Polish equity market closed lower on Tuesday. The broad market measure, the WIG index, lost 0.2%. Sector-wise, telecommunications sector (-5.61%) was the weakest, while food sector (+2.16%) outperformed.

The large-cap stocks' measure, the WIG30 Index, declined by 0.23%. Within the WIG30 Index components, telecommunication services provider ORANGE POLSKA (WSE: OPL) fared the worst, slumping by 7.8% after the company reported a bigger-than-expected Q4 net loss and pessimistic forecast for 2016. It was followed by genco TAURON PE (WSE: TPE), which fell by 4.64% after the company announced it expects to take a PLN 4.931 bln hit from asset impairments on its 2015 net profit. Bank ING BSK (WSE: ING), coking coal producer JSW (WSE: JSW), genco PGE (WSE: PGE) and chemical producer GRUPA AZOTY (WSE: ATT) also generated solid losses, tumbling by 3%-3.56%. On the other side of the ledger, agricultural producer KERNEL (WSE: KER) and bank HANDLOWY (WSE: BHW) were the best performers, advancing 4.25% and 3.83% respectively.

Stock indices closed mixed as oil prices fell again. Oil prices traded lower on news that Russia and Saudi Arabia on Tuesday agreed to freeze the oil production at the level of January if other oil producers join.

Market participants also eyed the weak ZEW economic sentiment data from Germany and the Eurozone. The ZEW Center for European Economic Research released its economic sentiment index for Germany and the Eurozone on Tuesday. Germany's ZEW economic sentiment index declined to 1.0 in February from 10.2 in January, beating expectations for a fall to 0.0.

"The looming slowdown of the world economy and the uncertain consequences of the falling oil price put a strain on the ZEW Indicator of Economic Sentiment. In view of these developments, the concern over an increased credit default risk has already caused stock and bond prices for many banks in Europe, Japan and the US to slump," head of the "International Finance and Financial Management" Research Department at ZEW, Sascha Steffen, said.

Eurozone's ZEW economic sentiment index dropped to 13.6 in February from 22.7 in January, beating expectations for a decline to 10.3.

The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index rose to 0.3% year-on-year in January from 0.2% in December, in line with expectations. It was the highest reading since January 2015.

The rise was driven by a softer decline in food and fuel prices.

On a monthly basis, U.K. consumer prices dropped 0.8% in January, missing expectations for a 0.7% fall, after a 0.1% gain in December.

The monthly decline was driven by a drop in air fare prices.

Consumer price inflation excluding food, energy, alcohol and tobacco prices decreased to 1.2% year-on-year in January from 1.4% in December, missing expectations for a 1.3% gain.

The consumer price inflation is below the Bank of England's 2% target.

Indexes on the close:

Name Price Change Change %

FTSE 100 5,862.17 +37.89 +0.65 %

DAX 9,135.11 -71.73 -0.78 %

CAC 40 4,110.66 -4.59 -0.11 %

Oil prices traded lower on news that Russia and Saudi Arabia on Tuesday agreed to freeze the oil production at the level of January if other oil producers join. Energy ministers from Saudi Arabia, Russia, Qatar and Venezuela met in Doha today to discuss the situation in the oil market.

The Saudi Arabian oil minister Ali al-Naimi noted that freezing oil production at January levels was an adequate measure, adding that new measures of stabilisation could be considered in the next few months.

Iranian Oil Minister Bijan Zanganeh said on Tuesday that the country would not agree to freeze its oil production at January levels, adding that Iran would not give up its share of the global oil market.

Iran announced on Sunday that it boosted its oil output by 400,000 barrels per day.

WTI crude oil for March delivery fell to $28.99 a barrel on the New York Mercantile Exchange.

Brent crude oil for March decreased to $32.32 a barrel on ICE Futures Europe.

Gold price fell below $1,200 per ounce, but later rose to $1,215 as oil prices remained volatile and as market participants are concerned about the slowdown in the global economy.

Market participants also eyed the mixed U.S. economic data. The New York Federal Reserve released its survey on Tuesday. The NY Fed Empire State manufacturing index rose to -16.64 in February from -19.37 in January, missing expectations for an increase to -10.00.

The National Association of Home Builders (NAHB) released its housing market index for the U.S. on Tuesday. The NAHB housing market index declined to 58 in February from 61 in January, missing expectations for a decrease to 60.

