Economic calendar (GMT0):

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

03:30 Australia Announcement of the RBA decision on the discount rate 2% 2% 2%

03:30 Australia RBA Rate Statement

08:15 Switzerland Retail Sales Y/Y December -1.7% Revised From -3.1% -1.6%

08:15 Switzerland Retail Sales (MoM) December -0.6% Revised From -0.8% 1.1%

08:55 Germany Unemployment Rate s.a. January 6.3% 6.3% 6.2%

08:55 Germany Unemployment Change January -16 Revised From -13 -7 -20

09:30 United Kingdom PMI Construction January 57.8 57.5 55

10:00 Eurozone Producer Price Index, MoM December -0.2% -0.6% -0.8%

10:00 Eurozone Producer Price Index (YoY) December -3.2% -2.8% -3.0%

10:00 Eurozone Unemployment Rate December 10.5% 10.5% 10.4%

The U.S. dollar traded mixed against the most major currencies in the absence of any major economic reports from the U.S.

The FOMC Member Esther George will speak at 18:00 GMT.

The euro traded higher against the U.S. dollar after the release of the mixed economic data from the Eurozone. Eurostat released its unemployment data for the Eurozone on Tuesday. Eurozone's unemployment rate declined to 10.4% in December from 10.5% in November. It was the lowest reading since September 2011.

Analysts had expected the unemployment rate to remain unchanged at 10.5%.

The lowest unemployment rate in the Eurozone in December was recorded in Germany (4.5%) and Malta (5.1%), and the highest in Greece (24.5% in October 2015) and Spain (20.8%).

Eurostat released its producer price index for the Eurozone on Tuesday. Eurozone's producer price index declined 0.8% in December, missing expectations for a 0.6% fall, after a 0.2% decrease in November.

Intermediate goods prices fell 0.3% in December, capital goods prices were flat, non-durable consumer goods prices declined 0.1%, and durable consumer goods prices were stable, while energy prices decreased 2.7%.

On a yearly basis, Eurozone's producer price index dropped 3.0% in December, missing expectations for a 2.8% decrease, after a 3.2% fall in November.

Eurozone's producer prices excluding energy fell 0.7% year-on-year in December. Energy prices dropped at an annual rate of 9.0%.

The Federal Labour Agency released its unemployment figures for Germany on Tuesday. The number of unemployed people in Germany fell by 20,000 in January, exceeding expectations for a 7,000 decline, after a 16,000 decrease in December. December's figure was revised up from a 13,000 decline.

The unemployment rate declined to 6.2% in January from 6.3% in December. Analysts had expected the unemployment rate to remain unchanged at 6.3%.

The British pound traded mixed against the U.S. dollar after the release of the weaker-than-expected construction PMI data from the U.K. Markit Economics released its manufacturing purchasing managers' index (PMI) for the U.K. Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. dropped to 55.0 in January from 57.8 in December, missing expectations for a decrease to 57.5. It was the lowest level since April 2015.

A reading above 50 indicates expansion in the construction sector.

The index was driven by a softer growth in new business, while the employment rose was at the weakest pace since September 2013.

The Swiss franc traded lower against the U.S. dollar. The Federal Statistical Office released its retail sales data for Switzerland on Tuesday. Retail sales in Switzerland were down at an annual rate of 1.6% in December, after a 1.7% decrease in November. November's figure was revised up from a 3.1% drop.

Sales of food, beverages and tobacco rose at an annual rate of 0.1% in December, while non-food sales dropped 2.3%.

On a monthly basis, retail sales climbed by 1.1% in December, after a 0.6% fall in November. November's figure was revised up from a 0.8% decline.

Sales of food, beverages and tobacco rose 0.4% in December, while non-food sales increased 0.7%.

EUR/USD: the currency pair rose to $1.0922

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

18:00 U.S. FOMC Member Esther George Speaks

21:45 New Zealand Employment Change, q/q Quarter IV -0.4% 0.8%

21:45 New Zealand Unemployment Rate Quarter IV 6% 6.1%

23:50 Japan Monetary Policy Meeting Minutes