Forex News from InstaForex

CHINA CONSUMER PRICES UNCHANGED IN DECEMBER

Consumer prices in China were flat on month in December, the National Bureau of Statistics said on Thursday.

That beat expectations for a decline of 0.1 percent following the 0.2 percent drop in November.

On a yearly basis, inflation rose 1.8 percent - in line with expectations and up from 1.6 percent in the previous month.

The bureau also said that producer prices sank 0.7 percent on year versus expectations for a fall 0.1 percent after slipping 1.3 percent a month earlier.

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US stocks closed higher, Dow Jones up 0.64%

At the close on the New York Stock Exchange, the Dow Jones rose 0.64% to hit a monthly high, the S&P 500 index rose 0.34%, the NASDAQ Composite index rose 0.64%.

The leading performer among the components of the Dow Jones index today was Walt Disney Company, which gained 3.48 points or 3.61% to close at 99.81. Salesforce Inc rose 4.70 points or 3.24% to close at 149.60. Boeing Co rose 6.29 points or 3.02% to close at 214.32.

Shares of Coca-Cola Co were the leaders of the fall, the price of which fell by 0.80 points (1.29%), ending the session at 61.21. Walgreens Boots Alliance Inc was up 1.24% or 0.46 points to close at 36.66, while Walmart Inc was down 0.90% or 1.32 points to close at 144. .81.

The top gainers among the S&P 500 index components in today's trading were American Airlines Group, which gained 9.71% to 16.83, United Airlines Holdings Inc, which gained 7.52% to close at 51.30, and Cognizant Technology Solutions Corp Class A shares, which gained 5.85% to close the session at 65.10.

The least gainers were Charles River Laboratories, which shed 5.95% to close at 232.25. Bio-Techne Corp lost 5.14% to end the session at 82.17. Quotes of Illumina Inc decreased in price by 5.05% to 193.75.

Leading gainers among the components of the NASDAQ Composite in today's trading were Arrival Vault USA Inc, which rose 100.00% to hit 0.54, Akerna Corp, which gained 66.67% to close at 1.65, and also shares of Moxian Inc, which rose by 73.32%, ending the session at around 1.04.

The leading gainers were Oramed Pharmaceuticals Inc, which shed 76.46% to close at 2.54. Atlis Motor Vehicles Inc lost 35.32% to end the session at 6.52. Quotes of Universe Pharmaceuticals Inc decreased in price by 25.30% to 0.90.

On the New York Stock Exchange, the number of securities that rose in price (2353) exceeded the number of those that closed in the red (733), while quotes of 91 shares remained virtually unchanged. On the NASDAQ stock exchange, 2633 companies rose in price, 1063 fell, and 181 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 10.72% to 18.83, hitting a new 6-month low.

Gold futures for February delivery added 1.17%, or 22.05, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 1.20%, or 0.93, to $78.34 a barrel. Futures for Brent crude for March delivery rose 1.50%, or 1.24, to $83.91 a barrel.

Meanwhile, in the Forex market, EUR/USD rose 0.91% to 1.09, while USD/JPY shed 2.43% to hit 129.24.

Futures on the USD index fell 0.94% to 101.96.

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EUROPEAN ECONOMIC NEWS PREVIEW: UK LABOR MARKET DATA DUE

Labor market statistics from the UK and economic sentiment from Germany are the top economic news due on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is seen unchanged at 3.7 percent in three months to November.

In the meantime, Destatis publishes Germany's final consumer and harmonized prices for December. The flash estimates showed that consumer price inflation eased to 8.6 percent from 10.0 percent in November.

At 4.00 am ET, Italy's Istat is scheduled to issue consumer and harmonized prices for December. Inflation is seen at 11.6 percent, unchanged from the flash estimate and down from 11.8 percent in November.

At 5.00 am ET, Germany ZEW economic confidence survey results are due. Economists forecast the economic sentiment index to improve to -15 in January from -23.3 in December.

At 6.00 am ET, consumer prices data from Ireland and producer prices from Portugal are due.

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US stocks closed higher, Dow Jones up 0.76%

At the close of the New York Stock Exchange, the Dow Jones rose 0.76%, the S&P 500 rose 1.19%, and the NASDAQ Composite rose 2.01%.

Shares of Intel Corporation led the way among the components of the Dow Jones index today, up 1.05 points or 3.59% to close at 30.27. Salesforce Inc rose 4.62 points or 3.05% to close at 155.87. Apple Inc rose 2.35% or 3.24 points to close at 141.11.