April futures for gold on the COMEX today traded in the range of 1190.40 and 1,215 dollars per ounce.

Major U.S. stock-indexes higher on Tuesday morning, extending a rally from Friday, as cautious investors looked for bargains among beaten-down stocks. Banks again gained. The S&P financial index posted its largest daily percentage gain since November 2011 on Friday. Consumer discretionary, technology and health stocks are down more than 9 percent this year. Only the financials' 13 percent drop is worse.

Most of Dow stocks in positive area (18 of 30). Top looser - Chevron Corporation (CVX, -2,22%). Top gainer - The Boeing Company (BA, +2,29%).

All of S&P sectors in positive area. Top gainer - Conglomerates (+2,8%).

At the moment:

Dow 16007.00 +94.00 +0.59%

S&P 500 1872.00 +13.75 +0.74%

Nasdaq 100 4051.25 +45.00 +1.12%

Oil 28.86 -0.58 -1.97%

Gold 1215.80 -23.60 -1.90%

U.S. 10yr 1.76 +0.02

According to the Reserve Bank of New Zealand's survey published on Tuesday, New Zealand's inflation expectations for the next 12 months dropped to 1.09% in the three months to February from 1.51% the previous quarter.

Inflation expectations for the next 24 months slid to 1.63% from 1.85%. It was the lowest reading since the second quarter of 1994.

The Office for National Statistics (ONS) released its house inflation data for the U.K. on Tuesday. The U.K. house price index fell at a seasonally adjusted rate of 0.2% in December, after a 1.0% increase in November.

On a yearly basis, the U.K. house price index increased at a seasonally adjusted rate of 6.7% in December, after a 7.7% in November.

The higher house price inflation England was mainly driven by an increase in prices in the East, the South East and London.

The average mix-adjusted house price was £288,000 in December, unchanged from November.

The National Association of Home Builders (NAHB) released its housing market index for the U.S. on Tuesday. The NAHB housing market index declined to 58 in February from 61 in January, missing expectations for a decrease to 60. January's figure was revised up from 60.

A level above 50.0 is considered positive, below indicates a negative outlook.

The buyer traffic sub-index decreased to 39 in February from 44 in January, the current sales conditions sub-index fell to 65 from 68, while the sub-index measuring sales expectations in the next six months increased to 65 from 64.

"Builders reported more consumer concern over the price of new homes relative to existing homes as builders face higher costs for labour, land and materials," the NAHB Chief Economist David Crowe said.

"Historically low mortgage rates, steady job gains, improved household formations and significant pent up demand all point to a gradual upward trend for housing in the year ahead," he added.

Iranian Oil Minister Bijan Zanganeh said on Tuesday that the country would not agree to freeze its oil production at January levels, adding that Iran would not give up its share of the global oil market.

"Iran will not relinquish over its market share," he said.

Iran announced on Sunday that it boosted its oil output by 400,000 barrels per day.

U.S. stock-index futures rose.

Global Stocks:

FTSE 5,847.16 +22.88 +0.39%

CAC 4,114.63 -0.62 -0.02%

DAX 9,130.14 -76.70 -0.83%

Nikkei 16,054.43 +31.85 +0.20%

Hang Seng 19,122.08 +203.94 +1.08%

Shanghai Composite 2,837.41 +91.21 +3.32%

Crude oil $29.54 (+0.34%)

Gold $1215.40 (-1.94%)

The New York Federal Reserve released its survey on Tuesday. The NY Fed Empire State manufacturing index rose to -16.64 in February from -19.37 in January, missing expectations for an increase to -10.00.

A reading above zero indicates expansion, while a reading below zero indicates contraction.

"The February 2016 Empire State Manufacturing Survey indicates that business activity continued to decline for New York manufacturers," the New York Federal Reserve said in its report.

The new orders index increased to -11.63 in February from -23.54 in January, while the shipments index climbed to -11.56 from -14.39.

The general business conditions expectations index for the next six months jumped to 14.48 in February from 9.51 in January.

The price-paid index dropped to 2.97 in February from 16.00 in January.

The index for the number of employees rose to -0.99 in February from -13.00 in January.

