CFD Markets News and Forecasts — 27-02-2013

The euro strengthened against the dollar, which was the first time in three days after Italy reached target levels at placement, and a published report showed that the level of economic confidence in the region has improved this month. In addition, the data support the euro was the German Economic Institute Gfk, according to which the German consumer confidence index in the last reporting period rose to 5.9 points from the previous value of 5.8 points, which was in line with the average forecast of analysts. Earlier, two other organizations that assess the mood in the German economy, Ifo and Zew also reported improvement of their indices. Data from Gfk, Ifo and ZEW give reason to expect that economic growth in Germany will rise after weak Q4 2012. We also add that market participants' attention was focused on the speech Fed Chairman Ben Bernanke and ECB President M. Draghi, who almost did not affect the dynamics of bidding.

The yen rose against most of its 16 major pending appointment of a new head of the Bank of Japan, which will take place tomorrow. Economists also point out that the race was a favorite Kuroda, as it enjoys the highest prestige in the international arena, and although he is a critic of the Bank of Japan, it does not support the idea of ​​buying foreign bonds.

Australian and New Zealand dollars fell against the U.S. dollar, which is the third-session decline in a row, against the background of concerns that joyless election results in Italy, will exacerbate the debt crisis in Europe, and will increase investors' appetite for risky assets.

The British pound rose against the dollar after the Bank of England today Representative Bean suggested revising the target level of inflation. Report published today shows that up to the 4th quarter of the British economy grew by 0.3% vs. 0.0% y / y, while the quarterly index decreased by 0.3% in line with forecasts. General business investment fell by 1.2% q / q, the annual rate of 0.4% compared to 5.4% y / y.

The euro exchange rate has risen sharply against the U.S. dollar , which was associated with the release of weak U.S. data and Fed chief comments . It is learned that orders for durable goods (products designed for the life of three years or more ) fell to a seasonally adjusted 1% from December . This is the second consecutive decline after orders fell 4.2 % in December. But excluding the volatile transportation category , orders rose by 1.1 % last month , showing the strongest growth since May. Economists forecast that overall orders for durable goods fell 0.7% in January.

Meanwhile, another report showed that the number of initial claims for unemployment benefits rose by 14,000 and amounted to a seasonally adjusted 348,000 in the week ended February 22. The figure for the previous week was revised down to 334,000 from 336,000 . Economists had predicted that jobless drop to 333,000 . The four-week moving average of claims remained unchanged last week at 338,250 . Analyst Department of Labor said that there were no special factors that could affect the data last week.

As for the speech of the Chairman of the Federal Reserve Janet Yellen , she noted : the Fed will continue to reduce the amount of quantitative easing (QE), despite the fact that the recovery of the U.S. labor market is still far from complete. Yellen also reiterated statements made on February 11 at the House of Representatives . Initially, her performance in the Senate Banking Committee to be held on February 13 , but was postponed due to inclement weather .

Furthermore Yellen confirmed that the base rate is likely to be maintained at the current level ( 0-0.25 %) for a long time after the U.S. unemployment rate falls below 6.5% , while maintaining the inflation forecast is not above the level of 2.5 %. She noted that the decision on the rate of reduction of volumes of quantitative easing are not predefined and the FOMC will be taken depending on the assessment of the situation on the labor market and inflation.

The Canadian dollar fell slightly against the U.S. dollar , which was associated with the release of data on the balance of payments . As it became known , the current account deficit widened in Canada in the fourth quarter of 2013 and the fourth largest in history, mainly due to a higher deficit in trade in goods . The current account deficit rose to a seasonally adjusted 16.01 billion Canadian dollars ( $ 14.39 billion ) , compared with a revised deficit in the third quarter at 14.80 billion Canadian dollars . Deficit in the previous quarter originally estimated at 15.47 billion Canadian dollars . Economists had expected a deficit of $ 16.5 billion Canadian dollars .

BMO Capital Markets experts believe that the recent period of large current account deficits provides evidence that the Canadian dollar was overvalued in recent years. The recent weakening of the currency is expected to gradually lead to a smaller current account deficit in 2014.

European stocks climbed, rebounding from the lowest level in more than two weeks, as companies from European Aeronautic, Defence & Space Co. to Bouygues (EN) SA reported results that beat analysts’ estimates.