The least gainers were Procter & Gamble Company, which shed 1.92 points or 1.34% to end the session at 141.05. Verizon Communications Inc was up 0.93% or 0.37 points to close at 39.63 while Amgen Inc was down 0.86% or 2.27 points to close at 260. 97.

Leading gainers among the components of the S&P 500 in today's trading were Advanced Micro Devices Inc, which rose 9.22% to hit 76.53, Western Digital Corporation, which gained 8.66% to close at 41.79. as well as shares of Tesla Inc, which rose 7.74% to end the session at 143.75.

The least gainers were Xylem Inc, which shed 7.95% to close at 101.42. Shares of SBA Communications Corp shed 3.55% to end the session at 286.27. Schlumberger NV fell 2.60% to 55.86.

Leading gainers among the components of the NASDAQ Composite in today's trading were Gbs, which rose 293.13% to hit 1.03, Helbiz Inc, which gained 109.13% to close at 0.43, and VERB TECHNOLOGY COMPANY INC, which rose 69.65% to end the session at 0.39.

The least gainers were Catalyst Pharmaceuticals Inc, which shed 29.04% to close at 14.76. Shares of Atlis Motor Vehicles Inc shed 25.11% to end the session at 3.40. Quotes of Ontrak Inc decreased in price by 21.23% to 0.83.

On the New York Stock Exchange, the number of securities that rose in price (2196) exceeded the number of those that closed in the red (841), while quotes of 122 shares remained virtually unchanged. On the NASDAQ stock exchange, 2362 companies rose in price, 1346 fell, and 201 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.20% to 19.81.

Gold futures for February delivery added 0.23%, or 4.35, to hit $1.00 a troy ounce. In other commodities, WTI crude for March delivery rose 0.01%, or 0.01, to $81.65 a barrel. Futures for Brent crude for March delivery rose 0.57%, or 0.50, to $88.13 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.15% to 1.09, while USD/JPY rose 0.84% to hit 130.65.

Futures on the USD index rose by 0.01% to 101.79.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY IFO BUSINESS CONFIDENCE DUE

Business sentiment from Germany and producer prices from the UK are the top economic news due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics is scheduled to issue UK producer prices for December. Output price inflation is forecast to rise to 16.4 percent from 14.8 percent in November. Input price inflation is seen at 18.0 percent versus 19.2 percent in the previous month.

At 3.00 am ET, Spain producer price figures are due. In the meantime, Italy's Istat publishes non-EU foreign trade data.

At 4.00 am ET, Germany's ifo Institute publishes monthly business confidence survey results for January. The business sentiment index is seen at 90.2, up from 88.6 in December.

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Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Silver Commodity Asset, Thursday January 26, 2023

On the 4-hour chart of the Silver commodity asset, it appears that a hidden deviation has emerged between the price movement of Silver which is in a bearish channel and the Awesome Oscillator indicator which confirms that in the near future Silver has the potential to fall down to the 23,598-area level. 23,413 as the main target and level 23,165 as the next target to be tested but if on the way to the targets of these levels suddenly Silver is corrected upwards significantly breaking above level 24,105 then all the setups previously described will become invalid and automatically cancel by itself.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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UK CAR PRODUCTION FALLS 9.8% IN 2022, ELECTRIC VEHICLE OUTPUT AT RECORD

Car production in the United Kingdom declined sharply in the year 2022, as global chip shortages and structural changes hampered output along with weaker exports, while electric vehicle production hit a record high, data from the Society of Motor Manufacturers and Traders, or SMMT, showed on Thursday.

Total car production fell 9.8 percent on an annual basis. There were 775,014 units produced in 2022, down from 859,575 in 2021.

Demand from the domestic market increased 9.4 percent, while that from the foreign market plunged 14.0 percent in 2022.

Despite facing global challenges, UK factories produced a record number of electrical vehicles in 2022, totalling 234,066 units. This shows a 4.5 percent rise annually to represent almost a third of all car production.

In December, UK car production slumped 17

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Oil prices edge up, and Russia transfers record volumes on high seas

Oil is steadily rising in trading on Thursday amid expectations of increased demand. The easing of some quarantine restrictions in China promises the market a recovery in consumption this year, which supports the general optimism in the commodity sector.

Brent crude for March delivery was at $87.31 per barrel on the London ICE Futures Exchange by 17:39 London time, up 1.38% on the previous trading day.

