(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

00:00 China Bank holiday

02:00 New Zealand Expected Annual Inflation 2y from now Quarter I +2.1%

07:00 Germany GDP (QoQ) (Finally) Quarter IV +0.7% +0.7% +0.7%

07:00 Germany GDP (YoY) (Finally) Quarter I +1.6% +1.6% +1.6%

The U.S. dollar traded higher against its major peers ahead of US Federal Reserve chair Janet Yellen's semi-annual testimony to the Senate Banking Committee. Markets will closely watch the testimony for clues as to when the world's largest economy may raise interest rates. Yellen is to testify in the US today and tomorrow. Yesterday data showed Sales of existing homes fell 4.9% to a seasonally adjusted annual rate of 4.82 million in January from 5.07 million in December. That was the lowest level since April 2014.

The euro was under pressure as Greece missed yesterday's deadline to present a list of reforms, a condition for the extension of the international bailout, which is now scheduled for today according to Greek officials. The list will include plans on the governments fight against tax evasion and corruption. According to E.U. official the delay is not an issue as Greece was working closely with the E.U. elaborating the contents of the list.

The Australian dollar lost against the dollar for a second consecutive day in line with the kiwi. Worries about low commodity prices continue to weigh on the currency. Tomorrow the Australian Bureau of Statistics will release the wage growth index and construction data for the last quarter.

New Zealand's dollar declined against the greenback after the RBNZ revised its inflation outlook down. Expected Annual Inflation 2years from now, a survey of business managers and professionals declined from +2.1% to +1.8% in the first quarter.

The Japanese yen fell against the greenback on Tuesday before the testimony of FED Chair Janet Yellen. Yesterday minutes of the January policy meeting of the Bank of Japans showed that some members of the board questioned the extension of the massive quantitative easing program started in October this year and that the QE may need to stop before reaching the 2% inflation target. Three BoJ's board members expressed doubts the central bank will achieve its 2% inflation goal in the targeted period.The BoJ cut its consumer inflation forecast for fiscal 2015 starting in April to 1.0% from its previous estimate of 1.7%. For fiscal 2016, the central bank upgraded its inflation forecast to 2.2% from 2.1%.

EUR/USD: the euro traded weaker against the greenback

(time / country / index / period / previous value / forecast)

08:15 Switzerland Employment Level Quarter IV 4.23 4.22

10:00 Eurozone Harmonized CPI January -0.1%

10:00 Eurozone Harmonized CPI, Y/Y (Finally) January -0.6% -0.6%

10:00 Eurozone Harmonized CPI ex EFAT, Y/Y January +0.6% +0.6%

14:00 Belgium Business Climate February -8.8 -8.4

14:00 Eurozone ECB President Mario Draghi Speaks

14:00 U.S. S&P/Case-Shiller Home Price Indices, y/y December +4.3% +4.5%

14:45 U.S. Services PMI (Preliminary) February 54.2 54.5

15:00 U.S. Richmond Fed Manufacturing Index February 6 7

15:00 U.S. Mortgage Delinquencies Quarter IV 5.85%

15:00 U.S. Consumer confidence February 102.9 99.6

15:00 U.S. Federal Reserve Chair Janet Yellen Testifies

19:00 Canada BOC Gov Stephen Poloz Speaks

21:30 U.S. API Crude Oil Inventories February +14.3