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08:15 Switzerland Employment Level Quarter IV 4.12 4.11 4.12
08:15 Switzerland Full time employment level Quarter IV 2.83 2.82
10:00 United Kingdom MPC Member Bean Speaks
10:00 United Kingdom MPC Member Tucker Speaks
10:00 United Kingdom MPC Member Miles Speaks
10:00 United Kingdom MPC Member McCafferty Speaks
11:00 United Kingdom CBI retail sales volume balance February 17 16 8
The euro strengthened from a seven- week low against the dollar as Italian and Spanish bonds trimmed losses on easing concern that inconclusive elections in Italy will deepen Europe’s debt crisis.
The euro advanced versus 12 of its 16 major counterparts as investors bet the European Central Bank will step in to limit any losses in so-called peripheral bonds following Governor Mario Draghi’s pledge in July to safeguard the currency union.
British pound offset some losses against the dollar in the correction after aggressive sales dropped him yesterday to a minimum 1.5074. Pound also enjoys the status of safe haven amid the political uncertainty prevailing in Italy after the election. Is today a representative of the Bank of England Bean said he expects to accelerate growth of the national economy in 2013-14, and expressed readiness to take additional measures QE according to forecasts. His colleague, McCafferty said that the collapse of the eurozone risks reduced but persist that once again confirmed the elections in Italy. Later pound came under pressure after the Bank of England statement predstavlitelya Tucker that "real exchange rate should be lower."
The focus of investors is today's performance of the Fed in Congress. It will be a semi-annual report of Ben Bernanke before the Committee on Banking Senate, scheduled for 15:00 GMT. Experts say that this will be the first update since the launch speech Fed QE program for an indefinite period, and almost no doubt that Congress will take an interest to the question of how and when the Fed intends to roll this program. In addition to updated forecasts for the economy (probably a little more optimistic they will), the market will be waiting for any further clarification on QE deadlines and specific guidelines that the Central Bank can use for this.
EUR / USD: during the European session the pair fell to $ 1.3017, and then rose to $ 1.3119
GBP / USD: during the European session the pair is trading in the range of $ 1.5127 - $ 1.5217
USD / JPY: during the European session the pair updated intraday low Y91.39, and then rose to Y91.87
At 14:00 GMT the U.S. will leave the index of housing prices in 20 cities S & P / Case-Shiller composite index and a nationwide home prices S & P / CaseShiller for December will be released at 15:00 GMT indicator of consumer confidence for February, the volume of sales in the primary market for January, and at 21:30 GMT will be published data on changes in the volume of crude oil, according to API. At 15:00 GMT a speech Chairman of the Federal Reserve System. At 21:45 GMT New Zealand will publish data on the trade balance and the trade balance for January. At 23:50 GMT, Japan will issue a change in retail sales for January.
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