The West Texas Intermediate for March delivery was at $81.22 a barrel on the New York Mercantile Exchange, i.e., 1.33% above the final value of the previous trading session.

Oil prices were also supported by the report on crude oil stocks in the US, which was published on Wednesday. The U.S. Energy Information Administration (EIA) reported that the country's commercial crude oil inventories rose by 0.5 million barrels during the week ending Jan. 20. Analysts had expected reserves to grow by 0.97 million barrels.

Distillate inventories continued to fall by 0.51 million, reflecting the cold weather in the country. Demand for refined products in the US declined slightly over the week, but still remained at quite comfortable levels for current prices - 19.5 million barrels per day.

Meanwhile, Bloomberg reported that Russia has transshipped record volumes of Urals oil at sea. According to the agency, a total of 19 million barrels of crude oil are likely to be transshipped in January and December. The report said that volume of such crude is expected to hit a record 14 million barrels in January alone.

Recall that at the beginning of December, the European Union prohibited the maritime transport of Russian crude oil and petroleum products. In addition to that, following the G7 plan, EU countries agreed to cap the maritime trade of Russian oil at $60 per barrel. Such a sanction measure led to the fact that the cost of freight began to grow rapidly. Vessels that transship crude at $60 and below are obliged to use insurance under the current conditions.

Bloomberg reported that sources said a fifth supertanker, or very large crude carrier (VLCC), are involved in transshipment of Urals. Three vessels have already departed for Asia, and two more are waiting for departure at the Spanish transshipment point.

The EU, among other sanctions measures, is also studying the possibility of imposing a price limit of $100 per barrel on Russian diesel fuel.

The EU is also studying the possibility of setting a price ceiling on oil products from Russia that are traded at a discount, such as fuel oil, at $45.

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TAIWAN CONSUMER CONFIDENCE IMPROVES SLIGHTLY ON STRONGER EXPECTATIONS

Taiwan's consumer sentiment strengthened for the first time in five months, albeit modestly, at the start of the year, led by the improvement in the households' perception of the general economic outlook, survey data from the National Central University's Research Center for Taiwan Economic Development, or RCTED, showed Monday.

The consumer confidence index rose to 59.73 from 59.12 in December. Among the six sub-indicators of the survey, five increased and one declined.

The biggest improvement was witnessed in the measure reflecting the view on the domestic economic situation in the next six months. The corresponding index added 1.25 points to reach 76.85.

Sub-indicators for the personal economic situation in the next six months and that for the intentions to invest in the stock market also climbed from the previous month.

Households also turned positive regarding big purchases this month. The indicator for employment expectations in the next half year increased slightly.

Meanwhile, the sub-index for the assessment of the domestic inflation in the next six months declined.

The survey was conducted over the telephone from January 18 to 21 among 2,900 people over the age of 20 in Taiwan.

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SOUTH KOREA INDUSTRIAL OUTPUT SLIPS 2.9% IN DECEMBER

Industrial production in South Korea was down a seasonally adjusted 2.9 percent on month in December, Statistics Korea said on Tuesday.

That was roughly in line with forecasts following the upwardly revised 0.6 percent increase in November (originally 0.4 percent).

On a yearly basis, industrial production sank 7.3 percent - shy of forecasts for a decline of 5.1 percent following the upwardly revised 3.4 percent decline in the previous month (originally -3.7 percent).

The all-industry index was down 1.6 percent on month and 0.8 percent on year.

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U.S. WEEKLY JOBLESS CLAIMS REBOUND SLIGHTLY MORE THAN EXPECTED

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rebounded by slightly more than expected in the week ended February 4th.

The Labor Department said initial jobless claims rose to 196,000, an increase of 13,000 from the previous week's unrevised level of 183,000. Economists had expected jobless claims to inch up to 190,000.

The uptick came after jobless claims decreased in four out of the five previous weeks, falling to their lowest level since hitting 181,000 in the week ended April 23, 2022.

Meanwhile, the report said the less volatile four-week moving average edged down to 189,250, a decrease of 2,500 from the previous week's unrevised average of 191,750.

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CHINA CONSUMER PRICES RISE 0.8% ON MONTH IN JANUARY

Consumer prices in China were up 0.8 percent on month in January, the National Bureau of Statistics said on Friday.

That exceeded expectations for an increase of 0.7 percent following the flat reading in December.