The Stoxx Europe 600 Index (SXXP) gained 0.9 percent to 287.17 at the close of trading after earlier falling as much as 0.3 percent.

Economic confidence in the euro area increased more than economists forecast in February, adding to signs that the 17- nation currency bloc may be emerging from a recession.

In the U.S., orders for durable goods excluding transportation gear climbed in January by the most in a year. Bookings for equipment meant to last at least three years minus demand for things such as aircraft, which is often volatile, climbed 1.9 percent, exceeding the median forecast of economists and the most since December 2011, Commerce Department data showed. Contracts to purchase previously owned U.S. homes climbed more than forecast.

National benchmark indexes climbed in 14 of the 18 western European markets.

FTSE 100 6,325.88 +55.44 +0.88% CAC 40 3,691.49 +69.57 +1.92% DAX 7,675.83 +78.72 +1.04%

EADS (EAD) advanced 6.5 percent to 37.14 euros, the highest price since the shares started trading in July 2000. The company reported a 68 percent gain in full-year earnings before interest, taxes and one-time items to 3 billion euros, beating the average analyst estimate of 2.57 billion euros.

Bouygues rallied 13 percent to 21.96 euros, the biggest jump since August 2011. France’s second-largest builder reported a 41 percent drop in 2012 profit to 633 million euros as its phone unit suffered from competition. That still beat the average analyst estimate of 584 million euros.

Swiss Life Holding AG (SLHN) jumped 8.7 percent to 151.90 francs, the largest increase since March 2009, as Switzerland’s biggest life insurer reported higher operating profit in its home market and France.

Bwin.Party Digital Entertainment Plc (BPTY), the gambling company that has a partnership with Atlantic City’s top-grossing casino, soared 8.9 percent to 150 pence, after New Jersey Governor Chris Christie signed legislation authorizing online gambling in the state.

Kabel Deutschland slid 2.55 euros to 67.03 euros after three people familiar with the matter said Vodafone put on hold plans to approach Kabel about a takeover bid after leaks of a potential offer complicated internal discussions.

Royal Imtech NV (IM) sank 11 percent to 8.65 euros, its lowest price since May 2005, after it announced a 500 million-euro rights offer to help cut debt.

Oil prices fell today, while leaving to the $ 112 per barrel, after the data presented show that the volume of oil rose last week.

It became known that crude oil inventories in the week ended February 22 rose by 1.13 million barrels. Meanwhile, data showed that stocks of distillates, including heating oil and diesel, rose by 557,000 barrels.

Note that the price of Brent crude oil rose in the beginning of February to $ 120, which is a nine-month high, but has since fallen back on the background of the fact that many signs point to the weakness of the global economy. Meanwhile, experts say that there is potential for further losses.

We also add that the drop in oil prices was limited, as many market participants were awaiting speech by Federal Reserve Chairman Ben Bernanke's comments that were received as aid in restoring the economy, driving up the price of oil and other risky assets.

Moreover, we recall that the prevailing tensions between the West and Iran over Tehran's nuclear program has long supported prices, helping to keep the cost of Brent crude above $ 100 for most of 2012 and this year.

April futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 93.14 dollars a barrel on the New York Mercantile Exchange.

April futures price for North Sea petroleum mix of mark Brent fell 35 cents and is now $ 112.63 a barrel on the London Stock Exchange ICE Futures Europe.

The price of gold fell today, after rising more than 1 percent in the previous session, as many investors decided to lock in some of their positions in the run-up speech by Federal Reserve Chairman Ben Bernanke. However, despite the expectation of his comments almost no effect on the dynamics of trade, as he repeated some of their statements yesterday.

Note that the last gold Big one-day rise in three months, as Bernanke said he supported an extension of the Fed's bond purchases by 85 billion dollars. We also recall that Bernanke on Tuesday did not mention about the difference in the views of the commission members FOMC, but touched all the issues that are of concern.

We also add that today, investors have struggled to maintain won last position, however, continued cautious about the longer-term prospects for gold, given the expectations of a further rise in the economic cycle, which increased appetite for riskier assets. In addition, the fall in gold prices was due to the sell-off in stock funds.

Meanwhile, we note that the pressure on the precious metal continues to be provided concerns automatic spending cuts that are set to begin on March 1, if Congress fails to take measures to address this decline.

March futures price of gold on COMEX today dropped, and now stands at 1602.50 dollars per ounce.

