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European session:
Data:
09:30 United Kingdom BBA Mortgage Approvals February 38.1 39.1 33.1
The dollar fell after Federal Reserve Bank of St. Louis President James Bullard said monetary policy may be at a “turning point” as the world’s largest economy strengthens.
The Canadian dollar depreciated versus its U.S. counterpart as crude oil and U.S. stocks headed for weekly declines, amid reduced demand for higher-risk assets.
The Canadian currency weakened for a fourth day, the longest streak this year, and fell against the majority of its most-traded peers as a government report showed the annual inflation rate increased last month less than forecast.
The consumer price index rose 2.6% in February from a year earlier, Statistics Canada said. Economists predicted the total rate would quicken to 2.7%.
EUR/USD: the pair tested resistance in $1.3280 area, but returned to $1,3240 area later.
GBP/USD: the rate showed high in $1.5900 area, returned to $1.5840 area later.
USD/JPY: the pair receded in Y82.50 area.
US data starts at 1400GMT with BLS Mass Layoffs data and the pace of new home sales, which has been forecast to increase slightly to a 327,000 annual rate in February after a small decline in January broke a string of four straight increases.
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