U.S. stocks retreated, with the Dow Jones Industrial Average losing more than 290 points, as investors shunned risk assets across the world while oil extended a selloff amid deepening concern that global growth is weakening.

The oil rout and worries about a China slowdown have continued to roil global markets, erasing as much as $2.4 trillion from the value of U.S. equities this year. While the S&P 500 recouped some losses in the past two weeks, trimming its worst start to a year since 2009, bearish sentiment has returned. The benchmark is down almost 11 percent from its all-time high set in May.

Investors are also assessing the campaign for the next U.S. president, after Senator Ted Cruz won Monday's Republican caucuses in Iowa in an upset over Donald Trump. Democrat Hillary Clinton held on to a narrow victory over Senator Bernie Sanders.

Among the rationales given for the selloff in U.S. equities this year, one that is rarely mentioned is the election cycle. Research from Ned Davis Research Group shows that the final year of a two-term presidency ranks last by returns, with the S&P 500 posting a median decline of 6.6 percent since 1953.

"More than 100 S&P 500 companies post results this week, and analysts estimate profits at index members fell 5.6 percent in the fourth quarter, better than Jan. 15 predictions for a 7 percent slump. Of those that have released financial results, 80 percent beat profit projections, while 49 percent topped sales estimates.

Investors will be looking this week at economic releases for indications of the strength of the U.S. economy, with the government's January jobs report coming into focus on Friday. Federal Reserve Bank of Kansas City President Esther George said today recent financial turmoil was anticipated and is no reason to delay further interest-rate increases.

George, who has consistently been among the most hawkish Fed officials, said last December's interest-rate hike, the first such move since 2006, was belated and cautioned it would be a mistake to wait too long to raise rates further.

The US dollar weakened slightly against other major currencies in quiet trading as oil prices resumed their downward trend, while concerns about global economic growth persist.

Asylum-yen strengthened after the price of oil back towards $ 30 a barrel after jumping to $ 34 in the previous three sessions.

Meanwhile, investors remained cautious amid concerns about global economic growth after data on Monday showed a reduction of manufacturing activity in China in January, the sixth consecutive month.

Positive impact on the growth of the euro also had data on the labor market in the eurozone. Statistical Office, Eurostat reported that the results of December the unemployment rate in the euro area decreased to 10.4% from 10.5% in November. The latter value was the lowest since September 2011. Recall that in December 2014, unemployment was 11.4%. Experts expect that the unemployment rate will be 10.5%. Meanwhile, it was reported that among the 28 EU countries the unemployment rate in December remained at 9.0% (with a minimum of June 2009). In the corresponding month in 2014, unemployment was at 9.9%. According to estimates by Eurostat, 21,944 million. Men and women in ES28, of which 16.750 million. Resident in the euro area, were unemployed in December. Compared with November, the number of unemployed decreased by 52 000 in the EU and 49 000 in the euro area. Compared with December 2014, unemployment fell by 2.026 million. EU and 1,501,000. In the eurozone. Youth unemployment was 4.454 mln., Of which 3.057 million. Were registered in the euro area. Compared with December 2014, unemployment decreased by 426,000 in the EU and 229,000 in the eurozone. In December 2015, the youth unemployment rate was 19.7% in the EU and 22.0% in the euro area.

A slight pressure is applied to the statistics on producer prices. Eurostat said that in December, producer prices in the euro area decreased by 0.8%. In the EU it was also recorded a drop of 0.8%. Analysts had expected prices in the euro area will decrease by 0.6%. Recall that in November, prices fell by 0.2% in the euro area and among the 28 EU countries. In annual terms, the producer price index decreased by 3.0% in the euro area and fell by 3.2% in the EU. In November, prices in the euro area and fell by 3.2%. Experts expect that the prices in the euro zone will fall by 2.8%.

The British pound rose sharply against the dollar, reaching yesterday's high. Strengthening pound noted despite the risk aversion and the data on activity in the construction sector in Britain. Most likely, support the pound had news that Britain has reached an agreement with the EU on one of the points of the plan of conservation into the EU. During the talks with the President of Cameron's EU Tusk parties approved the draft proposals for the reform of the EU. They relate to the possibility to change or block the action of European laws, if they are found to be undesirable 55% or more of the countries - EU members. According to the source, it should strengthen the role of the national parliaments of European countries. Later, Cameron said that the draft of the revised document on the relationship of Britain and the European Union demonstrates the substantial progress on all issues in which Britain wanted to make a difference.

