08:15 Switzerland Producer & Import Prices, m/m January +0.1% +0.2% +0.1%
08:15 Switzerland Producer & Import Prices, y/y January +1.0% +1.0% +0.8%
10:00 Eurozone Industrial production, (MoM) December -0.7% +0.3% +0.7%
10:00 Eurozone Industrial Production (YoY) December -4.0% -2.3% -2.4%
10:30 United Kingdom BOE Gov King Speaks -
10:30 United Kingdom Bank of England Quarterly Inflation Report Quarter I
The euro rose against the dollar and hit the level of $ 1.3500 against the G20 meeting. Before meeting the G20 German officials hope that other members of the union would support a statement regarding the G20 debate on exchange rate, adding that Germany will continue to decline to structural reforms in the euro area and globally. In addition, they noted the need for more regulation of the international financial market.
Was released today on the European industrial production data showing that in December rose by 0.7% against 0.7% previously forecast and 0.2%. In annual terms, industrial production fell by 2.4% (which coincided with the forecast) versus 4% in November.
The British pound came under heavy pressure today after the Bank of England released a quarterly report on inflation, and after the show the head of the Central Bank Governor Mervyn King. The report of the Bank of England reported that UK GDP will remain below pre-crisis levels until 2015, and the CPI will exceed the target mark in the next three years. Head of CB King believes that restoring the UK economy will go more slowly, and that further monetary stimulus will support only market optimism, but not growth. The pound fell to a six-month low against the dollar after the King spoke of the need for further measures to stimulate foreign demand, while hinting that further currency depreciation would help improve the situation.
EUR / USD: during the European session, the pair rose to a maximum of $ 1.3520
GBP / USD: during the European session the pair fell to the low of $ 1.5533
USD / JPY: during the European session the pair rose to a maximum of Y93.78
At 13:30 GMT the U.S. will change the volume of retail trade, including excluding sales of cars and fuel, import prices for January, at 15:00 GMT - the change in stocks in commercial warehouses for December, at 15:30 GMT - data on stocks of crude oil from the Department of Energy. At 18:00 GMT the U.S. puts 10-year bonds. At 23:50 GMT, Japan will publish preliminary data on changes in GDP, Gross Domestic Product (year), the nominal gross domestic product, GDP deflator index for Q4.
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