectations.
The Australian dollar reached its highest level in two months against the dollar after euro zone finance ministers reached an agreement on Greece's debt burden and deficit financing.
EUR/USD: during the European session, the pair dropped sharply, setting all-time low of $ 1.2942 and then rebounded slightly, and is now trading at $ 1.2955
GBP/USD: during the European session, the pair set a high at $ 1.6050 and then fell to $ 1.6015, but later was able to rise to $ 1.6035
USD/JPY: during the European session, the pair rose to the level of Y82.30, but could not hold out there and fell to Y82.00
At 13:30 GMT the U.S. will report a change in orders for durable goods, and changes in orders for durable goods excluding transportation equipment in October. At 14:00 GMT the U.S. will index of housing prices in 20 cities S & P / Case-Shiller composite index and a nationwide home prices S & P / CaseShiller for September. Also at this time we will know to change price index S & P / Case-Shiller U.S. Q3. At 15:00 GMT the U.S. will release the consumer confidence indicator for November and purchase of housing price index for the 3rd quarter. At 19:00 GMT the U.S. will publish economic survey of the Fed's regions "Beige Book." At 21:30 GMT the U.S. will announce the change in the volume of crude oil, according to the API for November. At 23:00 GMT the U.S. member of the FOMC Charles Evans will speak.
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