On a yearly basis, consumer prices advanced 2.1 percent - missing forecasts for 2.2 percent but still higher than 1.8 percent in the previous month.

The bureau also said that producer prices dropped 0.8 percent on year versus expectations for a decline of 0.5 percent following the 0.7 percent drop a month earlier.

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SINGAPORE GDP GROWS 0.1% ON QUARTER, +2.1% ON YEAR IN Q4

Singapore's gross domestic product expanded a seasonally adjusted 0.1 percent on quarter in the fourth quarter of 2022, the Ministry of Trade and Industry said on Monday.

That missed expectations for an increase of 0.3 percent following the 0.8 percent gain in the third quarter.

On a yearly basis, GDP was up 2.1 percent - again shy of expectations for 2.3 percent following the upwardly revised 4.0 percent increase in the three months prior (originally 2.2 percent.

For all of 2022, GDP expanded 3.6 percent, slowing from 8.9 percent in 2021.

Upon the release of the data, the MTI maintained its growth forecast for 2023 at 0.5 to 2.5 percent.

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IRELAND CONSTRUCTION SECTOR LOGS CONTRACTION IN JANUARY

Ireland's construction sector posted another contraction in January albeit at a slower pace, survey results from S&P Global showed on Monday.

The BNP Paribas Real Estate Ireland Construction Total Activity Index rose to 47.7 from 43.2 in December.

However, a reading below 50.0 indicates contraction. The latest decrease was the softest since the current downturn first began last October.

The contraction was broad based across all three categories in January. Civil engineering posted the biggest fall in January as has been the case over the past eleven months. Meanwhile, commercial activity posted the softest fall, while housing activity decreased for the fourth month in a row.

Although firms struggled to secure orders, the decline in orders was the joint-weakest in the current ten-month sequence of decline. Further, survey showed that firms raised their workforce for the first time in three months.

Input price inflation continued to increase across a broad range of products. But the rate of inflation eased for the second consecutive month. At the same time, sub-contractor rates increased at an accelerated pace.

The outlook for activity over the coming 12 months brightened in January with sentiment rising to an 11-month high. Firms expect an improvement in demand conditions with new projects set to start in months ahead.

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JAPAN GDP RISES 0.2% IN Q2

Japan's gross domestic product expanded a seasonally adjusted 0.2 percent on quarter in the fourth quarter of 2022, the Cabinet Office said on Tuesday.

That was shy of expectations for an increase of 0.6 percent following the downwardly revised 0.3 percent contraction in the third quarter (originally -0.2 percent).

On an annualized basis, GDP added 0.6 percent - again missing forecasts for an increase of 2.0 percent following the downwardly revised 1.0 percent decline in the three months prior (originally -0.8 percent).

Capital expenditure was down 0.5 percent on quarter, missing forecasts for a fall of 0.2 percent, while private consumption matched expectations with an increase of 0.5 percent on quarter.

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EUROPEAN ECONOMIC NEWS PREVIEW: UK INFLATION DATA DUE

Consumer and producer prices from the UK are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for January. Consumer price inflation is forecast to ease to 10.3 percent from 10.5 percent in December.

Economists forecast UK output prices to grow 13.3 percent in January from the last year, slower than the 14.7 percent increase in December. Likewise, input price inflation is seen easing to 14.7 percent from 16.5 percent.

At 3.00 am ET, Spain's INE publishes final consumer and harmonized prices for January. Inflation is forecast to rise slightly to 5.8 percent, as initially estimated, from 5.7 percent in December.

At 5.00 am ET, Eurostat publishes euro area industrial production and foreign trade figures. Industrial output is expected to fall 0.8 percent on month, reversing November's 1.0 percent increase. The trade deficit is seen widening to EUR 12.5 billion in December from EUR 11.7 billion in November.

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DUTCH JOBLESS RATE RISES SLIGHTLY TO 3.6%

The Netherlands' unemployment rate increased slightly in January from a six-month low in December, data from the Central Bureau of Statistics showed on Thursday.

The seasonally adjusted ILO jobless rate for the 15-75 year old age group rose to 3.6 percent in January from 3.5 percent in December. In the corresponding month last year, the unemployment rate was also 3.6 percent.

The number of unemployed increased to 360,000 in January, up from 352,000 the previous month.

The youth unemployment rate, which applies to the 15 to 25 age group, climbed to 7.8 percent in January from 7.5 percent in the prior month.

