European session: the euro fluctuates

Data

00:30 Australia RBA Meeting's Minutes February

10:00 Germany ZEW Survey - Economic Sentiment February 31.5 35.3 48.2

10:00 Eurozone ZEW Economic Sentiment February 31.2 35.5 42.4

10:00 Eurozone Construction Output, m/m December -0.4% -1.7%

10:00 Eurozone Construction Output, y/y December -4.7% -4.8%

The yen rose against the dollar and euro, which was the first time in three days, as the Finance Minister Taro Aso said the government did not intend to buy foreign bonds. The yen retreated from the lowest level since May 2010 against the U.S. currency, as his comments were opposed to the statement of Prime Minister Shinzo Abe, who said that the purchase of foreign bonds is one of many options, which should help to monetary policy.

The Australian dollar rose after the central bank signaled that further interest rate cut is possible, but there is no such intention.

Recall that the Reserve Bank of Australia cut interest rates by 1.75 percentage points from November 2011, and the decline he describes now as "significant." The minutes of the meeting of February 5, the Reserve Bank of Australia said that he saw the first signs of reducing the impact of the economy. While there is the possibility of further rate cuts due to inflation contained, the RBA stated the need to see clear signs of further slowdown in the economy. RBA also said that the rate in February remained unchanged, as "monetary policy has been accommodative due to a significant easing policy the last 15 months, and the challenge continues to work on the economy.

The pound rose sharply against the euro, but it is now lost all his positions in the light of the fact that many market participants are waiting for the release of the unemployment rate, which will be presented tomorrow. Note that according to the forecasts of economists, the unemployment rate fell in January, while stimulating increased optimism that the economy is recovering. UK currency declined against the dollar, because tomorrow will also be minutes of the meeting of the Bank of England. Note also that the falling currency is also related to the fact that the representative of the Bank of England's Martin Weale approved lowering rates, saying that it can enhance exports.

EUR / USD: during the European session, the pair rose to high of $ 1.3375, and set the minimum at $ 1.3327

GBP / USD: during the European session, the pair rose to high of $ 1.5502, but is now trading near the lows at $ 1.5463

USD / JPY: during the European session is reduced, and is now trading at Y93.53

At 13:30 GMT, Canada will present data on the volume of transactions with foreign securities, as well as changes in the volume of wholesale trade in December. At 21:45 GMT New Zealand will publish a Producer Price Index and the Producer Price Index for Q4. At 23:00 GMT Australia will release the index of leading economic indicators from the Conference Board and the index of leading economic indicators from the Melbourne Institute in December. At 23:50 GMT, Japan will report on the total balance of trade in goods, the adjusted balance of trade in goods, changes in the volume of exports of goods and changes in the volume of imports of goods in January.