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00:30 Australia Gross Domestic Product (QoQ) Quarter IV +0.5% +0.6% +0.6%
00:30 Australia Gross Domestic Product (YoY) Quarter IV +3.1% +3.0% +3.1%
The dollar fell for a second day against most of its 16 major counterparts before a private jobs report in the U.S. forecast to show companies added positions. U.S. companies took on more workers last month after adding the most jobs in almost a year in January, figures from the Roseland, New Jersey-based ADP Research Institute will probably show today. The Dollar Index declined for a third day before the Federal Reserve releases its Beige Book report.
The euro was little changed against the yen for a third session before European Central Bank President Mario Draghi and his board meet tomorrow. The ECB will probably maintain its benchmark rate at 0.75 percent this week, according to a Bloomberg survey. The central bank will also update its December economic forecasts.
The euro area’s gross domestic product probably fell 0.6 percent in the fourth quarter from the previous three-month period, according to the median estimate of economists surveyed by Bloomberg before the data today. The European Commission sees inflation at 1.8 percent this year and 1.5 percent in 2014.
Australia’s dollar gained after the nation’s statistics bureau said GDP expanded 0.6 percent in the fourth quarter and revised growth for the previous three months up to 0.7 percent from 0.5 percent previously.
EUR / USD: during the Asian session, the pair rose to $ 1.3070.
GBP / USD: during the Asian session, the pair rose to $ 1.5155.
USD / JPY: during the Asian session the pair fell to Y93.00.
No UK data of note on the calendar with moves to come from position adjustments ahead of Thursday's rate decisions from the BOE and ECB. Eurozone Q4 GDP due at 1000GMT with US ADP jobs data at 1315GMT and US factory orders at 1500GMT the only key data releases on the day. Position adjustments ahead of Thursday's ECB Draghi's press conference could see market probing for stops.
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