European session: the dollar strengthened slightly

Data
00:30 Australia Building Permits, m/m January -4.4% +2.8% -2.4%
00:30 Australia Building Permits, y/y January +9.3% +8.1% +9.9%
00:30 Australia ANZ Job Advertisements (MoM) February -0.9% +3.0%
00:30 Australia Company Operating Profits Quarter IV -2.9% -0.9% -1.0%
09:00 Eurozone Eurogroup Meetings March
09:30 Eurozone Sentix Investor Confidence March -3.9 -4.5 -10.6
09:30 United Kingdom PMI Construction February 48.7 49.2 46.8
10:00 Eurozone Producer Price Index, MoM January -0.2% +0.5% +0.6%
10:00 Eurozone Producer Price Index (YoY) January +2.1% +1.9% +1.9%
13:00 U.S. FOMC Member Yellen Speaks March

The euro fell, approaching its lowest level in nearly three months against the dollar, which was associated with the failure to form a coalition of Italian politics. Meanwhile, the pressure on the currency to provide data on the upcoming Italian GDP for the fourth quarter, which will show that the region's economy declined in the fourth quarter of 2012.
We also add that the final negotiations between Republicans and Democrats on the budget sequestration ended on Saturday, and, unfortunately, a long-awaited compromise policy is not found, Obama signed a bill to reduce government spending by $ 85 billion by the end of this year. President immediately tried to convince some of the apocalypse will happen after that.
The yen rose against all but one of its 16 major counterparts after the Chinese CSI 300 Index fell to the lowest in two years. In addition, the yen strengthened even after the candidate to be the next Governor of the Bank of Japan Haruhiko Kuroda, has promised a more loose monetary policy to overcome deflation in the economy. Kuroda, submitted to Prime Abe said in parliament that the Bank of Japan will do everything possible to end the 15-year period of deflation in Japan. However, the currency could not hold the earned position, dropping to their lowest levels of the session.
The Australian dollar fell to near an eight-month low against the U.S. dollar, as the data presented today showed that the number of permits issued for the construction or reconstruction of homes and apartments fell in January by 2.4%, compared with a revised downward fall by 1 , 7% in December. Note that according to the average forecast in January the value of this index should increase by 2.8%.
The pound strengthened against the euro amid concern that the formation of the Government of Italy may be delayed, and will have a negative impact on the recovery of 17 countries the currency bloc. In addition, a report released today showed that house prices in the UK rose in February, registering the first increase in nine months. Also today it was announced that the business activity index fell to the end of last month to the level of 46.8, up from 48.7 in January. Note that according to the average analyst estimate the value of this indicator would grow to the level of 49.2. Recall that the value of the indicator below 50 suggests contraction in the sector. The report also said that total production has fallen sharply, demonstrating the highest rate of decline over the past 3 years. Meanwhile, it was reported that the number of new orders declined, while accelerating its pace, while the so-sector employment showed a slight increase.

EUR / USD: during the European session the pair fell to the low of $ 1.2980

GBP / USD: during the European session the pair trade the range $ 1.4995-$ 1.5060

USD / JPY: during the European session, the pair rose to Y93.69