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

Upgrades:

Goldman Sachs (GS) upgraded to Overweight from Underweight at JP Morgan; target raised to $180 from $170

Procter & Gamble (PG) upgraded to Buy from Neutral at Sterne Agee CRT

Downgrades:

Other:

Barrick Gold (ABX) initiated with a Neutral at Clarkson Platou

USDJPY: 115.00-10 (USD 305m) 116.00 (340m)

EURUSD: 1.0995-1.1000 (EUR 363m) 1.1250 (460m) 1.1275-80 (458m) 1.1375 (498m)

GBPUSD: 1.4425 (GBP 202m)

EURGBP: 0.7650 (EUR 226m)

USDCHF: 1.0000 (USD 298m)

AUDUSD: 0.7070-75 (AUD 293m) 0.7100 (466m) 0.7125 (1.01bn) 0.7250 (1.16bn)

USD/CAD: 1.3400 (USD300m) 1.3500 (200m) 1.3700 (240m)

1.3750 (350m) 1.3890-1.3300 (540m)

AUDJPY: Y82.50(AUD173m) Y82.80(362m)

Statistics Canada released manufacturing shipments on Tuesday. Canadian manufacturing shipments rose 1.2% in December, beating expectations for a 0.7% increase, after a 1.2% increase in November. November's figure was revised up from a 1.0% rise.

The increase was mainly driven by higher motor vehicle and wood products sales. Motor vehicle rose 3.6% in December, while sales of wood products climbed 5.5%.

Inventories decreased 1.6% in December, driven by drops in in aerospace products and parts, petroleum and coal.

In 2015 as whole, manufacturing shipments fell 1.5%. It was the first annual decline since 2009.

Economic calendar (GMT0):

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

00:30 Australia RBA Meeting's Minutes

02:00 China New Loans January 597.8 1800 2510

09:30 United Kingdom Producer Price Index - Input (MoM) January -0.3% Revised From -0.8% -1.4% -0.7%

09:30 United Kingdom Retail prices, Y/Y January 1.2% 1.4% 1.3%

09:30 United Kingdom Producer Price Index - Output (MoM) January -0.3% Revised From -0.2% -0.2% -0.1%

09:30 United Kingdom Producer Price Index - Input (YoY) January -10.4% Revised From -10.8% -8.8% -7.6%

09:30 United Kingdom Producer Price Index - Output (YoY) January -1.4% Revised From -1.2% -0.9% -1.0%

09:30 United Kingdom Retail Price Index, m/m January 0.3% -0.6% -0.7%

09:30 United Kingdom HICP, m/m January 0.1% -0.7% -0.8%

09:30 United Kingdom HICP, Y/Y January 0.2% 0.3% 0.3%

09:30 United Kingdom HICP ex EFAT, Y/Y January 1.4% 1.3% 1.2%

10:00 Eurozone ZEW Economic Sentiment February 22.7 10.3 13.6

10:00 Germany ZEW Survey - Economic Sentiment February 10.2 0 1

The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. economic data. The NAHB housing market index is expected to remain unchanged at 60 in February.

The NY Fed Empire State manufacturing index is expected to rise to -10.0 in February from -19.37 in January.

The euro traded mixed against the U.S. dollar after the release of the weak ZEW economic sentiment data from Germany and the Eurozone. The ZEW Center for European Economic Research released its economic sentiment index for Germany and the Eurozone on Tuesday. Germany's ZEW economic sentiment index declined to 1.0 in February from 10.2 in January, beating expectations for a fall to 0.0.

"The looming slowdown of the world economy and the uncertain consequences of the falling oil price put a strain on the ZEW Indicator of Economic Sentiment. In view of these developments, the concern over an increased credit default risk has already caused stock and bond prices for many banks in Europe, Japan and the US to slump," head of the "International Finance and Financial Management" Research Department at ZEW, Sascha Steffen, said.

Eurozone's ZEW economic sentiment index dropped to 13.6 in February from 22.7 in January, beating expectations for a decline to 10.3.

The British pound traded lower against the U.S. dollar after the release of the U.K. inflation data. The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index rose to 0.3% year-on-year in January from 0.2% in December, in line with expectations. It was the highest reading since January 2015.

The rise was driven by a softer decline in food and fuel prices.

On a monthly basis, U.K. consumer prices dropped 0.8% in January, missing expectations for a 0.7% fall, after a 0.1% gain in December.