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SWISS INDUSTRIAL PRODUCTION EXPANDS 6.1% IN Q4

Switzerland's industrial production continued to expand strongly in the fourth quarter on the back of sharp growth in the manufacturing sector, while construction output contracted, the Federal Statistical Office reported on Friday.

Industrial production rose 6.1 percent year-over-year in the fourth quarter, slightly faster than the 6.0 percent rise in the third quarter.

Production in the manufacturing sector grew 7.9 percent, while the mining and quarrying segment logged a negative growth of 3.0 percent. Electricity supply also slumped 10.3 percent.

Secondary sector production, which combines industry and construction, grew 4.1 percent annually in the December quarter, following a 3.7 percent gain in the September quarter.

Meanwhile, construction output declined 5.5 percent, slower than the 8.8 percent plunge in the preceding three-month period. Industrial turnover advanced 8.7 percent in the fourth quarter and construction turnover rose 2.7 percent.

The growth in production and turnover has been uninterrupted since the first quarter 2021, the agency said.

In December, industrial production climbed 8.6 percent year-on-year, following a 1.0 percent growth in November.

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EUROPEAN ECONOMIC NEWS PREVIEW: EUROZONE FINAL INFLATION DATA DUE

Final inflation from the euro area is the only major statistical report due on Thursday, headlining a light day for the European economic news.

At 3.00 am ET, final consumer prices data from Austria is due. The flash estimate showed that consumer price inflation rose to 11.1 percent in January from 10.2 percent in December.

At 4.00 am ET, unemployment data is due from Poland. The jobless rate is forecast to rise to 5.5 percent in January from 5.2 percent in December.

At 5.00 am ET, Eurostat releases euro area final inflation data for January. The statistical office is set to confirm 8.5 percent inflation, which was up from 9.2 percent in December. Core inflation was seen at 5.2 percent, unchanged from December, and in line with preliminary estimate.

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AUSTRALIA COMPANY OPERATING PROFITS JUMP 10.6% IN Q4

Australia's company gross operating profits surged a seasonally adjusted 10.6 percent on quarter in the fourth quarter of 2022, the Australian Bureau of Statistics said on Monday.

That blew away expectations for an increase of 1.5 percent following the upwardly revised 11.5 percent decline in the three months prior (originally -12.5 percent).

Business inventories eased 0.2 percent on quarter, in line with forecasts following the 1.7 percent increase in the previous three months.

Wages and salaries rose 2.6 percent on quarter.

On a yearly basis, operating profits jumped16.0 percent, inventories gained 5.9 percent and wages advanced 11.6 percent.

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JAPAN INDUSTRIAL PRODUCTION SINKS 4.6% IN JANUARY

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Industrial production in Japan was down a seasonally adjusted 4.6 percent on month in January, the Ministry of Economy, Trade and Industry said on Tuesday.

That was shy of expectations for a decline of 2.6 percent following the 0.3 percent increase in December.

On a yearly basis, industrial output fell 2.3 percent after skipping 2.4 percent in the previous month.

Upon the release of the data, the METI downgraded its assessment of industrial production, saying that it has

Shipments were down 3.1 percent on month and 2.4 percent on year, while inventories fell 0.9 percent on month and gained 3.2 percent on year. The inventory ratio advanced 2.5 percent on month and 9.6 percent on year.
According to the METI's forecast of industrial production, output is expected to jump 8.0 percent in February and rise 0.7 percent in March.

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CHINA CAIXIN PMI MOVES BACK TO EXPANSION IN FEBRUARY

The manufacturing sector in China moved back into expansion territory in February, the latest survey from Caixin revealed on Wednesday with a PMI score of 51.6.

That's up from 49.2 in January, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

The higher headline index reading was supported by a renewed increase in production volumes in February. This marked the first upturn in output since last August, with the rate of expansion the steepest since June 2022.

Firms frequently mentioned that the recent easing of COVID-19 containment measures and recovery of operations and client demand had underpinned the increase in production. Similarly, total new business expanded for the first time in seven months, and at the quickest rate since May 2021.

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SINGAPORE PMI SLUMPS IN FEBRUARY - S&P GLOBAL

The private sector in Singapore fell into contraction in February, the latest survey from S&P Global showed on Friday with a PMI score of 49.6.
That's down from 51.2 in January, and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction.

