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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%
08:00 United Kingdom Halifax house price index February -0.2% +0.4% +0.5%
08:00 United Kingdom Halifax house price index 3m Y/Y February +1.3% +1.9%
09:45 United Kingdom BOE Gov King Speaks
09:45 United Kingdom BOE Executive Director Andrew Bailey Speaks
10:00 Eurozone GDP (QoQ) (Revised) Quarter IV -0.6% -0.6% -0.6%
10:00 Eurozone GDP (YoY) (Revised) Quarter IV -0.9% -0.9% -0.9%
The euro fell slightly after the data, which were presented by the Statistics agency Eurostat showed that the fourth quarter GDP in the euro area fell by 0.6%, compared with a fall of 0.1% in the third quarter. Note that this was the largest reduction rate from the first quarter of 2009, but, despite this, fully consistent with the projections of experts. The report also showed, that the costs of household final consumption decreased by the end of last quarter, by 0.4%, while government spending fell by 0.1%. Meanwhile, we note that the volume of investments has decreased even more rapidly, thus showing decline of 1.1%. It also became known that the volume of exports and imports decreased by 0.9% compared to the previous quarter.
The Swiss franc and the Japanese yen weakened, as many market participants are awaiting publication of a national report on U.S. employment from ADP, which is expected to show that the company increased the number of people employed in the last month, though at a slower pace than in January .
Franc fell against all 16 major currencies after the Dow Jones moved yesterday to a record high amid optimism that the world's largest economy is gaining momentum.
Australia's currency strengthened against the dollar, recording a session with the second increase in a row, as a government report showed that the seasonally adjusted gross domestic product of Australia increased in the fourth quarter by 0.6 percent. Note that this increase is fully consistent with the average forecast of most economists, but was slightly less than the revised upwards the figure for the previous quarter of 0.7 percent expansion. Recall that according to initial estimates of growth in the third quarter was 0.5 percent. In addition, it was reported that the volume of trade fell by 2.7 percent, while real gross domestic income remained unchanged.
The pound weakened against most currencies, which is associated with the beginning of the two-day meeting of the Bank of England, which will deal with the question regarding the additional stimulus. Note that some economists predict that the central bank will increase the asset purchase program to the level of 400 billion pounds ($ 604 billion) from the current 375 billion pounds.
EUR / USD: during the European session the pair fell to the low of $ 1.3022
USD / JPY: during the European session, the pair rose to Y93.50
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