With regard to the previously submitted data from Markit / CIPS, they showed that the rate of growth of business activity in the construction industry slowed sharply in January, exceeding the forecasts of experts and reaching 9-month low. According to the PMI index in the construction sector fell to 55.0 points compared to 57.8 points in December. Analysts had expected the index to fall to 57.5 points. The volume of new orders rose weakest pace in four months, while the pace of hiring new staff building firms were the slowest since September of 2013. Optimism among construction companies fell to its lowest level since December 2014. Markit also noted that the decline in the construction of houses and commercial real estate were the main reasons for the deterioration of the index in January. "The construction sector in Britain started the new year with a sharp deterioration. Increased economic uncertainty had a negative impact on the growth of new orders and the amount handed over the objects that fell to the lowest level since the summer of 2013," said Tim Moore, economist at Markit.

The Swiss franc fell moderately against the dollar. The reason for this was the weak retail sales data and statements of the SNB. As it became known, the volume of retail sales in Switzerland declined in December, recording the fifth consecutive monthly decline. According to the data, sales declined by 1.6 percent per annum, after falling 1.7 percent in November (revised from -3.1 per cent). Excluding fuel, the turnover in the retail sector fell in December by 1.5 percent compared with 0.8 percent drop in November. On a monthly basis, retail sales rose in December by 1.1 percent, offsetting a decrease of 0.6 percent recorded in November (revised from -0.8 per cent). At the same time, sales excluding fuel rose 0.8 percent after falling 0.6 percent in November. In nominal terms, sales decreased by 3 percent compared to last year and 1 percent in monthly terms.

Meanwhile, the head of the SNB's Jordan once again said that the franc remains overvalued. He added that if necessary, the Central Bank is ready to make an intervention.

The Swiss National Bank (SNB) Chairman Thomas Jordan said in a speech on Tuesday that the Swiss franc remained significantly overvalued. He added that the central bank was ready to intervene in the foreign exchange market if needed.

Stock indices closed lower as oil prices dropped again. Oil prices fell on concerns over the global oil oversupply.

Meanwhile, the economic data from the Eurozone was mixed. 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%.

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.

Indexes on the close:

Name Price Change Change %

FTSE 100 5,922.01 -138.09 -2.28 %

DAX 9,581.04 -176.84 -1.81 %

CAC 40 4,283.99 -108.34 -2.47 %

Polish equity market plunged on Tuesday, with the broad market measure, the WIG Index, declining by 1.65%. Sector-wise, food sector (+0.52%), developing sector (+0.42%) and IT (+0.42%) were the only sectors, which posted positive results. At the same time, banking sector (-3.29%) was hit the hardest, after Fitch Ratings warned that a bank tax and introduction of a proposed Swiss franc-denominated bill may hurt their credit profiles.

The large-cap companies' measure, the WIG30 Index, fell by 2.28%. Only five index constituents managed to generate positive returns: property developer GTC (WSE: GTC) jumped 2.17%, thermal coal miner BOGDANKA (WSE: LWB) advanced 1.82%, IT-company ASSECO POLAND (WSE: ACP) added 0.62%, agricultural producer KERNEL (WSE: KER) gained 0.45% and bank HANDLOWY (WSE: BHW) inched up 0.07%. At the same time, the session's most prominent losers were banking name PKO BP (WSE: PKO), FMCG wholesaler EUROCASH (WSE: EUR) and insurer PZU (WSE: PZU), tumbling by 5.96%, 3.52% and 3.19% respectively.

Oil prices declined on concerns over the global oil oversupply. News reported that Iran plans to boost its exports to 2.3 million barrels per day in the next fiscal year starting on March 21.

Russia's Energy Ministry released its oil output data on Tuesday. Oil output in Russia increased by 1.5% to 10.88 million barrels per day (bpd) in January from 10.83 million bpd in December.

Russian Foreign Minister Sergei Lavrov said on Tuesday that Russia is ready to cooperate with the Organization of the Petroleum Exporting Countries (OPEC) to stabilise the oil market.

