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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
02:00 China Trade Balance, bln December 54.1 53 58.2
07:45 France CPI, m/m December -0.2% 0.1% 0.2%
07:45 France CPI, y/y December 0.0% 0.2%
10:00 Eurozone Industrial production, (MoM) November 0.8% Revised From 0.6% -0.3% -0.7%
10:00 Eurozone Industrial Production (YoY) November 2.0% Revised From 1.9% 1.3% 1.1%
12:00 U.S. MBA Mortgage Applications January -11.6% 21.3%
13:00 Switzerland Gov Board Member Fritz Zurbrugg Speaks
The U.S. dollar traded mixed to higher against the most major currencies ahead the release of the Fed's Beige Book.
The euro traded mixed against the U.S. dollar after the release of the weaker-than-expected industrial production data from the Eurozone. Eurostat released its industrial production data for the Eurozone on Wednesday. Industrial production in the Eurozone dropped 0.7% in November, missing expectations for a 0.3% decrease, after a 0.8% rise in October. October's figure was revised up from a 0.6% increase.
The fall was driven by declines in durable consumer goods, energy and capital output.
On a yearly basis, Eurozone's industrial production gained 1.1% in November, missing expectations for a 1.3% rise, after a 2.0% increase in October. October's figure was revised up from a 1.9% gain.
The increase was mainly driven by rises in durable consumer goods, non-durable consumer goods, intermediate goods output and capital goods.
The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K. Yesterday's weaker-than-expected industrial production data from the U.K. continued to weigh on the pound.
EUR/USD: the currency pair traded mixed
GBP/USD: the currency pair dropped to $1.4379
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
15:30 U.S. Crude Oil Inventories January -5.085 2.6
19:00 U.S. Federal budget December -65 -2.7
19:00 U.S. Fed's Beige Book
23:50 Japan Core Machinery Orders November 10.7% -7.9%
23:50 Japan Core Machinery Orders, y/y November 10.3% 6.3%
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