The euro recorded losses against most of its major counterparts, as German ZEW surveys came out somewhat mixed. The current situation index was below expectations, while the economic sentiment release came out stronger. Spain was the main subject at the Eurogroup meeting, where eurozone’s finance ministers tried to lessen the significance of Spain's change in its 2012 budget deficit target. Juncker commented that the most significant thing is that Spain agreed to remain committed to its 3% deficit target for 2013. Against the US dollar, the single currency dived to 1.3078 from 1.3168. Versus the British pound, the euro plummeted falling to 0.8328 from 0.8413. The single currency came to life against Swiss franc, jumping to 1.2080 from 1.2054 after remaining in a very narrow band for a number of days.

The US dollar produced mixed results versus a basket of currencies as the FOMC upgraded assessments of the US labour market. The FOMC forecasted moderate economic growth in the long term, improved from modest expectations previously. The Federal Banl also recognized that strains in global financial markets have eased. Even though the 2014 low rate prediction was affirmed, no further quantitative easing hints were made. Against the Japanese yen, the greenback rose to 82.95 from 82.36. Versus the Swiss franc, the US dollar advanced to 0.9236 from 0.9154. Federal Reserve Chairman Bernanke will be talking about community banking at a convention, one day after FOMC statement and investors will closely monitor this for any hint of future policy.

Oil prices rose to 106.50 from 106.26 dollars a barrel. Gold dived to 1675.90 from 1699.99 US dollars an ounce. Against the euro, gold dropped to 1279.34 from 1293.31 an ounce. Silver dropped to 33.3490 from 33.6443 dollars an ounce.

OutlookPivotPreference1Sentiment2
EURUSD1.3100SHORT @ 1.309060% of deals buy EUR
USDJPY82.60LONG @ 82.6069% of deals buy USD
GBPUSD1.5710SHORT @ 1.570058% of deals buy GBP
AUDUSD1.0565SHORT @ 1.056555% of deals buy AUD
GOLD1685SHORT @ 168578% of deals buy GOLD
OIL107.35SHORT @ 107.3543% of deals buy OIL
1 data generated by Trading Central, 2 data obtained from easy-forex Inside Viewer
CalendarCurrencyTime (GMT)EventForecast
GBP09:30Claimant Count for February
6 k
EUR10:00Inflation, ex- food and energy, m/m for February
0.4%
USD14:30Crude Oil Inventories
2.2 mil
EquitiesEUROPEUSASIA3
FTSE 1001.07%S&P 5001.81%NIKKEI1.53%
DAX1.37%DJIA1.68%HIS-0.06%
CAC1.72%NASDAQ1.88%CSI 300-2.83%
3 at the time of writing