The monthly decline was driven by a drop in air fare prices.

Consumer price inflation excluding food, energy, alcohol and tobacco prices decreased to 1.2% year-on-year in January from 1.4% in December, missing expectations for a 1.3% gain.

The consumer price inflation is below the Bank of England's 2% target.

The Canadian dollar traded lower against the U.S. dollar ahead of the release of the manufacturing shipments data from Canada. Canadian manufacturing shipments are expected to rise 0.7% in December, after a 1.0% gain in November.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair declined to $1.4365

USD/JPY: the currency pair fell to Y113.63

The most important news that are expected (GMT0):

13:30 Canada Manufacturing Shipments (MoM) December 1% 0.7%

13:30 U.S. NY Fed Empire State manufacturing index February -19.37 -10

15:00 U.S. NAHB Housing Market Index February 60 60

21:00 U.S. Total Net TIC Flows December -3.2

21:00 U.S. Net Long-term TIC Flows December 31.4

23:50 Japan Core Machinery Orders December -14.4% 4.7%

23:50 Japan Core Machinery Orders, y/y December 1.2% -3.1%

Yandex reported Q4 FY 2015 earnings of RUB 11.24 per share versus RUB 23.44 in Q4 FY 2014 and analysts' consensus of RUB 11.97.

The company's quarterly revenues amounted to RUB 18.094 bln (+23.4% y/y) versus consensus estimate of RUB 17.331 bln.

Yandex also announced the company's ruble-based revenue is expected to grow in the range of 12% to 18% in the full year 2016 compared to 2015.

YNDX rose to $13.07 (+0.93%) in pre-market trading.

EUR/USD

Offers 1.1200 1.1220 1.1235 1.1250 1.1265 1.1285 1.1300 1.1320-25 1.1350

Bids 1.1170 1.1150 1.1130 1.1100 1.1080 1.1065 1.1050

GBP/USD

Offers 1.4520-25 1.4535 1.4550 1.4575-80 1.4600 1.4630 1.4650 1.4675 1.4700

Bids 1.4485 1.4460 1.4440 1.4425 1.4400 1.4385 1.4365 1.4350

EUR/JPY

Offers 127.80 128.00 128.30 128.50 128.75 129.00

Bids 127.30 127.00 126.80 126.50 126.20 126.00 125.80 125.50

EUR/GBP

Offers 0.7720 0.7735 0.7750 0.7775-80 0.7800 0.7825 0.7855-60

Bids 0.7695-0.7700 0.7680 0.7665 0.7650 0.7630 0.7600

USD/JPY

Offers 114.25-30 114.50 114.75-80 115.00 115.25 115.50

Bids 113.80 113.65 113.50 113.30 113.00 112.85 112.50 112.20 112.00

AUD/USD

Offers 0.7180-85 0.7200 0.7220 0.7235 0.7250 0.7275 0.7300

Bids 0.7140 0.7125 0.7100 0.7080 0.7065 0.7050 0.7030 0.7000

Stock indices traded mixed after the release of the weak ZEW economic sentiment data from Germany and the Eurozone. The ZEW Center for European Economic Research released its economic sentiment index for Germany and the Eurozone on Tuesday. Germany's ZEW economic sentiment index declined to 1.0 in February from 10.2 in January, beating expectations for a fall to 0.0.

"The looming slowdown of the world economy and the uncertain consequences of the falling oil price put a strain on the ZEW Indicator of Economic Sentiment. In view of these developments, the concern over an increased credit default risk has already caused stock and bond prices for many banks in Europe, Japan and the US to slump," head of the "International Finance and Financial Management" Research Department at ZEW, Sascha Steffen, said.

Eurozone's ZEW economic sentiment index dropped to 13.6 in February from 22.7 in January, beating expectations for a decline to 10.3.

The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index rose to 0.3% year-on-year in January from 0.2% in December, in line with expectations. It was the highest reading since January 2015.

The rise was driven by a softer decline in food and fuel prices.

On a monthly basis, U.K. consumer prices dropped 0.8% in January, missing expectations for a 0.7% fall, after a 0.1% gain in December.

The monthly decline was driven by a drop in air fare prices.

Consumer price inflation excluding food, energy, alcohol and tobacco prices decreased to 1.2% year-on-year in January from 1.4% in December, missing expectations for a 1.3% gain.

