Forex: Wednesday's review

EUR/USD: on results of yesterday's session the pair fell in $1.3030 area, showed low in $1.3000 area.

GBP/USD: the range of the yesterday's session was about 100 points ($1.5647-$ 1.5742).

USD/JPY: yesterday the pair rose, showed high on Y83.82.

At 0830GMT, the Swiss National Bank announces it's monetary policy decision. The meeting is not expected to do much beyond re-stressing its commitment to the Chf1.20 floor against the euro. The SNB is still looking for a replacement for Philippe Hildebrand, who resigned following controversy

over his wife's foreign exchange dealings. The board is therefore short one member. Thomas Jordan is the present stand-in for the role of SNB

president.

EMU data at 1000GMT sees Q4 employment and labour costs data.

UK data at 0930GMT is limited to February car production data.

A busy US data schedule starts at 1230GMT with the Producer Price Index, weekly initial jobless claims and also the NY Fed Empire State Survey. Producer prices are expected to rise 0.5% in February after soft readings in the previous two months. After falling recently, both energy and food prices are expected to rebound in February. The core PPI is expected to rise 0.2% after the 0.4% jump in January. Initial jobless claims are expected to fall 5,000 to 357,000 in the March 10 week after rising 8,000 in the previous week. Claims have remained in a tight range in recent weeks. The NY Fed Empire State

Manufacturing Index is expected to fall to a reading of 18.0 in March after jumping to a reading of 19.53 in February. This is followed at

1300GMT by the latest TICS report and then at 1345GMT by the weekly Bloomberg Comfort Index and at 1400GMT by the Philadelphia Fed index,

which is expected to rise further to a reading of 11.5 in March after rising to 10.2 in February.