Forex: Tuesday’s review

The yen rose against the dollar, recording with the first fortified in the past five days as an opposition representative said that his party would oppose a candidate for the position of Deputy Governor of the Bank of Japan Iwata, which investors view as the one who stands for easing monetary policy .

The euro fell against the dollar, losing previously won positions on the background that the German Finance Minister Schaeuble said that the lower house

Bundestag may decide to Cyprus next week. The head of the Bundesbank, Weidmann said that inflation remains under control, which was yet

another confirmation that the ECB may decide to further stimulation. We also add that report Destatis showed that the annual inflation rate in Germany was 1.5% in February against 1.7% in January. The result coincided with forecasts and was the lowest since November 2010. In monthly terms, rose by 0.6% in February against a 0.5% decline in January, as expected.

The pound reached its weakest level since June 2010 against the dollar after data showed that industrial production unexpectedly declined.

National Bureau of Statistics of the United Kingdom reported that industrial production in January fell by 1.2% compared to the previous month and by 2.9% compared with the same period last year. Reduction in industrial production was due to stop production at another oil field of the North Sea, which damaged oil and gas production, increasing the risk that the economy enters a recession in the third in five years.

Published data were weaker than the forecast of economists, who had expected an increase of 0.1% compared to the previous month and a decrease of 1.1% compared to the same period last year.

The Canadian dollar traded in a range against its U.S. counterpart on concern that strong employment data, which were presented last week, will not be able to put the economy on a sustainable growth path. Recall that, by the end of February the number of employees in Canada rose by a whopping 50,700 people, which was much higher than most analysts' forecasts of 7.8 thousand Note also that such a rebound more than offset the decline of 21,900 jobs, which was recorded in the yanvare.Krome order to add that, compared to the same period last year, employment in Canada has increased by 336,200, or 1.9%. Note that the main driving force that has helped to significantly increase the number of jobs was the service sector, which accounts for the bulk of the Canadian economy. Note that in this area the number of workers increased by 59,300 jobs.