The consumer price inflation is below the Bank of England's 2% target.

Current figures:

Name Price Change Change %

FTSE 100 5,825.84 +1.56 +0.03 %

DAX 9,142.93 -63.91 -0.69 %

CAC 40 4,105.58 -9.67 -0.23 %

Russia and Saudi Arabia on Tuesday agreed to freeze the oil production at the level of January if other oil producers join. Energy ministers from Saudi Arabia, Russia, Qatar and Venezuela met in Doha today to discuss the situation in the oil market.

The Saudi Arabian oil minister Ali al-Naimi noted that freezing oil production at January levels was an adequate measure, adding that new measures of stabilisation could be considered in the next few months.

The Italian statistical office Istat released its trade data for Italy on Tuesday. Italy' trade surplus widened to €6.02 billion in December from €4.00 billion in November. November's figure was revised down €4.41 billion.

Exports climbed 3.0% year-on-year in December, while imports increased 2.6%.

On a monthly basis, exports fell a seasonally-adjusted 2.2% in December, while imports were down 3.5%.

The seasonally-adjusted trade surplus with the EU was €1.18 billion in December, while the trade surplus with non-EU countries was €3.41 billion.

The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index rose to 0.3% year-on-year in January from 0.2% in December, in line with expectations. It was the highest reading since January 2015.

The rise was driven by a softer decline in food and fuel prices.

On a monthly basis, U.K. consumer prices dropped 0.8% in January, missing expectations for a 0.7% fall, after a 0.1% gain in December.

The monthly decline was driven by a drop in air fare prices.

Consumer price inflation excluding food, energy, alcohol and tobacco prices decreased to 1.2% year-on-year in January from 1.4% in December, missing expectations for a 1.3% gain.

The Retail Prices Index climbed to 1.3% year-on-year in January from 1.2% in December, missing expectations for an increase to 1.4%.

The consumer price inflation is below the Bank of England's 2% target.

The ZEW Center for European Economic Research released its economic sentiment index for Germany and the Eurozone on Tuesday. Germany's ZEW economic sentiment index declined to 1.0 in February from 10.2 in January, beating expectations for a fall to 0.0.

The assessment of the current situation in Germany declined by 7.4 points to 52.3 points.

"The looming slowdown of the world economy and the uncertain consequences of the falling oil price put a strain on the ZEW Indicator of Economic Sentiment. In view of these developments, the concern over an increased credit default risk has already caused stock and bond prices for many banks in Europe, Japan and the US to slump," head of the "International Finance and Financial Management" Research Department at ZEW, Sascha Steffen, said.

Eurozone's ZEW economic sentiment index dropped to 13.6 in February from 22.7 in January, beating expectations for a decline to 10.3.

The assessment of the current situation in the Eurozone fell by 0.5 points to -8.0 points.

Japanese Finance Minister Taro Aso said on Tuesday that the government will not implement additional economic policy after the Japanese economy contracted in the fourth quarter of 2015.

He also said that the recent turmoil in financial markets was driven by global risk aversion.

The Reserve Bank of Australia (RBA) released its minutes from February monetary policy meeting on Tuesday. The RBA said that the Australian labour market improved in 2015, while household consumption increased.

The Australian inflation remained at low levels, the RBA said.

According to the central bank, low interest rates supported growth in household consumption and dwelling investment, while the weak Australian dollar boosted demand for domestic production.

Members said that the global growth would be supported by accommodative monetary policies and lower oil prices.

The central bank noted that it could ease monetary policy further if needed, the minutes said.

The RBA kept unchanged its interest rate at 2.00% in February.

Statistics New Zealand released retail sales data on late Monday evening. Retail sales in New Zealand climbed 1.2% in the fourth quarter, missing expectations for a 1.4% rise, after a 1.5% gain in the third quarter. The third quarter's figure was revised down from a 1.6% increase.

The increase was mainly driven by a rise in hardware, building, and garden supplies, which jumped 5.3% in the fourth quarter.

On a yearly basis, retail sales rose 5.3% in the fourth quarter, exceeding expectations for a 5.2% gain, after a 5.7% increase in the third quarter.

The People's Bank of China (PBoC) released its new loans data on Tuesday. New loans in local currency in China were 2,510 billion yuan in January, up from December's 597.8 billion yuan and exceeding expectations of 1,800 billion yuan.

