The US dollar traded without significant changes in the run-up to the two-day meeting of the Operations Committee on the open market the US Federal Reserve, which will end on Wednesday. According to the survey, economists believe the Fed will refuse the word “patience” in a statement. Recall investors fear that the regulator may increase the rate on improved US macroeconomic indicators, in particular, the labor market situation. Initially, the question of the rate increase was seen in June. These fears were strengthened after the publication of the Ministry of Labour of the country strong statistical data on unemployment in February. Decreased to 5.5% from 5.7% in January. The number of jobs in the non-agricultural sector grew by 295,000. The analysts predicted a decline in unemployment to 5.6% growth in the number of jobs by 235 thousand.
The yen strengthened slightly after the Central Bank of Japan kept current supersoft monetary policy aimed at increasing the controlled inflation rate to 2% per year. To achieve its objective, the Bank of Japan intends to expand the monetary base in the country at 80 trillion yuan annually through purchases of government bonds and other securities. The Bank of Japan also has not changed its assessment of the state of the Japanese economy, noting that it “continues a gradual recovery“.
The euro traded restrained after yesterday’s growth associated with the performance of the European Central Bank Mario Draghi. On Monday, the banker said that the economic recovery in the eurozone is strengthened, in part due to stimulus measures taken by the central bank. Last week, the European Central Bank began to acquire large amounts of government bonds and other debt instruments under the program, known as quantitative easing.
|EUR / USD|
|GBP / USD|
|USD / JPY|
At 10:00 GMT Germany will index of sentiment in the business environment and the index of the current situation of the ZEW institute in March. At the same time, the euro zone will present sentiment index in the business environment of the ZEW institute in March and the consumer price index for February. At 12:30 GMT, Canada announced the change of volume production deliveries in January, and the US will report on the volume of building permits issued in February and the number of bookmarks of new foundations for February. At 14:00 GMT US was to publish an index of NAHB housing market in March. At 21:45 GMT New Zealand reported on the balance of the current account of balance of payments for the 4th quarter. Then, 23:50 GMT Japan will release data on total foreign trade balance for February.