Market participants are awaiting the release of U.S. crude oil inventories data. The American Petroleum Institute (API) is scheduled to release its U.S. oil inventories data later in the day, and U.S. oil inventories data from the U.S. Energy Information Administration is expected on Wednesday.

WTI crude oil for March delivery fell to $29.81 a barrel on the New York Mercantile Exchange.

Brent crude oil for April declined to $32.50 a barrel on ICE Futures Europe.

Gold price fell but remained near 3-month high. Gold price rose on Monday, supported by the weak Chinese manufacturing PMI data. The Chinese manufacturing PMI fell to 49.4 in January from 49.7 in December, according to the Chinese government on Monday. It was the lowest reading since August 2012. Analysts had expected the index to decline to 49.6.

The Chinese Markit/Caixin manufacturing PMI rose to 48.4 in January from 48.2 in December. The increase was driven by a softer drop in new orders.

April futures for gold on the COMEX today decreased to 1123.70 dollars per ounce.

Major U.S. stock-indexes lower on Tuesday as falling oil prices weighed on energy shares. Oil prices were down 5% as hopes for a deal between OPEC and Russia on output cuts faded with Goldman Sachs saying it was "highly unlikely".

Consumer savings from cheap gasoline have failed to translate into higher spending. U.S. consumers are opting to save or pay down debt rather than buying big-ticket items.

Most of Dow stocks in negative area (29 of 30). Top looser - The Goldman Sachs Group, Inc. (GS, -3,94%). Top gainer - E. I. du Pont de Nemours and Company (DD, +2,57%).

All S&P sectors in negative area. Top looser - Basic Materials (-3,3%).

At the moment:

Dow 16100.00 -240.00 -1.47%

S&P 500 1903.25 -28.00 -1.45%

Nasdaq 100 4231.75 -59.75 -1.39%

Crude Oil 30.22 -1.40 -4.43%

Gold 1127.50 -0.50 -0.04%

U.S. 10yr 1.88 -0.09

Russia's Energy Ministry released its oil output data on Tuesday. Oil output in Russia increased by 1.5% to 10.88 million barrels per day (bpd) in January from 10.83 million bpd in December.

Bashneft was the main contributor in January. The output rose 10.2% year-on-year.

Rosneft cut it oil production by 0.9% in January, while Lukoil reduced its oil output by 2.9%.

Russian Foreign Minister Sergei Lavrov said on Tuesday that Russia is ready to cooperate with the Organization of the Petroleum Exporting Countries (OPEC) to stabilise the oil market.

He noted that the country is ready to meet with OPEC and to discuss oil prices.

U.S. stock-index futures fell.

Global Stocks:

Nikkei 17,750.68 -114.55 -0.64%

Hang Seng 19,446.84 -148.66 -0.76%

Shanghai Composite 2,750.45 +61.60 +2.29%

FTSE 5,944.44 -115.66 -1.91%

CAC 4,306.52 -85.81 -1.95%

DAX 9,639.15 -118.73 -1.22%

Crude oil $30.38 (-3.92%)

Gold $1125.70 (-0.20%)

The Italian statistical office Istat released its unemployment data on Tuesday. The seasonally adjusted unemployment rate remained unchanged at 11.4% in December. December's figure was revised up from 11.3%.

The number of unemployed people was 2.898 million in December, up by 0.6% from the month before.

The youth unemployment rate fell to 37.9% in December from 38.0% in November.

The employment rate remained unchanged at 56.4% in December.

(company / ticker / price / change, % / volume)

USDJPY: 119.00 (400m) 120.50 (232m) 121.00 (995m) 121.50 (801m)

Y121.75 (200m) Y122.00 (650m)

EURUSD 1.0845-50 (EUR 303m) 1.0930 (149m) 1.1000 (226m)

GBPUSD 1.4315 (GBP 236m) 1.4500 (131m)

EURJPY 130.82 (EUR 536m)

AUDNZD 1.0880 (AUD 924m)

Spain's labour ministry release its labour market figures on Tuesday The number of registered unemployed people increased by 57,247 in January, after a 55,790 fall in December.

The increase was mainly driven by a loss in temporary services jobs which were added over the Christmas period.

On a yearly basis, the number of registered unemployed people fell by 678,200 people in 2015.