Global Stocks:

With orders for transportation equipment showing a substantial decrease, the Commerce Department released a report on Wednesday showing that new orders for U.S. manufactured durable goods fell by more than expected in the month of January.

The report said durable goods orders tumbled by 5.2 percent in January after jumping by a revised 3.7 percent in December. Economists had expected orders to fall by 4.0 percent compared to the 4.3 percent increase that had been reported for the previous month.

Excluding the sharp drop in orders for transportation equipment, durable goods orders actually rose by 1.9 percent in January compared to a 1.0 percent increase in December. Ex-transportation orders had been expected to edge up by 0.2 percent.

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EUR/USD $1.3110, $1.3150, $1.3200, $1.3250, $1.3300, $1.3400

USD/JPY Y92.00, Y92.45, Y92.50, Y93.00, Y93.55, Y94.50

EUR/JPY Y120.00, Y124.50, Y125.00

USD/CHF Chf0.9275

AUD/USD  $1.0150, $1.0185/90, $1.0200, $1.0250, $1.0285, $1.0290, $1.0300

07:00 Switzerland UBS Consumption Indicator January 1.34 1.18
07:00 Germany Gfk Consumer Confidence Survey March 5.8 5.9 5.9
07:45 France Consumer confidence February 86 86 86
08:00 Switzerland KOF Institute Economic Forecast February 1.12 1.00 1.03
09:00 Eurozone M3 money supply, adjusted y/y January +3.3% +3.2% +3.5%
09:30 United Kingdom Business Investment, q/q (Preliminary) Quarter IV +3.7% +2.2% -1.2%
09:30 United Kingdom GDP, q/q (Revised) Quarter IV -0.3% -0.3% -0.3%
09:30 United Kingdom GDP, y/y (Revised) Quarter IV 0.0% 0.0% +0.3%
09:40 United Kingdom MPC Member Bean Speaks
10:00 Eurozone Industrial confidence February -13.9 -13.1 -11.2
10:00 Eurozone Business climate indicator February -1.09 -1.02 -0.73

The euro strengthened for the first time in three days against the dollar as Italy reached its target in a bond sale and a report showed economic confidence in the region improved this month. Italy’s 10-year bonds advanced as the Treasury sold 4 billion euros of new 10-year securities and 2.5 billion euros of five-year notes, meeting its target. It sold the 10-year debt at an average yield of 4.83 percent, versus 4.17 percent at a previous auction Jan. 30. An index of euro-area executive and consumer sentiment rose to 91.1 from a revised 89.5 in January, the European Commission in Brussels said. Economists had forecast an increase to 89.9, according to a survey.

The 17-nation currency climbed from near a seven-week low set yesterday as Pier Luigi Bersani, whose group fell short of a senate majority in Italian elections, appealed to populist Beppe Grillo to show he’s willing to help govern. New Italian elections may be necessary if the coalition led by Democratic Party leader Bersani, who won the Chamber of Deputies by a thin margin, fails to muster a majority in the Senate. Grillo’s anti-austerity movement gained more than 25 percent of the popular vote.

The Dollar Index fell for the first time in six days before Bernanke testifies today to the House Financial Services Committee. He signaled to the Senate Banking Committee yesterday the Fed is prepared to keep buying bonds at its present pace and dismissed concerns record easing risks sparking inflation. Bernanke has pushed back against colleagues on the Federal Open Market Committee who favor curtailing the $85 billion in monthly bond-buying.

EUR / USD: during the European session, the pair rose to $ 1.3122

GBP / USD: during the European session, the pair rose to $ 1.5165

USD / JPY: during the European session, the pair is trading at lows Y91.60-70

U.S. 13:30 GMT publish the change in orders for durable goods, including excluding transportation equipment in January, at 15:00 GMT will change in the volume of outstanding home sales for January, at 15:30 GMT and will be published data on stocks of crude oil from the Department of Energy. At 15:00 GMT a speech Chairman of the Federal Reserve System. At 21:45 GMT New Zealand publish data on the change in the volume of building permits issued in January. At 23:50 in Japan will be released preliminary data on industrial production for January.

