Past events:
* USD ISM Manufacturing PMI out at 56.5 versus expected 57.7, prior 58.4
* GBP British Manufacturing PMI out at 56.6, versus expected 56.3, prior 56.6
* EUR unemployment rate out at 9.9%, versus expected 10.1%, prior 9.9%
* CAD GDP m/m out at 0.6%, versus expected 0.4%, prior 0.4%
* AUD Cash Rate out at 4.0%, versus expected 4.00%, prior 3.75%
* AUD Building Approvals m/m out at -0.7% versus expected 0.1%, prior 2.2%
* AUD Retail sales m/m out at 1.2% versus expected 0.8%,prior -0.7%
Upcoming Events:
* GBP Halifax HPI m/m (out between March 2nd to 5th)
* GBP Construction PMI (0930GMT)
* CAD overnight rate (1400GMT)
* GBP Nationwide Consumer Confidence (tomorrow 0001GMT)
* AUD GDP q/q (tomorrow 0030GMT)
* EUR Minimum Bid Rate (Thursday 1245GMT)
* GBP Official Bank Rate (Thursday 1200GMT)
The Euro continues to rally on the back of an anticipated bailout for the Greek debt crisis. Olli Rehn, the EU Commissioner for Economic and Monetary Affairs visited Greece and asked the government to announce new measures in the coming days.
Following Mr. Rehn’s comments, the Euro appreciated slightly against the USD, gaining 0.15% to reach a $1.35930. While reports suggest that German banks might help Greece by buying more Greek bonds, German Chancellor Angela Merkel denied the existence of such a plan, saying that Greece needs to sort out their own deficit problems.
Greek officials are expecting to seal a deal by Friday, when Greek Prime Minister George Papandreou is to meet with Angela Merkel in Berlin – the meeting will determine if what if any, Europe-wide assistance Greece receives.
The U.S. dollar surged against most other major currencies on Monday, after data showed the U.S manufacturing sector grew in February, although at a slower rate than expected. Manufacturing expanded in February for its seventh consecutive month, confirming that the world’s largest economy is emerging rapidly from the recession.
The greenback was up against the pound and euro, with GBP/USD plunging 2.04% to hit 1.4930 and EUR/USD shedding 0.64% to hit 1.3536. It also rose against the yen and Swiss franc, with USD/JPY rising 0.33% to reach 89.16 and USD/CHF gaining 0.72% to hit 1.0813.
* USD ISM Manufacturing PMI out at 56.5 versus expected 57.7, prior 58.4
* GBP British Manufacturing PMI out at 56.6, versus expected 56.3, prior 56.6
* EUR unemployment rate out at 9.9%, versus expected 10.1%, prior 9.9%
* CAD GDP m/m out at 0.6%, versus expected 0.4%, prior 0.4%
* AUD Cash Rate out at 4.0%, versus expected 4.00%, prior 3.75%
* AUD Building Approvals m/m out at -0.7% versus expected 0.1%, prior 2.2%
* AUD Retail sales m/m out at 1.2% versus expected 0.8%,prior -0.7%
Upcoming Events:
* GBP Halifax HPI m/m (out between March 2nd to 5th)
* GBP Construction PMI (0930GMT)
* CAD overnight rate (1400GMT)
* GBP Nationwide Consumer Confidence (tomorrow 0001GMT)
* AUD GDP q/q (tomorrow 0030GMT)
* EUR Minimum Bid Rate (Thursday 1245GMT)
* GBP Official Bank Rate (Thursday 1200GMT)
The Euro continues to rally on the back of an anticipated bailout for the Greek debt crisis. Olli Rehn, the EU Commissioner for Economic and Monetary Affairs visited Greece and asked the government to announce new measures in the coming days.
Following Mr. Rehn’s comments, the Euro appreciated slightly against the USD, gaining 0.15% to reach a $1.35930. While reports suggest that German banks might help Greece by buying more Greek bonds, German Chancellor Angela Merkel denied the existence of such a plan, saying that Greece needs to sort out their own deficit problems.
Greek officials are expecting to seal a deal by Friday, when Greek Prime Minister George Papandreou is to meet with Angela Merkel in Berlin – the meeting will determine if what if any, Europe-wide assistance Greece receives.
The U.S. dollar surged against most other major currencies on Monday, after data showed the U.S manufacturing sector grew in February, although at a slower rate than expected. Manufacturing expanded in February for its seventh consecutive month, confirming that the world’s largest economy is emerging rapidly from the recession.
The greenback was up against the pound and euro, with GBP/USD plunging 2.04% to hit 1.4930 and EUR/USD shedding 0.64% to hit 1.3536. It also rose against the yen and Swiss franc, with USD/JPY rising 0.33% to reach 89.16 and USD/CHF gaining 0.72% to hit 1.0813.