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17.02.2016 13:17

Foreign exchange market. European session: the euro traded lower against the U.S. dollar after the release of the weak construction output data from the Eurozone

Economic calendar (GMT0):

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

00:30 U.S. FOMC Member Rosengren Speaks

09:30 United Kingdom Average Earnings, 3m/y December 2.1% Revised From 2% 1.9% 1.9%

09:30 United Kingdom Average earnings ex bonuses, 3 m/y December 1.9% 1.8% 2%

09:30 United Kingdom Claimant count January -15.2 Revised From -4.3 -3 -14.8

09:30 United Kingdom ILO Unemployment Rate December 5.1% 5% 5.1%

10:00 Eurozone Construction Output, y/y December 0.3% Revised From 2.1% -0.4%

10:00 Switzerland Credit Suisse ZEW Survey (Expectations) February -3 -5.9

12:00 U.S. MBA Mortgage Applications February 9.3% 8.2%

The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. economic data. The U.S. PPI is expected to decline 0.2% in January, after a 0.2% drop in December.

The U.S. producer price inflation excluding food and energy is expected to rise 0.1% in January, after a 0.1 gain in December.

The U.S. industrial production is expected to increase 0.4% in January, after a 0.4% fall in December.

Housing starts in the U.S. are expected to rise to 1.170 million units in January from 1.149 million units in December.

The number of building permits is expected to decrease to 1.200 million units in January from 1.204 million units in December.

The Fed is scheduled to release its latest monetary policy minutes at 19:00 GMT.

The euro traded lower against the U.S. dollar after the release of the weak construction output data from the Eurozone. The Eurostat released its construction production data for the Eurozone on Wednesday. Construction production in the Eurozone declined 0.6% in December, after a 0.9% rise in November.

Civil engineering output declined 0.7% in December, while production in the building sector was down 0.4%.

In 2015 as whole, construction production fell 1.0%, compared with 2014.

The British pound traded higher against the U.S. dollar after the release of the U.K. labour market data. The Office for National Statistics (ONS) released its labour market data on Wednesday. The U.K. unemployment rate remained unchanged at 5.1% in the October to December quarter. It was the lowest reading since three months to October 2005.

Analysts had expected the unemployment rate to decline to 5.0%.

Average weekly earnings, excluding bonuses, climbed by 2.0% in the October to December quarter, beating expectations for a 1.8% rise, after a 1.9% gain in the September to November quarter.

Average weekly earnings, including bonuses, rose by 1.9% in the October to December quarter, in line with expectations, after a 2.1% increase in the September to November quarter. The previous quarter's figure was revised up from a 2.0% rise.

The Bank of England monitors closely the wages growth it considers when to start hiking its interest rate.

The Canadian dollar traded higher against the U.S. dollar ahead of the release of the Canadian economic data.

The Swiss franc traded lower against the U.S. dollar. A survey by the ZEW Institute and Credit Suisse Group showed on Wednesday that Switzerland's economic sentiment index plunged to -5.9 in February from -3.0 in January. "The analysts surveyed tend to expect a decline in Swiss economic activity. Most of the analysts surveyed (82%) continue to rate the present state of Switzerland's economy as being "normal"," the ZEW said.

EUR/USD: the currency pair decreased to $1.1123

GBP/USD: the currency pair rose to $1.4338

USD/JPY: the currency pair increased to Y114.29

The most important news that are expected (GMT0):

13:30 Canada Foreign Securities Purchases December 2.58

13:30 U.S. PPI, m/m January -0.2% -0.2%

13:30 U.S. PPI, y/y January -1% -0.6%

13:30 U.S. PPI excluding food and energy, m/m January 0.1% 0.1%

13:30 U.S. PPI excluding food and energy, Y/Y January 0.3% 0.4%

13:30 U.S. Building Permits January 1204 1200

13:30 U.S. Housing Starts January 1149 1170

14:15 U.S. Capacity Utilization January 76.5% 76.7%

14:15 U.S. Industrial Production YoY January -1.8%

14:15 U.S. Industrial Production (MoM) January -0.4% 0.4%

19:00 U.S. FOMC meeting minutes

21:45 New Zealand PPI Input (QoQ) Quarter IV 1.6%

21:45 New Zealand PPI Output (QoQ) Quarter IV 1.3%

23:50 Japan Trade Balance Total, bln January 140 -680.2

17.02.2016 13:00

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