EUR/USD

Offers $1.3150, $1.3120/25

Bids $1.3030, $1.2980, $1.2965/55

GBP/USD

Offers $1.5250/60, $1.5230/35, $1.5220, $1.5180/85

Bids $1.5100, $1.5080/70, $1.5050, $1.5010/00,  $1.4980

AUD/USD

Offers $1.0320, $1.0290/95, $1.0270, $1.0250/60, $1.0225/30

Bids $1.0175, $1.0150,  $1.0100,  $1.0050

EUR/GBP

Offers stg0.8720/25, stg0.8695/700

Bids stg0.8630/20, stg0.8600, stg0.8575/70, stg0.8555/50, stg0.8520, stg0.8505/00

EUR/JPY

Offers Y122.00, Y121.50, Y121.00, Y120.70/80, Y120.40/50

Bids Y119.55/50, Y119.10/00, Y118.80/75, Y118.50

USD/JPY

Offers Y92.70/75, Y92.50, Y92.20, Y92.00

Bids Y91.50, Y91.20, Y91.05/00, Y90.85, Y90.80/75

Eurozone economic confidence improved for the fourth straight month in February, survey data from the European Commission showed Wednesday.

The economic sentiment index came in at 91.1, up from 89.5 in the prior month. The reading stayed above the consensus forecast of 89.9.

Continuing the broad upward trend observed since November, industry confidence improved to -11.2 in February from -13.8 in the prior month.

Also services confidence continued the upward trend it has been following since October. The index rose to -5.4 from -7.7 in January.

Confidence in construction, meanwhile, fell to -29.8 from -28.5 in the previous month. Consumer confidence rose to -23.6 from -23.9 in the previous month.

In a separate communique, the commission said the business Climate Indicator increased by 0.36 points to -0.73 in February. The reading was better-than an expected -1.02.

The assessment of current order books, production expectations and past production improved significantly. At the same time, the assessment of the adequacy of stocks of finished products remained virtually unchanged in February.

European stocks were little changed, after yesterday’s selloff, as Italy sold 6.5 billion euros ($8.5 billion) of securities.

Italian 10-year securities pared a monthly decline as the Rome-based Treasury sold 4 billion euros of new 10-year bonds at an average yield of 4.83 percent. That’s up from 4.17 percent at a previous auction on Jan. 30. It allotted 2.5 billion euros of five-year notes at 3.59 percent, compared with 2.94 percent at last month’s sale.

Kabel Deutschland slid 2.81 euros to 66.77 euros. Vodafone increased 1.5 percent to 164.35 pence after the company was said to have put on hold plans to approach Kabel about a takeover bid after leaks of a potential offer complicated internal discussions.

Bouygues rallied 7.2 percent to 20.79 euros. France’s second-largest building company reported a 41 percent drop in 2012 profit to 633 million euros as its phone unit suffered from competition. That still beat the average analyst estimate of 584 million euros.

Swiss Life Holding AG jumped 5.4 percent to 147.30 Swiss francs. Switzerland’s biggest life insurer reported a second- half loss of 268 million francs ($288 million) after posting a writedown on its German brokerage AWD Holding AG. The loss was narrower than the average analyst projection of 300 million francs.

FTSE 100 6,281.25 +10.81 +0.17%

CAC 40 3,635.01 +13.09 +0.36%

DAX 7,598.66 +1.55 +0.02%

The British economy contracted 0.3 percent quarter-on-quarter in the fourth quarter, unrevised from the previous estimate, the latest figures from the Office for National Statistics showed Wednesday.

The third quarter GDP figures were revised up to show a 1 percent growth for the period compared to 0.9 percent growth reported initially.

Output of the production industries fell 1.9 percent quarter-on-quarter in the fourth quarter, revised down from the previously estimated 1.8 percent fall. Manufacturing output dropped 1.3 percent, revised up from the previously estimated decrease of 1.5 percent.

Output of the service industries fell 0.1 percent while it was previously estimated to be unchanged. Output of the construction industry rose 0.9 percent, stronger than the 0.3 percent increase reported earlier.

Household final consumption expenditure increased 0.2 percent in volume terms in the latest quarter. Government final consumption expenditure increased 0.6 percent.

At the same time, gross fixed capital formation decreased 0.4 percent in the fourth quarter, following a decrease of 0.6 percent in the previous quarter.

EUR/USD $1.3110, $1.3150, $1.3200, $1.3250, $1.3300, $1.3400

USD/JPY Y92.45, Y92.50, Y93.00, Y93.55, Y94.50

EUR/JPY Y124.50, Y125.00

USD/CHF Chf0.9275

Asian stocks outside Japan gained after U.S. housing and consumer confidence data beat estimates. Japanese shares fell as the yen rose ahead of an Italian bond sale, with yields surging after the nation’s deadlocked election stoked debt crisis concern.

