Forex: Wednesday’s review

EUR/USD: yesterday the pair raised, updated a monthly high.

GBP/USD: yesterday in first half of day the pair fell, however rose on positive territory later.

USD/JPY: yesterday the pair holds about level Y81.30.

The German flash HICP data will follow state releases but scheduled events start at 0730GMT when ECB President Mario Draghi gives the opening speech at a conference entitled "Financial integration and stability: towards a more resilient single EU financial market", which

is taking place in Frankfurt. ECB Vice President Vitor Constancio then presents a report on Financial Integration at the same event at 0745GMT. Italy releases the ISTAT business survey at 0900GMT at the same time as the EMU economic sentiment survey and business climate indicator. UK data includes the BBA Bank Lending Report at 0830GMT, which includes mortgage approvals data. UK data then continues at 1000GMT with the CBI Distributive Trades Survey where the reported sales balance is expected to improve to a reading of 7. US data starts at 1230GMT when initial jobless claims are expected to fall 11,000 to 375,000, holding virtually steady in the previous week. US data continues at 1400GMT with NAR Pending Home Sales. Later on, at 2000GMT, US Treasury Secretary Tim Geithner speaks to the Commonwealth Club on "U.S. and Global Economies Ahead of the 2012 U.S.-China Strategic nd Economic Dialogue," in San Francisco, while late data at the same time sees money supply data released.