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The People's Bank of China (PBoC) on Tuesday injected 100 billion yuan ($15.2 billion) into market to boost liquidity via 14-day reverse repos and 28-day reverse repos.

The central bank usually injects extra money before the Lunar New Year holiday.

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

Exxon Mobil reported Q4 FY 2015 earnings of $0.67 per share (versus $1.56 in Q4 FY 2014), beating analysts' consensus of $0.64.

The company's quarterly revenues amounted to $59.807 bln (-31.5% y/y), beating consensus estimate of $55.285 bln.

XOM fell to $75.04 (-1.64%) in pre-market trading.

Pfizer reported Q4 FY 2015 earnings of $0.53 per share (versus $0.54 in Q4 FY 2014), beating analysts' consensus of $0.52.

The company's quarterly revenues amounted to $14.047 bln (+7.1% y/y), beating consensus estimate of $13.595 bln.

Pfizer also issued guidance for FY 2016, projecting EPS of $2.20-2.30 (versus analysts' consensus of $1.98) and revenues of $49-51 bln (versus analysts' consensus of $53 bln).

PFE fell to $29.75 (-1.39%) in pre-market trading.

EUR/USD

Offers 1.0920-25 1.0945-50 1.0985 1.1000 1.1025 1.1050

Ордера на покупку 1.0880-85 1.0850 1.0830 1.0800 1.0780-85 1.0765 1.0750 1.0730 1.0700

GBP/USD

Offers 1.4400 1.4425-30 1.4450 1.4475 1.4500 1.4520 1.4545-50

Bids 1.4370 1.4350 1.4320 1.4300 1.4285 1.4265 1.4250 1.4225-30 1.4200

EUR/GBP

Offers 0.7620 0.7655-60 0.7680 0.7700 0.7720-25 0.7750-55

Bids 0.7560 0.7530 0.7500 0.7485 0.7450

EUR/JPY

Offers 131.80-85 132.00 132.30 132.50 132.80 133.00

Bids 131.40 131.00 130.80 130.40 130.00 129.80 129.5

USD/JPY

Offers 120.80-85 121.00 121.35 121.50 121.75-80 122.00 122.30 122.50

Bids 120.40-45 120.25 120.00 119.80 119.50 119.25-30 119.00

AUD/USD

Offers 0.7100 0.7120-25 0.7150 0.7180 0.7200

Bids 0.7050 0.7030 0.70150.7000 0.6980 0.6950

Stock indices traded lower as oil prices dropped again. Oil prices fell on concerns over the global oil oversupply.

Meanwhile, the economic data from the Eurozone was mixed. 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%.

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.

Current figures:

Name Price Change Change %

FTSE 100 5,954.82 -105.28 -1.74 %

DAX 9,631.41 -126.47 -1.30 %

CAC 40 4,308.96 -83.37 -1.90 %

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%.

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%.

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%.

There were 16.750 million unemployed in the Eurozone in December, down by 49.000 from November.

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%).

The youth unemployment rate was 22.0% in the Eurozone in December, compared to 23.0% in December a year ago.

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 number of unemployed people was 1.91 million in December, according to Destatis.

Destatis said that Germany's adjusted unemployment rate remained unchanged at 4.5% in December.

The employment rate fell to 65.6% in December from 65.9% in November, according to Destatis.

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.

"UK construction firms struggled for momentum at the start of this year, with heightened economic uncertainty acting as a brake on new orders and contributing to one of the weakest rises in output levels since the summer of 2013. Softer growth of house building activity and a more subdued increase in commercial construction were the main factors behind the slowdown," Senior Economist at Markit, Tim Moore, said.

USD/JPY: 119.00 (400m) 120.50 (232m) 121.00 (995m) 121.50 (801m), Y121.75 (200m) Y122.00 (650m)

EUR/USD 1.0845-50 (EUR 303m) 1.0930 (149m) 1.1000 (226m)

GBP/USD 1.4315 (GBP 236m) 1.4500 (131m)

EUR/JPY 130.82 (EUR 536m)

AUD/NZD 1.0880 (AUD 924m)

The Reserve Bank of Australia (RBA) kept its interest rate unchanged at 2.00% on Tuesday. This decision was expected by analysts.

The RBA Governor Glenn Stevens said that the board' decision was appropriate at this meeting.

He pointed out that further interest rate cut is possible.