Nikkei 225 11,253.9 -144.84 -1.27%

Hang Seng 22,577.01 +57.32 +0.25%

S&P/ASX 200 5,036.59 +33.03 +0.66%

Shanghai Composite 2,313.22 +19.88 +0.87%

Techtronic Industries Co., a power-tool maker that counts the U.S. as its biggest market, advanced 5.8 percent in Hong Kong.

Canon Inc., a Japanese camera maker that gets 29 percent of its sales in Europe, lost 2.7 percent.

• Econ recovery to come over course of 2013
  
• Monpol cannot be substitute for reforms
  

Asian stocks fell, with the regional benchmark index poised to slide for the first time in three days, on concern Italy’s elections may reignite Europe’s debt crisis.
Hong Kong’s Hang Seng Index erased its gains this year on a report Beijing may introduce more property curbs.

Nikkei 225 11,398.81 -263.71 -2.26%

Hang Seng 22,519.69 -300.39 -1.32%

S&P/ASX 200 5,003.57 -52.20 -1.03%

Shanghai Composite 2,293.34 -32.48 -1.40%

Sony Corp., a Japanese consumer electronics maker that gets a fifth of its revenue in Europe, lost 3.7 percent.

Shimao Property Holdings Ltd. sank 4.8% in Hong Kong.

Hanwha Life Insurance Co. plunged 9.8% in Seoul after Hanwha Chemical Corp. sold its shares.

Global Logistic Properties Ltd. slumped 6.9% in Singapore after a sovereign wealth fund in the city-state said it’s selling a stake in the biggest owner of industrial properties in Japan.

European stocks declined as Italy’s inconclusive parliamentary election renewed concern that the Mediterranean nation will dilute its austerity program and the region’s sovereign-debt crisis will deepen.

The Stoxx Europe 600 Index (SXXP) fell 1.3% at the close of trading, the biggest loss since Feb. 21.

Confidence among U.S. consumers rebounded more than forecast in February from its weakest level since November 2011. The Conference Board’s index increased to 69.6 from a revised 58.4 in January. The median forecast in a Bloomberg survey of 76 economists called for a gain to 62.

National benchmark indexes dropped in all 18 western European markets, except Ireland and Denmark.

FTSE 100 6,270.44 -84.93 -1.34%

CAC 40 3,621.92 -99.41 -2.67%

DAX 7,597.11 -176.08 -2.27%

Telecom Italia plunged 7.3%, the lowest price since August 1997.

SEB SA dropped 3.5% after reporting full-year net income of 194.2 million euros ($254 million), missing the average analyst estimate for 206.6 million euros.

BASF lost 4.5%, the sharpest decrease since April. Earnings before interest, tax and one-time items increased 18 percent to 1.8 billion euros in the fourth quarter, the company said today. That missed the median analyst estimate of 1.83 billion euros.

William Demant Holding A/S (WDH), a maker of hearing aids, dropped 5.6 percent to 454.90 kroner, its largest retreat since Aug. 16. The Smorum, Denmark-based company said it expects 2013 Ebit to exceed last year’s 1.65 billion ($290 million) kroner. Analysts had estimated profit of 1.99 billion kroner.

Pandora A/S added 3.8%. The Nordic region’s biggest jewelry maker announced a plan to buy back 700 million kroner of shares this year, equal to 3.6% of its current market value.

00:30 Australia Construction Work Done Quarter IV +1.7% +1.5% -0.1%

The euro traded 0.4 percent from a seven-week low against the dollar before Italy sells bonds today after the nation’s inconclusive elections sparked the biggest advance in sovereign yields in 14 months. Italy will seek to sell as much as 4 billion euros ($5.2 billion) of a new 10-year bond today and 2.5 billion euros of a 5-year benchmark note. Yesterday, Italian 10-year bond yields climbed 41 basis points to 4.88 percent.