Demand for Singaporean goods and services rose in February, but only fractionally compared to the start of the year. Promotional activities supported the latest growth in new orders. Growth was mainly driven by the real estate & business services and consumer services sectors. Foreign demand also saw its rate of growth slow in the latest survey.

As a result of the weak rise in new orders, private sector output was only able to eke out slight gains in February. Lingering issues of supply constraints also led to a further accumulation of backlogged work over the month.

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YEN RISES AGAINST MAJORS

The Japanese yen strengthened against the other major currencies in the Asian session on Monday.

The yen rose to a 5-day high of 144.15 against the euro and a 4-day high of 144.76 against the Swiss franc, from Friday's closing values of 144.36 and 145.03, respectively.

Against the pound, the yen advanced to 163.17 from an early 4-day low of 163.68. Against the Australian and the New Zealand dollars, the yen climbed to 5-day highs of 91.52 and 84.27 from last week's closing quotes of 91.87 and 84.48, respectively.

The yen rose to 99.67 against the Canadian dollar, from Friday's closing value of 99.85.

If the yen extends its uptrend, it is likely to find resistance around 141.00 against the euro, 140.00 against the franc, 159.00 against the pound, 88.00 against the aussie, 82.00 against the kiwi and 95.00 against the loonie.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY INDUSTRIAL OUTPUT & RETAIL SALES DATA DUE

Industrial production and retail sales from Germany and revised quarterly national accounts from the euro area are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's industrial production and retail sales for January. Industrial output is forecast to grow 1.4 percent on month, in contrast to the 3.1 percent decrease in December. Sales are expected to climb 2.0 percent on month, reversing a 5.3 percent decrease in the prior month.

Half an hour later, the Hungarian Central Statistical Office is scheduled to release consumer prices for February. Inflation is forecast to ease to 25.4 percent from 25.7 percent in January.

At 4.00 am ET, Italy's Istat is scheduled to publish retail sales for January. Economists forecast sales to fall 0.2 percent on month, the same pace of fall as seen in December.

At 5.00 am ET, Eurostat releases euro area revised quarterly national accounts for the fourth quarter. The initial estimate showed that the currency bloc expanded only 0.1 percent after rising 0.3 percent in the third quarter.

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EUROPEAN ECONOMIC NEWS PREVIEW: FRANCE PAYROLL EMPLOYMENT DATA DUE

Payroll employment from France is the only major economic report due on Thursday, headlining a light day for the European economic news.

At 1.30 am ET, France's statistical office INSEE releases payroll employment data for the fourth quarter.

At 2.00 am ET, Statistics Sweden is scheduled to issue GDP, industrial production and new orders data for January.

At 3.00 am ET, the Czech Statistical Office publishes foreign trade data for January. The trade balance is forecast to show a surplus of CZK 15.3 billion compared to a shortfall of CZK 1.2 billion in December.

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U.S. DOLLAR FALLS AGAINST MAJORS

The U.S. dollar weakened against other major currencies in the Asian session on Monday. The U.S. dollar fell to nearly a 4-week low of 1.0731 against the euro and nearly a 2-week low of 1.2139 against the pound, from last week's closing quotes of 1.0639 and 1.2029, respectively.

The U.S. dollar retreated to 133.69 against the yen and 0.9155 against the Swiss franc, from early highs of 135.05 and 0.9202, respectively.

The U.S. dollar dropped to near 4-month lows of 133.52 against the yen and 0.9146 against the Swiss franc in the early Asian session today.

Against the Australian, the New Zealand and the Canadian dollars, the greenback dropped to 6-day lows of 0.6672, 0.6202 and 1.3711 from Friday's closing quotes of 0.6580, 0.6132 and 1.3823, respectively.

If the greenback extends its downtrend, it is likely to find support around 1.09 against the euro, 1.23 against the pound, 131.00 against the yen, 0.90 against the franc, 0.69 against the aussie, 0.63 against the kiwi and 1.35 against the loonie.

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AUSTRALIAN DOLLAR RISES AGAINST MAJORS

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday.

The Australian dollar rose to 2-day highs of 0.6711 against the U.S. dollar and 0.9169 against the Canadian dollar, from yesterday's closing quotes of 0.6682 and 0.9143, respectively.

Against the yen, the euro and the NZ dollar, the aussie edged higher to 90.00, 1.6028 and 1.0751 from yesterday's closing quotes of 89.68, 1.6054 and 1.0705, respectively.

