European session: the euro fluctuates

Data
00:01 United Kingdom BRC Retail Sales Monitor y/y February +1.9% +0.9% +2.7%
00:30 Australia Retail sales (MoM) January -0.2% +0.4% +0.9%
00:30 Australia Retail Sales Y/Y January +2.3% +3.0%
00:30 Australia Current Account, bln Quarter IV -14.9 -15.2 -14.7
01:30 Japan Labor Cash Earnings, YoY January -1.4% -0.3% +0.7%
01:45 China HSBC Services PMI February 54.0 52.1
03:30 Australia Announcement of the RBA decision on the discount rate March 3.00% 3.00% 3.00%
03:30 Australia RBA Rate Statement March
08:50 France Services PMI (Finally) February 42.7 42.7 43.7
08:55 Germany Services PMI (Finally) February 54.1 54.1 54.7
09:00 Eurozone Services PMI (Finally) February 47.3 47.3 47.9
09:00 Eurozone ECOFIN Meetings March
09:30 United Kingdom Purchasing Manager Index Services February 51.5 51.5 51.8
10:00 Eurozone Retail Sales (MoM) January -0.8% +0.3% +1.2%
10:00 Eurozone Retail Sales (YoY) January -3.4% -3.0% -1.3%

The euro exchange rate fluctuates after data presented Markit Economics, showed that business activity in the euro zone services sector declined in February compared with January, adding evidence that the region's economy will continue to be liquefied for the first three months of the year, which can be the fourth consecutive quarterly decline. According to the report, the index of business activity in the services sector fell last month to the level of 47.9, up from 48.6 in January, indicating that activity in the manufacturing sector of the currency bloc and the services sector continues to decline as the value of this the index is below 50.
In addition, it was reported that retail sales rose by 1.2% on a monthly basis, fully compensate for the decline of 0.8% in December, which was revised from 0.9% decline. Note that according to the average estimates of experts, retail sales should grow by only 0.3%. The data also showed that the sale of food, beverages and tobacco increased by 0.8%, while the sale of non-food products, except automotive fuel, increased by 2%.
Meanwhile, the European Union, the volume of retail sales increased in January by 0.9%, after falling 0.7 percent the previous month.
The yen rose against the dollar, registering with the second-session Strengthening row, amid speculation that the two-day meeting, which begins tomorrow, Bank of Japan's policy to refrain from increasing stimulus.
The Japanese currency rose against all but three of the 16 major currencies, even after a candidate for the position of Deputy Governor of the Bank of Japan Iwata said in Parliament that the central bank should expand its monetary base and buying bonds with longer maturities.
Australia's currency rose against the dollar after the Reserve Bank of Australia decided to leave its key interest rate unchanged at 3 per cent, while stressing that the current outlook for inflation may indicate further monetary easing, which will be used to sustaining demand. In addition, the head of the RBA noted that the Council considers that the inflation rate is likely to be in line with the target, and the growth will be slightly below trend over the next year, so you need accommodative monetary policy. Today's data also showed that the central bank has kept its assessment that inflation will match the 3.2 percent target range in the next one to two years.
The pound rose against the dollar and the euro after a report showed the UK service sector expanded in February, showing a more rapid pace than analysts had forecast that downgraded the speculation as to whether the Bank of England will increase the incentive program.

EUR / USD: during the European session, the pair rose to high of $ 1.3075, and then fell to $ 1.3014

GBP / USD: during the European session, the pair rose to $ 1.5200, but then fell to $ 1.5148

USD / JPY: during the European session is growing, and is now trading at Y93.17