The euro is heading for its first monthly loss since July as Moody’s Investors Service labeled Italy’s hung parliament “credit negative,” saying it puts the country’s structural and fiscal reforms at risk. The “inconclusive outcome” of Italy’s elections “raises the possibility of new elections, thereby potentially prolonging the country’s political uncertainty,” Moody’s wrote in a report dated yesterday. “Risks to implementing structural and fiscal reforms are substantial.” New elections may be necessary if the coalition led by Democratic Party leader Pier Luigi Bersani, who won the Chamber of Deputies by a thin margin, fails to muster a majority in the Senate. Comedian Beppe Grillo’s anti-austerity movement won more than 25 percent of the popular vote.

The yen fluctuated as investors weighed the timing of new monetary stimulus in Japan. In Japan, Prime Minister Shinzo Abe aims to submit his nominations for the next Bank of Japan governor and two deputies tomorrow, his Chief Cabinet Secretary Yoshihide Suga told reporters today.

EUR/USD: during the Asian session, the pair traded in the range of $1.3040-70.

GBP/USD: during the Asian session the pair fell below $1.5100.

USD/JPY: during the Asian session the pair was trading around the level of Y92.00.

Wednesday sees another full calendar on both sides of the Atlantic, starting with the release of the German January import prices at 0700GMT. At 0710GMT, the German March GfK consumer climate numbers will be released. This will be followed by the release of the French Feb consumer confidence numbers at 0745GMT. At 0830GMT, the ECB's Chief Economist Peter Praet is slated to give a speech in Frankfurt. Italy is back in focus at 0900GMT, with the release of the February ISTAT business survey. Also at 0900GMT, the ECB releases the January M3 data. US durable goods data follows at 1330GMT, then US housing data at 1500GMT.  BOE Bean due to speak at 0920GMT ahead of Q4 GDP first revision at 09030GMT.

Change % Change Last

Oil $92.53 -0.10 -0.11%

Gold $1,614.00 -1.50 -0.09%

Change % Change Last

Nikkei 225 11,398.81 -263.71 -2.26%

Hang Seng 22,519.69 -300.39 -1.32%

S&P/ASX 200 5,003.57 -52.20 -1.03%

Shanghai Composite 2,293.34 -32.48 -1.40%

CAC 40 3,621.92 -99.41 -2.67%

DAX 7,597.11 -176.08 -2.27%

Dow +116.26 13,900.43 +0.84%

Nasdaq +13.4 3,129.65 +0.43%

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3060 -0,02%

GBP/USD $1,5122 -0,26%

USD/CHF Chf0,9317 -0,04%

USD/JPY Y91,97 +0,18%

EUR/JPY Y120,13 +0,17%

GBP/JPY Y139,08 -7,30%

AUD/USD $1,0227 -0,27%

NZD/USD $0,8247 -0,96%

USD/CAD C$1,0259 -0,01%

00:30 Australia Construction Work Done Quarter IV +1.7% +1.5%

07:00 Switzerland UBS Consumption Indicator January 1.34

07:00 Germany Gfk Consumer Confidence Survey March 5.8 5.9

07:45 France Consumer confidence February 86 86

08:00 Switzerland KOF Institute Economic Forecast February 1.05 1.00

09:00 Eurozone M3 money supply, adjusted y/y January +3.3% +3.2%

09:20 United Kingdom MPC Member Bean Speaks

09:30 United Kingdom Business Investment, q/q (Preliminary) Quarter IV +5.1%

09:30 United Kingdom GDP, q/q (Revised) Quarter IV -0.3% -0.3%

09:30 United Kingdom GDP, y/y (Revised) Quarter IV 0.0% 0.0%

10:00 Eurozone Industrial confidence February -13.9 -13.1

10:00 Eurozone Business climate indicator February -1.09 -1.02

13:30 U.S. Durable goods orders ex defense January +1.2% -3.4%

13:30 U.S. Durable Goods Orders January +4.6% -4.1%

13:30 U.S. Durable Goods Orders ex Transportation January +1.3% +0.3%

15:00 U.S. Fed Chairman Bernanke Testifies

15:00 U.S. Pending Home Sales (MoM) January -4.3% +1.7%

15:30 U.S. Crude Oil Inventories +4.1

17:30 Eurozone ECB President Mario Draghi Speaks

21:45 New Zealand Building Permits, m/m January +9.4% -2.0%

23:15 Japan Manufacturing PMI February 47.7

23:50 Japan Industrial Production (MoM) (Preliminary) January +2.4% +1.6%

23:50 Japan Industrial Production (YoY) (Preliminary) January -7.9% -4.8%