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Market news

19 February 2016

Foreign exchange market. Asian session: the yen rose

Economic calendar (GMT0):

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

04:30 Japan All Industry Activity Index, m/m December -1.0% -0.3% -0.9%

The euro climbed ahead of consumer confidence data due later today. Analysts expect the index to come in at -6.7 points in February compared to -6.3 in the previous month. The survey is based on answers from about 2,300 respondents from all euro zone states.

The yen rose against most major currencies amid greater safe-haven demand. Lower oil prices and a selloff in Japanese stocks persuaded investors to secure their funds and turn to the yen.

The Australian dollar fell after Reserve Bank of Australia Board member John Edwards said the national currency was "a bit too high". According to the Wall Street Journal, the policymaker also said he would be more comfortable with a level around 65 U.S. cents, though he's not sure the AUD would drop so much. The Australian economy depends on exports and a stronger national currency could undermine exporters' interests.

EUR/USD: the pair rose to $1.1130 in Asian trade

USD/JPY: the pair fell to Y112.70

GBP/USD: the pair traded within $1.4310-40

The most important news that are expected (GMT0):

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

07:00 Germany Producer Price Index (MoM) January -0.5% -0.3%

07:00 Germany Producer Price Index (YoY) January -2.3% -2%

09:30 United Kingdom PSNB, bln January -6.87 13.95

09:30 United Kingdom Retail Sales (MoM) January -1% 0.8%

09:30 United Kingdom Retail Sales (YoY) January 2.6% 3.6%

13:00 U.S. FOMC Member Mester Speaks

13:30 Canada Retail Sales, m/m December 1.7% -0.6%

13:30 Canada Retail Sales YoY December 3.2%

13:30 Canada Retail Sales ex Autos, m/m December 1.1% -0.5%

13:30 Canada Consumer Price Index m / m January -0.5% -0.1%

13:30 Canada Consumer price index, y/y January 1.6% 1.7%

13:30 Canada Bank of Canada Consumer Price Index Core, y/y January 1.9% 1.9%

13:30 U.S. CPI, m/m January -0.1% -0.1%

13:30 U.S. CPI, Y/Y January 0.7% 1.3%

13:30 U.S. CPI excluding food and energy, m/m January 0.2% 0.2%

13:30 U.S. CPI excluding food and energy, Y/Y January 2.1% 2.1%

15:00 Eurozone Consumer Confidence (Preliminary) February -6.3 -6.7

Market Focus
  • German economy continues to underperform in August - IHS Markit
  • Gaps remain with U.S. on trade after 'very tough' talks - Japanese Economy Minister
  • FOMC meeting minutes showed the central bank intends to remain flexible regarding future changes to interest rates.
  • IMF: currency devaluations due to policy easing cannot improve trade balance

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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