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07.01.2016 13:15

Foreign exchange market. European session: the euro traded higher against the U.S. dollar after the release of the mixed economic data from the Eurozone

Economic calendar (GMT0):

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

00:30 Australia Building Permits, m/m November 3.3% Revised From 3.9% -3% -12.7%

00:30 Australia Trade Balance November -3.25 Revised From -3.30 -3.1 -2.90

07:00 Germany Factory Orders s.a. (MoM) November 1.7% Revised From 1.8% 0.1% 1.5%

07:00 Germany Retail sales, real unadjusted, y/y November 2.1% 2.4% 2.3%

07:00 Germany Retail sales, real adjusted November -0.1% Revised From -0.4% 0.5% 0.2%

08:00 United Kingdom Halifax house price index December 0.0% Revised From -0.2% 0.5% 1.7%

08:00 United Kingdom Halifax house price index 3m Y/Y December 9% 9% 9.5%

10:00 Eurozone Business climate indicator December 0.36 0.4 0.41

10:00 Eurozone Economic sentiment index December 106.1 106.1 106.8

10:00 Eurozone Industrial confidence December -3.2 -2.9 -2

10:00 Eurozone Consumer Confidence (Finally) December -5.9 -5.7 -5.7

10:00 Eurozone Retail Sales (MoM) November -0.2% Revised From -0.1% 0.2% -0.3%

10:00 Eurozone Retail Sales (YoY) November 2.4% Revised From 2.5% 2% 1.4%

10:00 Eurozone Unemployment Rate November 10.6% Revised From 10.7% 10.7% 10.5%

The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. initial jobless claims data today. The number of initial jobless claims in the U.S. is expected to decline by 12,000 to 275,000 last week.

The euro traded higher against the U.S. dollar after the release of the mixed economic data from the Eurozone. The European Commission released its economic sentiment index for the Eurozone on Thursday. The index increased to 106.8 in December from 106.1 in November. Analysts had expected the index to remain unchanged at 106.1.

The increase was driven by higher confidence in industry.

The industrial confidence index climbed to -2.0 in December from -3.2 in November, exceeding expectations for a gain to -2.9.

The final consumer confidence index was up to -5.7 in December from -5.9 in November, in line with expectations.

The business climate index increased to 0.41 in December from 0.36 in November. Analysts had expected the index to rise to 0.40.

Eurostat released its unemployment data for the Eurozone on Thursday. Eurozone's unemployment rate declined to 10.5% in November from 10.6% in October. It was the lowest reading since October 2011. October's figure was revised down from 10.7%. Analysts had expected the unemployment rate to rise to 10.7%.

Destatis released its retail sales for Germany on Thursday. German adjusted retail sales rose 0.2% in November, missing forecasts of a 0.5% gain, after a 0.1% fall in October. October's figure was revised up from a 0.4% drop.

On a yearly basis, German unadjusted retail sales jumped 2.3% in November, missing expectations for a 2.4% gain, after a 2.1% rise in October.

German seasonal adjusted factory orders climbed 1.5% in November, exceeding expectations for a 0.1% increase, after a 1.7% rise in October. October's figure was revised up from a 1.8% gain.

The rise was driven by an increase in foreign and domestic orders. Foreign orders increased by 0.6% in November, while domestic orders rose by 2.6%.

The British pound traded lower against the U.S. dollar. Halifax released its house prices data for the U.K. on Thursday. House prices in the U.K. jumped 1.7% in December, exceeding expectations for a 0.5% gain, after a flat reading in November. November's figure was revised up from a 0.2% decrease.

On a yearly basis, house prices climbed 9.5% in the three months to December, after a 9.0% increase in the three months to November. Analysts had expected the index to rise 9.0%.

"There remains, however, a substantial gap between demand and supply with the latest figures showing a further decline in the number of properties available for sale. This situation is unlikely to change significantly in the short-term, resulting in continuing upward pressure on prices," Halifax's housing economist Martin Ellis said.

The Canadian dollar traded lower against the U.S. dollar ahead of the Canadian economic data. Canada's seasonally adjusted Ivey purchasing managers' index is expected to drop to 56.7 in December from 63.6 in November.

The Bank of Canada Governor Stephen Poloz is expected to speak at 13:25 GMT.

EUR/USD: the currency pair rose to $1.0874

GBP/USD: the currency pair fell to $1.4532

USD/JPY: the currency pair decreased to Y117.32

The most important news that are expected (GMT0):

13:25 Canada BOC Gov Stephen Poloz Speaks

13:30 U.S. Continuing Jobless Claims December 2198 2193

13:30 U.S. Initial Jobless Claims January 287 275

15:00 Canada Ivey Purchasing Managers Index December 63.6 56.7

07.01.2016 13:01

Orders

Market Focus

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  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
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