"Continued low inflation may provide scope for easier policy, should that be appropriate to lend support to demand," the RBA governor said.

Stevens also said that the growth in the non-mining parts of the Australian economy strengthened in 2015, while employment picked up and that the unemployment rate fell.

The RBA governor also said that "consumer price inflation is likely to remain low over the next year or two", adding that the monetary policy should be accommodative.

Stevens noted that the Australian dollar was adjusting to the evolving economic outlook.

The Organization of the Petroleum Exporting Countries (OPEC) delegates of Saudi Arabia, Kuwait, Qatar and the United Arab Emirates said that they were against an emergency meeting of OPEC.

"We still don't know how much oil Iran can add to the market and this won't be clear for weeks if not months so calling for an emergency meeting is pointless," a Gulf delegate said.

The Fed Vice Chairman Stanley Fischer said in a speech on Monday that the Fed was concerns about the developments in the global financial markets, which could have a negative impact on the U.S. economy.

"Increased concern about the global outlook, particularly the ongoing structural adjustments in China and the effects of the declines in the prices of oil and other commodities on commodity exporting nations, appeared early this year to have triggered volatility in global asset markets," he said.

"At this point, it is difficult to judge the likely implications of this volatility. If these developments lead to a persistent tightening of financial conditions, they could signal a slowing in the global economy that could affect growth and inflation in the United States," the Fed vice chairman added.

Fischer pointed out that he did know the Fed's next move.

EUR / USD

Resistance levels (open interest**, contracts)

$1.0981 (3162)

$1.0953 (5145)

$1.0933 (2280)

Price at time of writing this review: $1.0902

Support levels (open interest**, contracts):

$1.0873 (1565)

$1.0851 (4396)

$1.0821 (5931)

Comments:

- Overall open interest on the CALL options with the expiration date February, 5 is 45087 contracts, with the maximum number of contracts with strike price $1,1000 (5612);

- Overall open interest on the PUT options with the expiration date February, 5 is 70159 contracts, with the maximum number of contracts with strike price $1,0800 (10114);

- The ratio of PUT/CALL was 1.56 versus 1.56 from the previous trading day according to data from February, 1

GBP/USD

Resistance levels (open interest**, contracts)

$1.4702 (2432)

$1.4603 (2154)

$1.4506 (2316)

Price at time of writing this review: $1.4387

Support levels (open interest**, contracts):

$1.4296 (1020)

$1.4198 (1735)

$1.4099 (1402)

Comments:

- Overall open interest on the CALL options with the expiration date February, 5 is 26384 contracts, with the maximum number of contracts with strike price $1,4650 (2893);

- Overall open interest on the PUT options with the expiration date February, 5 is 24306 contracts, with the maximum number of contracts with strike price $1,4550 (1987);

- The ratio of PUT/CALL was 0.92 versus 0.95 from the previous trading day according to data from February, 1

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

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

The euro climbed against the U.S. dollar. Market participants are waiting for euro zone unemployment data due at 10:00 GMT. The index is expected to have remained at 10.5% in December. Euro zone leading economy Germany will publish its unemployment data at 08:55 GMT.

The yen continued climbing against the U.S. dollar amid growing demand for safe-haven assets. The latest weak data on Chinese manufacturing added to investors' concerns over the global economy.

The Australian dollar declined after the Reserve Bank of Australia left its benchmark rate unchanged at 2.0%. This decision was widely expected by economists. The RBA noted that the rate could be cut if economic growth slows down. The bank added that inflation growth remains low and its outlook leaves room for further monetary policy easing.

EUR/USD: the pair rose to $1.0915 in Asian trade

USD/JPY: the pair fell to Y120.35

GBP/USD: the pair fell to $1.4375

The most important news that are expected (GMT0):

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

08:15 Switzerland Retail Sales Y/Y December -3.1%

08:15 Switzerland Retail Sales (MoM) December -0.8%

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

08:55 Germany Unemployment Change January -13 -7

09:30 United Kingdom PMI Construction January 57.8 57.5

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

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

10:00 Eurozone Unemployment Rate December 10.5% 10.5%

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

21:00 U.S. Total Vehicle Sales, mln January 17.34 17.4

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%

22:30 Australia AIG Services Index January 46.3

23:50 Japan Monetary Policy Meeting Minutes

West Texas Intermediate futures for March delivery declined to $31.10 (-1.64%), while Brent crude fell to $33.65 (-1.72%) as market participants continued assessing recent weak data on manufacturing in the world's second-biggest oil consumer China.

