American focus : the euro exchange rate rose slightly against the U.S. dollar

Euro traded upward against the dollar, but gradually retreating from its maximum. Impact on the dynamics of the data for Germany and the United States . As it became known , exports fell by 1.3 percent in January , this is the second drop in three months and the largest since May 2013. Predicted drop in exports by 0.5 percent after expanding by 2.2 percent in January. On the other hand , imports increased by 0.4 percent, faster than the 0.1 percent growth economists estimate . As a result, the trade surplus fell to a seasonally adjusted to 15.7 billion euros from 17.3 billion euros in January.

As for U.S. data , they showed that wholesale inventories in the U.S. rose at a slower pace in February than in the previous month , which may support predictions that the improvement does not help the economy in the first quarter . According to the report , the volume of wholesale inventories rose 0.5 percent in February after increasing 0.8 percent in January , which was revised up from 0.6 percent. Added that the increase in February was in line with economists' expectations . The data also showed that in February sales at wholesalers jumped 0.7 percent after falling 1.8 percent in January. Given the pace of sales in February will need about 1.19 months to clear the shelves of inventory. Recall that in January this ratio was also at this level.

The dynamics also affect expectations publication of the minutes of the meeting FOMC. Importance of this event overblown absence of other key events. Most likely , the report will disappoint those who expect the hawkish attitude of Yellen . However, it probably will reflect the Fed 's commitment folding program , which should last until the end of 2014 in the absence of any unexpected events.

The British pound traded almost unchanged against the dollar, disregarding the trade balance data . In the UK, the visible trade deficit narrowed in February , while the surplus on services decreased compared with the previous month , data showed on Wednesday the Office for National Statistics . The merchandise trade deficit fell to 9.1 billion pounds in February from 9.5 billion pounds in January. Deficit , as was expected to fall to 9.3 billion pounds. Exports of goods decreased by 1.6 percent in January to 23.5 billion pounds. In turn, imports fell by 2.2 percent to 32.6 billion pounds. Meanwhile, the services surplus amounted to 7 billion pounds compared with the January estimate of 7.3 billion pounds of surplus . Combined deficit on trade in goods and services decreased slightly to 2.1 billion pounds from 2.2 billion pounds in January.