European session: the euro declined

06:30 France GDP, q/q (preliminary) IV quarter +0.1% -0.2% -0.3%

06:30 France GDP, Y/Y (preliminary) IV quarter 0.0% -0.2% -0.3%

07:00 Germany GDP (QoQ) (preliminary) IV quarter +0.2% -0.5% -0.6%

07:00 Germany GDP (wda) (YoY) (preliminary) IV quarter +0.4% +0.2% +0.4%

07:45 France Non-Farm Payrolls (preliminary) IV quarter -0.3% -0.2% -0.2%

09:00 Eurozone ECB Monthly Report February

10:00 Eurozone GDP (QoQ) (preliminary) IV quarter -0.1% -0.4% -0.6%

10:00 Eurozone GDP (YoY) (preliminary) IV quarter -0.6% -0.7% -0.9%

The euro fell sharply against the dollar after the release of the preliminary report on the euro area GDP, were worse than expected. In the 4th quarter Eurozone GDP has accelerated the rate of decline from the preliminary -0.6% to -0.9% in annual terms compared with an expected 0.7%. In the quarterly equivalent index fell by 0.6% vs. -0.4%.

In the 4th quarter of 2012, gross domestic product / GDP / eurozone contracted at the fastest pace in nearly four years. Weakening global economic activity and the deep recession, recorded in the southern eurozone countries had a negative impact on these engines of economic growth, such as Germany and France.

In Germany, in the 4 th quarter GDP fell by 0.6% q / q St. after growth of 0.2% in the previous quarter and the forecast of -0.5%. The annual equivalent of NSW. rose by 0.1%, slowing down against the result of +0.4% in Q3. and fell short of the forecast +0.2%. In France, the economy contracted by 0.3% q / q. In Italy, the economy has picked up the baton and declined in Q4. by 0.9% q / q vs. -0.6%. The annual rate fell by 2.7% against prev. -2.4%.

The ECB has warned that strengthening of the euro could reduce the rate of inflation for the target mark of the Bank. As an upside inflation risks were identified increase in administered prices and indirect taxes, and the price of oil, while the downside risks to the Bank considered the economic slowdown and the strengthening of the single currency, noted recently. The ECB expects the region's economy will start to recover later this year.

The yen is trading sideways against the dollar, as investors reacted to the decision by the Bank of Japan kept monetary policy unchanged and consider further support for the Japanese economy in the coming months due to the ongoing recession in the country. Also today, the data released by Japan, which recorded that the economy is in the 4th quarter. 2012 was not able to get out of recession. In annual terms, the Japanese economy on the basis of the last three months of 2012 decreased by 0.4%. Analysts had expected with growth of 0.1% compared to the third quarter and 0.4% year on year.

EUR / USD: during the European session the pair fell to the low of $ 1.3314

GBP / USD: during the European session the pair fell to the low of $ 1.5493

USD / JPY: during the European session the pair is trading in the range of Y93.08 - 72

In the U.S. at 13:30 GMT will the number of initial claims for unemployment insurance, the number of repeated applications for unemployment benefits. At 21:45 GMT New Zealand will publish the change in retail trade, including excluding vehicle sales for the 4th quarter.