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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
01:30 Australia RBA Meeting's Minutes
08:00 Eurozone Current account, unadjusted, bln February 8.3 Revised From 6.3 11.1
09:00 Eurozone Construction Output, y/y February 4.9% Revised From 6% 2.5%
09:00 Eurozone ZEW Economic Sentiment April 10.6 8.8 21.5
09:00 Germany ZEW Survey - Economic Sentiment April 4.3 8 11.2
The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. housing market data. Housing starts in the U.S. are expected to decline to 1.170 million units in March from 1.178 million units in February.
The number of building permits is expected to increase to 1.200 million units in March from 1.177 million units in February.
The euro traded higher against the U.S. dollar after the release of the positive economic data from the Eurozone. The ZEW Center for European Economic Research released its economic sentiment index for Germany and the Eurozone on Tuesday. Germany's ZEW economic sentiment index increased to 11.2 in April from 4.3 in March, exceeding expectations for a rise to 8.0.
"Surprisingly positive economic news from China seem to have improved the sentiment amongst financial market experts. On balance, however, the continued poor growth in China and other important emerging markets continues to be a burden for the German export industry. Furthermore, concern about Great Britain's possible exit from the EU seems to be having a negative impact," head of the "International Finance and Financial Management" Research Department at ZEW, Sascha Steffen, said.
Eurozone's ZEW economic sentiment index climbed to 21.5 in April from 10.6 in March, beating expectations for a decline to 8.8.
The European Central Bank (ECB) released its current account on Tuesday. Eurozone's current account surplus declined to a seasonally adjusted €19.0 billion in February from €27.5 billion in January. January's figure was revised up from a surplus of €25.4 billion.
The trade surplus fell to €24.6 billion in February from €30.4 billion in January. The surplus on services increased to €6.8 billion in February from €3.8 billion in January.
The British pound traded higher against the U.S. dollar in the absence of any major economic data from the U.K.
The Canadian dollar traded higher against the U.S. dollar ahead of a speech by the Bank of Canada Governor Stephen Poloz.
EUR/USD: the currency pair rose to $1.1349
GBP/USD: the currency pair increased to $1.4387
USD/JPY: the currency pair climbed to Y109.48
The most important news that are expected (GMT0):
12:30 U.S. Housing Starts March 1178 1170
12:30 U.S. Building Permits March 1177 1200
13:30 Australia RBA's Governor Glenn Stevens Speech
14:30 United Kingdom BOE Gov Mark Carney Speaks
15:00 Canada BOC Gov Stephen Poloz Speaks
23:50 Japan Tertiary Industry Index February 1.5%
23:50 Japan Trade Balance Total, bln March 242.8 834.6
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