If the aussie extends its uptrend, it is likely to find resistance around 0.69 against the greenback, 0.93 against the loonie, 91.00 against the yen, 1.56 against the euro and 1.09 against the kiwi.

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JAPAN HAS Y897.7 BILLION TRADE DEFICIT IN FEBRUARY

Japan posted a merchandise trade deficit of 897.7 billion yen in February, the Ministry of Finance said on Thursday.

That exceeded expectations for a shortfall of 1,069.4 billion yen following the 3,498.6 billion yen deficit in January.

Exports were up 6.5 percent on year to 7.654 trillion yen - missing forecasts for an increase of 7.1 percent but up from the 3.5 percent gain in the previous month.

Imports climbed an annual 8.3 percent to 8.552 trillion yen versus expectations for an increase of 12.2 percent and slowing from 17/5 percent a month earlier.

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SINGAPORE NON-OIL EXPORT DATA DUE ON FRIDAY

Singapore will on Friday release February figures for non-oil domestic exports, highlighting a light day for Asia-Pacific economic activity.

NODX are expected to slip 0.5 percent on month and 16.0 percent on year after adding 0.9 percent on month and tumbling 25.0 percent on year in January - when the trade surplus was SGD6.303 billion.

Malaysia will provide February numbers for imports, exports and trade balance. Imports are expected to rise 6.8 percent on year, up from 2.3 percent in January. Exports are called higher by an annual 4.5 percent, accelerating from 1.5 percent in the previous month. The trade surplus is pegged at MYR18.30 billion, up from MYR18.20 billion.

Japan will see February results for its tertiary industry activity index; in the previous month, the index slipped 0.4 percent on month.

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SINGAPORE NON-OIL EXPORT DATA DUE ON FRIDAY

Singapore will on Friday release February figures for non-oil domestic exports, highlighting a light day for Asia-Pacific economic activity.

NODX are expected to slip 0.5 percent on month and 16.0 percent on year after adding 0.9 percent on month and tumbling 25.0 percent on year in January - when the trade surplus was SGD6.303 billion.

Malaysia will provide February numbers for imports, exports and trade balance. Imports are expected to rise 6.8 percent on year, up from 2.3 percent in January. Exports are called higher by an annual 4.5 percent, accelerating from 1.5 percent in the previous month. The trade surplus is pegged at MYR18.30 billion, up from MYR18.20 billion.

Japan will see February results for its tertiary industry activity index; in the previous month, the index slipped 0.4 percent on month.

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EURO LITTLE CHANGED AFTER GERMAN PPI DATA

At 3:00 am ET, Destatis issued Germany's producer prices data for February.

After the data, the euro changed little against its major rivals.

As of 3:05 am ET, the euro was trading at 0.8749 against the pound, 0.9874 against the Swiss franc, 1.0666 against the U.S. dollar and 139.64 against the yen.

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AUSTRALIAN DOLLAR SLIDES AGAINST MAJORS

The Australian dollar weakened against other major currencies in the Asian session on Tuesday.

The Australian dollar fell to a 6-day low of 1.6018 against the euro, from yesterday's closing value of 1.5949.

The aussie dropped to 87.81 against the yen, from yesterday's closing value of 88.18.

Against the U.S. and the Canadian dollars, the aussie edged down to 0.6690 and 0.9153 from yesterday's closing quotes of 0.6715 and 0.9175, respectively.

If the aussie extends its downtrend, it is likely to find support around 1.62 against the euro, 86.00 against the yen, 0.64 against the greenback and 0.89 against the loonie.

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AUSTRALIAN DOLLAR RISES AGAINST MAJORS

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday.

The Australian dollar rose to nearly a 2-week high of 1.0805 against the NZ dollar and a 2-day high of 88.79 against the yen, from yesterday's closing quotes of 1.0761 and 88.32, respectively.

Against the U.S. and the Canadian dollars, the aussie advanced to 0.6690 and 0.9167 from yesterday's closing quotes of 0.6666 and 0.9141, respectively.

The aussie edged up to 1.6105 against the euro, from yesterday's closing value of 1.6134.

If the aussie extends its uptrend, it is likely to find resistance around 1.09 against the kiwi, 91.00 against the aussie, 0.68 against the greenback, 0.93 against the loonie and 1.55 against the euro.

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U.S. DOLLAR RISES AGAINST MOST MAJORS

The U.S. dollar strengthened against most major currencies in the Asian session on Friday.