The Russian Energy Ministry said on Monday that Russia and Venezuela discussed a possibility of co-operation with OPEC members, however analysts say that it is extremely unlikely that OPEC will co-operate with others to reduce output.

A poll by Reuters showed that U.S. crude oil inventories likely rose by 4.7 million barrels last week. The official data from the Energy Information Administration will be released on Wednesday.

Gold is currently at $1,126.10 (-0.17%) after reaching a three-week high amid uncertainty over the global economy and signs of weakness in the Chinese economy. Bullion has also benefited from increased stocks volatility. The negative rates tendency among central banks is also favorable for gold.

Holdings of SPDR Gold Trust, the largest gold-backed exchange-traded-fund, rose to 21.9 million ounces on Monday, the highest level since November 3.

U.S. stock indices reversed opening loses and closed little changed on Monday.

The Dow Jones Industrial Average closed 17.12 points, or 0.1% lower at 16,449 after an initial decline of 160 points. The S&P 500 slid 0.86 point, or 0.04%, to 1,939.38 (its energy sector led declines closing 1.9% lower). The Nasdaq Composite gained 6.41 points, or 0.1%, to 4,620.

A report by the Institute for Supply Management showed that activity in the U.S. manufacturing sector slightly improved in January beating median forecasts. The Manufacturing PMI came in at 48.2 in January after a 48.0 reading in December. The index was expected to stay unchanged.

Comments from Fed Vice Chairman Stanley Fischer suggested that the central bank was in no rush to raise interest rates further. Fischer also noted that inflation was likely to stay low for a longer time. These comments supported stocks.

This morning in Asia Hong Kong Hang Seng lost 0.82%, or 1 61.25, to 19,434.25. China Shanghai Composite Index rose 1.68%, or 45.16, to 2,734.02. The Nikkei declined 0.64%, or 114.55, to 17,750.68.

Asian stock indices traded mixed. Japanese stocks fell amid declines in U.S. equities and profit-taking.

Chinese stocks gained. Today the People's Bank of China injected around $15.2 billion into the financial system in order to saturate the market with liquidity ahead of a week-long holiday.

(raw materials / closing price /% change)

Oil 31.32 -0.95%

Gold 1,128.60 +0.05%

(index / closing price / change items /% change)

Nikkei 225 17,865.23 +346.93 +1.98 %

Hang Seng 19,595.5 -87.61 -0.45 %

Shanghai Composite 2,689.25 -48.35 -1.77 %

FTSE 100 6,060.1 -23.69 -0.39 %

CAC 40 4,392.33 -24.69 -0.56 %

Xetra DAX 9,757.88 -40.23 -0.41 %

S&P 500 1,939.38 -0.86 -0.04 %

NASDAQ Composite 4,620.37 +6.41 +0.14 %

Dow Jones 16,449.18 -17.12 -0.10 %

(pare/closed(GMT +2)/change, %)

EUR/USD $1,0887 +0,50%

GBP/USD $1,4432 +1,26%

USD/CHF Chf1,0196 -0,44%

USD/JPY Y120,98 -0,07%

EUR/JPY Y131,72 +0,44%

GBP/JPY Y174,58 +1,19%

AUD/USD $0,7112 +0,49%

NZD/USD $0,6546 +1,10%

USD/CAD C$1,3945 -0,43%

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

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

03:30 Australia RBA Rate Statement

08:15 Switzerland Retail Sales Y/Y December -3.1%

08:15 Switzerland Retail Sales (MoM) December -0.8%

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

08:55 Germany Unemployment Change January -13 -7

09:30 United Kingdom PMI Construction January 57.8 57.6

10:00 Eurozone Producer Price Index, MoM December -0.2% -0.5%

10:00 Eurozone Producer Price Index (YoY) December -3.2% -2.9%

10:00 Eurozone Unemployment Rate December 10.5% 10.5%

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

21:00 U.S. Total Vehicle Sales, mln January 17.34 17.4

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%

22:30 Australia AIG Services Index January 46.3

23:50 Japan Monetary Policy Meeting Minutes