Foreign exchange market. European session: the Canadian dollar traded lower against the U.S. dollar after the weaker-than-expected Canadian wholesales data

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

05:00 Japan BoJ monthly economic report

09:30 United Kingdom Average earnings ex bonuses, 3 m/y January +1.7% +1.6%

09:30 United Kingdom Average Earnings, 3m/y January +2.1% +2.2% +1.8%

09:30 United Kingdom Claimant Count Rate February 2.5% 2.4% 2.4%

09:30 United Kingdom Claimant count February -39.4 Revised From -38.6 -31.0 -31.0

09:30 United Kingdom ILO Unemployment Rate February 5.7% 5.6% 5.7%

09:30 United Kingdom Bank of England Minutes

10:00 Eurozone Trade balance unadjusted January 23.9 7.9

10:00 Switzerland Credit Suisse ZEW Survey (Expectations) March -73.0 -37.9

12:30 United Kingdom Annual Budget Release

12:30 Canada Wholesale Sales, m/m January +2.8% Revised From +2.5% +2.1% -3.1%

The U.S. dollar traded mixed against the most major currencies ahead of the Fed's monetary policy decision. Investors speculate that the Fed might remove "patient" from its outlook for monetary policy.

The euro traded mixed against the U.S. dollar after the weak trade data from the Eurozone. Eurozone's unadjusted trade surplus fell to €7.9 billion in December from €23.9 billion in November. November's figure was revised down from a surplus of €24.3 billion.

Eurostat said that seasonally adjusted numbers were not available due to technical problems.

The British pound dropped against the U.S. dollar after the mostly weaker-than-expected labour market data from the U.K. The U.K. unemployment rate remained unchanged at 5.7% in the November to January quarter. Analysts had expected the unemployment rate to decline to 5.6%.

The claimant count decreased by 31,000 people in February, in line with expectations, after a decrease of 39,400 people in January. January's figure was revised from a decline of 38,600.

Average weekly earnings, excluding bonuses, climbed by 1.6%.

Average weekly earnings, including bonuses, rose by 1.8%.

The Bank of England (BoE) released its last meeting minutes. All members voted to keep the central bank's monetary policy unchanged.

The Canadian dollar traded lower against the U.S. dollar after the weaker-than-expected Canadian wholesales data. Wholesale sales dropped 3.1% in January, missing expectations for a 2.1% gain, after a 2.8% rise in December. December's figure was revised up from a 2.5% increase.

Sales declined in four of seven subsectors, driven by a in the sale of motor vehicles and parts.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair decreased to $1.4633

USD/JPY: the currency pair fell to Y121.10

The most important news that are expected (GMT0):

18:00 U.S. Fed Interest Rate Decision 0.25% 0.25

18:00 U.S. FOMC Economic Projections

18:00 U.S. FOMC Statement

18:30 U.S. Federal Reserve Press Conference

21:45 New Zealand GDP q/q Quarter IV +1.0% +0.8%

21:45 New Zealand GDP y/y Quarter IV +3.2%