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02.02.2015 07:30

Foreign exchange market. Asian session: U.S. dollar mixed against its major peers after GDP

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

01:35 Japan Manufacturing PMI (Finally) January 49.8 49.8 52.2

01:45 China HSBC Manufacturing PMI (Finally) January 49.8 49.8 49.7

05:30 Australia RBA Commodity prices, y/y January -21.2% -20.4%

The U.S. dollar traded mixed against its major peers after the mostly weak-than-expected U.S. economic data on Friday. The U.S. preliminary gross domestic product increased at an annual rate of 2.6% in the fourth quarter, missing expectations for a 3.3% gain, after a 5.0% rise in the third quarter. Consumers spending strengthened in the fourth quarter, but businesses investment, trade and government spending weakened. For 2014 as a whole, GDP expanded 2.4% compared to 2.2% in 2013. During the Asian session the dollar weakened against the Japanese yen, the aussie and the kiwi but gained against the euro and sterling. Data released on inflation in the Eurozone and concerns over Greece's future in the Eurozone weighed on the single currency.

The Australian dollar further recovered from a 2% slump on Thursday last week despite a weaker-than-expected Chinese HSBC Manufacturing PMI coming in at 49.7 in January compared to a previous reading of 49.8 with a forecast of 49.8. China is Australia's most important trade partner. Australia's AIG Manufacturing Index rose from 46.9 to 49 in January. Market participants expect that the central bank is likely to cut rates on February 3rd. The aussie recently was under pressure as falling energy and commodity prices weighed, lsing 5.1% in January, its biggest monthly decline since September. RBA Commodity Prices for January declined at -20.4% in January compared to -21.2% in December last year.

New Zealand's dollar firmed against the greenback in Asian trade halting the recent slump. The kiwi lost 6.)% against the U.S. dollar in January. The Reserve Bank of New Zealand opened the door for a possible rate cut at its policy meeting on Wednesday.

The Japanese yen traded higher against the greenback on Monday after data on U.S. GDP and a shrinking China's factory sector making the haven-currency more attractive. Japan's Manufacturing PMI for January rose from revised 52.1 unexpectedly to 52.2, beating forecasts of 49.8.

EUR/USD: the euro traded slightly stronger against the greenback

USD/JPY: the U.S. dollar lost against the yen

GPB/USD: Sterling traded slightly weaker against the U.S. dollar

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

08:30 Switzerland Manufacturing PMI January 54.0 54.5

08:50 France Manufacturing PMI (Finally) January 49.5 49.5

08:55 Germany Manufacturing PMI (Finally) January 51.0 51.0

09:00 Eurozone M3 money supply, adjusted y/y (Finally) January 51.0 51.0

09:30 United Kingdom Purchasing Manager Index Manufacturing January 52.5 52.9

13:30 U.S. Personal spending December +0.6% -0.1%

13:30 U.S. Personal Income, m/m December +0.4% +0.2%

13:30 U.S. PCE price index ex food, energy, m/m December 0.0% 0.0%

13:30 U.S. PCE price index ex food, energy, Y/Y December +1.4% +1.4%

14:45 U.S. Manufacturing PMI (Finally) January 53.7 54.1

15:00 U.S. Construction Spending, m/m January -0.3% +0.9%

15:00 U.S. ISM Manufacturing January 55.5 54.9

23:50 Japan Monetary Base, y/y January +38.2% +40.1%

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