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27.02.2014 13:18

European session: the euro fell

06:45 Switzerland Gross Domestic Product (QoQ) Quarter IV +0.5% +0.4% +0.2%

06:45 Switzerland Gross Domestic Product (YoY) Quarter IV +2.1% Revised From +1.9% +2.0% +1.7%

07:45 France Consumer confidence February 86 86 85

08:15 Switzerland Employment Level Quarter IV 4.20 4.22 1.18

08:55 Germany Unemployment Change February -28 -10 -14

08:55 Germany Unemployment Rate s.a. February 6.8% 6.8% 6.8%

09:00 Eurozone M3 money supply, adjusted y/y January +1.0% +1.2%

10:00 Eurozone Business climate indicator February 0.25 Revised From 0.19 0.24 0.37

10:00 Eurozone Economic sentiment index February 101.0 Revised From 100.9 101.0 101.2

10:00 Eurozone Industrial confidence February -3.8 Revised From -3.9 -4.0 -3.4

13:00 Germany CPI, m/m (Preliminary) February -0.6% +0.6% +0.5%

13:00 Germany CPI, y/y (Preliminary) February +1.3% +1.3% +1.2%

The euro has decreased moderately against the dollar , despite exceeding the forecast of labor market data in Germany. Euro has not responded to report that the German unemployment fell more than expected , but the unemployment rate remained stable in February , data showed on Thursday , Federal Agency of Labour . Number of people out of work fell by 14,000 to 2.914 million in February. Unemployment is projected to drop by was 10,000 . At the same time , the unemployment rate to a seasonally adjusted remained stable at 6.8 percent in February .

In turn , the French consumer confidence index fell slightly in February , offset by the gain recorded in the previous month , as concerns over rising unemployment continue to plague the country , reducing the economic expectations . The consumer confidence index fell to 85 points on January 86, showed a survey conducted by the statistical office INSEE. Economists had expected the index to remain unchanged at 86.

Views of households on the general economic situation in the next 12 months deteriorated sharply in February. Corresponding index decreased by 5 points. Score consumers their financial situation over the next 12 months a little weakened. Households also expect that prices will fall in the coming months , and the corresponding sub-index reached its lowest level since March 2010 , remaining well below the long term average . Rating unemployment situation worsened a second consecutive month in February. The corresponding sub-index rose 3 points, after a gain of 4 points in January . The sub-index remained above its long-term average.

Another report from the European Commission showed that the euro zone economic confidence improved tenth consecutive month in February. Economic sentiment index rose to 101.2 in February from 101 in January. Economists had expected the index was 101 in February compared with the originally voiced 100.9 in January. Eurozone economic confidence slight increase was due to increased confidence in the construction and , to a lesser extent , services , retail and industry. At the same time , the confidence of customers in February deteriorated .

Pressure on the Swiss franc had data on slowing economic growth. Economic growth in Switzerland slowed more than expected in the fourth quarter as exports declined amid weak global demand for chemical and pharmaceutical products. This was announced on Thursday, the State Secretariat for Economic Affairs (SECO). Real GDP growth slowed more than expected to 0.2 percent from 0.5 percent in the third quarter . Projected growth should have been reduced to 0.4 per cent . Economic growth has slowed down the second consecutive quarter .

On the expenditure side , a positive contribution to GDP growth came from consumption and gross fixed capital investment . Final consumption expenditure rose by 0.7 percent, faster than the 0.4 percent expansion posted nazad.Krome quarter , the growth of gross fixed capital investment accelerated to 1.5 percent in the fourth quarter from 0.5 percent in the previous three months.

Exports of goods decreased by 1.7 percent in the fourth quarter due to falling supplies of chemical and pharmaceutical products. On the other hand , imports of goods increased by 1.4 percent. The main growth factors were chemical and pharmaceutical products and equipment .

In annual terms, GDP grew by 1.7 per cent , it is slower than the 2.1 percent expansion registered in the third quarter. Economists had forecast a slight slowdown to 2 percent .

First estimates for the full year , based on quarterly data showed that economic growth accelerated in 2013 against the backdrop of private consumption and investment . GDP grew by 2 percent in 2013 after expanding by 1 percent in 2012 . SECO expects that growth will accelerate to 2.3 percent in 2014.

EUR / USD: during the European session, the pair fell to $ 1.3642

GBP / USD: during the European session, the pair fell to $ 1.6615

USD / JPY: during the European session, the pair dropped to Y101.71

At 13:30 GMT , Canada will release the balance of current account balance of payments for the 4th quarter . At 13:30 GMT the U.S. will release the change in orders for durable goods , including excluding transport equipment in January . At 21:45 GMT New Zealand is to publish the change in volume of building permits issued in January . At 23:30 GMT Japan will change the volume level of household spending , CPI , consumer price index excluding prices for fresh food , the consumer price index excluding prices for food and energy in January , Tokyo CPI , CPI Tokyo prices excluding prices for fresh food , Tokyo CPI excluding prices for food and energy in February. At 23:50 GMT , Japan will release preliminary data on industrial production , changes in retail sales in January .

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