New Zealand’s Interest Rate has left unchanged at 2.50% as expected and the dovish comments of RBNZ had this effect and weakened the NZD. Today we have a Swiss decision at 12:00. As a result of the recently published data it is however likely to adjust SNB’s inflation and economic outlook slightly upwards.
The final UK budget for the fiscal year 2010/11 will be presented on 24th March. Weak economic data such as yesterday’s industrial production are therefore particularly uncomfortable. As a result the period of weakness in GBP is likely to continue and the 0.9150 mark in EUR-GBP is likely to be re-challenged.
Daily Trends & Charts
Watch the Fundamentals!(GMT time)
AU Home Loans: -7.9% vs. 2.1% exp.
Chinese Trade Balance: 7.6B as exp.
UK Manufacturing Production: -0.9% vs. 0.3%.
NZ Interest Rate Statement: 2.50% as exp.
AU Unemployment Rate: 5.3% as exp.
Chinese Industrial Production: 12.8% vs. 19.5% exp.
Swiss Interest Rate Statement at 13:00.
Canadian Trade Balance at 13:30.
US Trade Balance at 13:30.
US Unemployment Claims at 13:30.
NZ Retail Sales at 21:45.
Canadian Unemployment Rate at 12:00.
US Core Retail Sales at 13:30.
US Consumer Sentiment at 14:55.
“Trends for today” is presented by Danny Spivak
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