European session: The Japanese yen rose substantially against the U.S. dollar

Data

02:00 New Zealand Spending on credit cards, y / y +3.5% in December -1.2%

09:00 Switzerland World Economic Forum Annual

09:30 UK approved applications for mortgage loans as BBA, thousand 45.0 47.2 December 46.5

12:05 UK BOE Mark Carney Speech

Euro fell to its maximum value against the dollar, while returning to the levels of the session. Experts note that the euro is supported on improved economic performance of the eurozone. Recall that yesterday the euro strengthened against the dollar on evidence that the eurozone economy continues to grow, which may slightly reduce the likelihood that in the near future the ECB will extend the incentive program . Meanwhile , moderate inflation is still a problem. Improving PMI in January report indicates that eurozone GDP growth can accelerate from 0.3 % to 0.4 % in the 1st quarter of this year .

But , despite such positive, the euro is not able to maintain its position , and fell sharply , which was due to technical factors , namely an order to sell at the maximum , as well as the comments of the EU representative Rena . EU representative Rehn noted that it is important that the ECB continued expansionary policy to achieve the inflation target . Meanwhile, he added that low inflation does not change the balance in the euro-zone economy . In his opinion, banks should start the process of recapitalization to pass the stress test . He also said that the negotiations on the debt and the program of aid to Greece are planned for summer

Pound fell sharply against the U.S. dollar , which was mainly due to the application of the Bank of England, Mark Carney , who said that the Committee on monetary policy to publish a new benchmark in February. Politicians consider a number of options to change the landmark he said at the World Economic Forum in Davos , Switzerland. Recall that in August, the Bank of England has pledged to keep interest rates at the current level - 0.50 per cent up until unemployment falls to 7 percent. Recent data showed that the unemployment rate fell to 7.1 percent in the three months to November.

"The Bank will assess the prevailing economic conditions , including a broader slowdown and inflationary pressures , before making a decision , which will correspond to the position for monetary policy ," said Carney . He assured that the interest rate is likely to remain well below historical values ​​in the medium term . Many of the " headwinds " restraining the economy , will be celebrated for some time.

"The amount of incentives will also remain unchanged for some time ," said the head of the central bank. " This should help reassure UK business , and indicate that the rise in interest rates will correspond to a sustained recovery ."

The yen rose against the dollar significantly , while still showing better results than yesterday. Note that risk aversion increases the interest in selling the yen. Meanwhile, add the yen rising on expectations that the Federal Reserve will continue to minimize the quantitative easing program at the January meeting . More and more people are inclined to believe that the Fed will simply continue to reduce QE. In general, the economic recovery is strong enough , despite the recent negative statistical data from the United States. According to the median forecast of economists at the next meeting of the FOMC, which will be held January 28-29 , CB again reduce monthly asset purchases by 10 billion dollars Yesterday's employment statistics showed that the number of applications for unemployment benefits rose slightly last week, although the overall level indicates a marked improvement in the labor market .

EUR / USD: during the European session, the pair rose to $ 1.3739 , but then fell to $ 1.3688

GBP / USD: during the European session, the pair fell to $ 1.6493

USD / JPY: during the European session, the pair fell to Y102.00, then recovered slightly

At 13:30 GMT , Canada will release the consumer price index and the core consumer price index from the Bank of Canada in December. At 14:00 GMT Belgium introduce index business sentiment for January.