The U.S. dollar rose to 2-day highs of 1.0817 against the euro and 1.3736 against the Canadian dollar, from yesterday's closing quotes of 1.0828 and 1.3715, respectively.

Against the pound and the Swiss franc, the greenback edged up to 1.2261 and 0.9179 from yesterday's closing quotes of 1.2286 and 0.9163, respectively.

If the greenback extends its uptrend, it is likely to find resistance around 1.03 against the euro, 1.39 against the loonie, 1.18 against the pound and 0.93 against the franc.

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YEN FALLS AGAINST MAJORS

The Japanese yen weakened against other major currencies in the late Asian session on Monday. The yen fell to 4-day lows of 131.31 against the U.S. dollar, 142.85 against the Swiss franc and 95.61 against the Canadian dollar, from recent highs of 130.49, 141.57 and 94.95, respectively.

Against the euro and the pound, the yen dropped to 141.23 and 160.52 from recent highs of 140.53 and 159.57, respectively.

Moving away from recent highs of 86.62 against the Australian dollar and 80.89 against the NZ dollar, the yen slipped to 87.36 and 81.46, respectively.

If the yen extends its downtrend, it is likely to find support around 134.00 against the greenback, 144.00 against the franc, 97.00 against the loonie, 144.00 against the euro, 163.00 against the pound, 91.00 against the aussie and 83.00 against the kiwi.

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AUSTRALIA RETAIL SALES ADD 0.2% IN FEBRUARY

The total value of retail sales in Australia was up a seasonally adjusted 0.2 percent on month in February, the Australian Bureau of Statistics said on Tuesday - coming in at A$35.141 billion.

That exceeded expectations for an increase of 0.1 percent and was down from 1.9 percent in January.

Individually, sales were up for food, clothing, department store sales and cafes and restaurants. Sales were flat for household goods and down for other retailing.

On a yearly basis, retail sales climbed 6.4 percent.

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NZ DOLLAR RISES AGAINST MAJORS

The New Zealand dollar strengthened against other major currencies in the Asian session on Wednesday.

The NZ dollar rose to a 1-week high of 82.61 against the yen and a 6-day high of 0.6271 against the U.S. dollar, from yesterday's closing quotes of 81.85 and 0.6253, respectively.

Against the euro and the Australian dollar, the kiwi advanced to 5-day highs of 1.7283 and 1.0686 from yesterday's closing quotes of 1.7333 and 1.0727, respectively.

If the kiwi extends its uptrend, it is likely to find resistance around 84.00 against the yen, 0.63 against the greenback, 1.69 against the euro and 1.05 against the aussie.

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AUSTRALIAN DOLLAR SLIDES AGAINST MAJORS

The Australian dollar weakened against other major currencies in the Asian session on Thursday.

The Australian dollar fell to more than a 3-week low of 0.9046 against the Canadian dollar, from yesterday's closing value of. 0.9060.

Moving away from yesterday's closing value of 0.6684 against the U.S. dollar, the aussie dropped to 0.6661.

Against the euro and the yen, the aussie edged down to 1.6255 and 88.39 from yesterday's closing quotes of 1.6217 and 88.76, respectively.

If the aussie extends its downtrend, it is likely to find support around 0.89 against the loonie, 0.65 against the greenback, 1.63 against the euro and 85.00 against the yen.

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JAPAN RETAIL SALES SURGE 6.6% ON YEAR IN FEBRUARY

The total value of retail sales in Japan was up 6.6 percent on year in February, the Ministry of Economy, Trade and Industry said on Friday.

That beat forecasts for an increase of 5.8 percent and was up from the downwardly revised 5.0 percent gain in January.

Sales from large retailers climbed 5.0 percent on year, easing from 5.5 percent in the previous month.

Wholesale sales climbed an annual 2.3 percent, accelerating from 1.2 percent a month earlier.

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YEN ADVANCES AGAINST MOST MAJORS

The Japanese yen strengthened against most major currencies in the Asian session on Monday.

The yen rose to 4-day highs of 143.62 against the euro and 163.42 against the pound, from last week's closing quotes of 143.99 and 163.74, respectively.

Against the Swiss franc and the Australian dollar, the yen advanced to 4-day highs of 144.91 and 88.54 from Friday's closing quotes of 145.03 and 88.73, respectively.

If the yen extends its uptrend, it is likely to find resistance around 138.00 against the euro, 157.00 against the pound, 139.00 against the franc and 85.00 against the aussie

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