M2 money supply jumped by 14.0% year-on-year in January, after a 13.3% gain in December.

Total social financing increased to 3.42 trillion yuan in January from 1.82 trillion yuan in December.

USD/JPY: 115.00-10 (USD 305m) 116.00 (340m)

EUR/USD: 1.0995-1.1000 (EUR 363m) 1.1250 (460m) 1.1275-80 (458m) 1.1375 (498m)

GBP/USD: 1.4425 (GBP 202m)

EUR/GBP: 0.7650 (EUR 226m)

USD/CHF: 1.0000 (USD 298m)

AUD/USD: 0.7070-75 (AUD 293m) 0.7100 (466m) 0.7125 (1.01bn) 0.7250 (1.16bn)

USD/CAD: 1.3400 (USD300m) 1.3500 (200m) 1.3700 (240m)1.3750 (350m) 1.3890-1.3300 (540m)

AUD/JPY: Y82.50(AUD173m) Y82.80(362m)

Bloomberg reported, using data released by the China Banking Regulatory Commission (CBRC) on Monday, that bad-loan ratio in China rose to 1.67% of assets in 2015 from 1.25% in 2014, while the industry's bad-loan coverage ratio fell to 181% from more than 200% a year earlier.

The Bank of England's (BoE) Monetary Policy Committee (MPC) member Ian McCafferty said in an interview with The Wall Street Journal on Monday that there is no urgency to raise interest rates in the U.K. as wage growth slowed.

"I think an immediate rate rise isn't as necessary as I had felt last autumn," he said.

All MPC members voted this month to keep the central bank's monetary policy unchanged. Ian McCafferty, who voted to hike interest rate by 0.25% since August 2015, changed his mind.

McCafferty noted that the U.K. economy is still healthy, while he expected consumer spending to grow solidly.

February 16

Before the Open:

Yandex N.V. (YNDX). Consensus EPS $11.97, Consensus Revenue $17331.03 mln

February 17

After the Close:

Barrick Gold (ABX). Consensus EPS $0.06, Consensus Revenue $2214.79 mln

February 18

Before the Open:

Wal-Mart (WMT). Consensus EPS $1.43, Consensus Revenue $130491.71 mln

February 19

Before the Open:

Deere (DE). Consensus EPS $0.70, Consensus Revenue $4895.59 mln

Economic calendar (GMT0):

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

00:30 Australia RBA Meeting's Minutes

02:00 China New Loans January 597.8 1800 2510

The euro declined slightly ahead of euro zone consumer confidence data. Economists expect to see a decline amid market turbulence in February. Market participants are also waiting for minutes of January ECB meeting. The central bank is expected to add stimulus in March, that's why the minutes will be studied carefully.

The New Zealand dollar dropped after the Reserve Bank of New Zealand published its inflation expectations. The index came in at 1.6% in the first quarter of 2016 compared to its previous reading of 1.9%. This index reflects business managers' expectations regarding the annualized CPI over a two-year period of time. Higher expectations may provoke rate increases. Lower expectations are a negative factor for the NZD. The country's retail sales data were released today. Retail sales rose by 1.2% in the fourth quarter of 2015 missing expectations for a 1.4% rise.

Global Dairy Trade auction will take place at 12:00 GMT today. Milk powder is New Zealand's key export product. Analysts expect prices to fall by about 8%. This would weigh on the New Zealand dollar.

The yen declined after Japanese Prime Minister Shinzo Abe said that excessive currency volatility was undesirable noting the yen's rally last week. He added that Tokyo would take steps if needed.

EUR/USD: the pair fluctuated within $1.1145-80 in Asian trade

USD/JPY: the pair traded within Y111.30-85

GBP/USD: the pair traded within $1.4415-55

The most important news that are expected (GMT0):

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

09:30 United Kingdom Producer Price Index - Input (MoM) January -0.8% -1.4%

09:30 United Kingdom Retail prices, Y/Y January 1.2% 1.4%

09:30 United Kingdom Producer Price Index - Output (MoM) January -0.2% -0.2%

09:30 United Kingdom Producer Price Index - Input (YoY) January -10.8% -8.8%

09:30 United Kingdom Producer Price Index - Output (YoY) January -1.2% -0.9%

09:30 United Kingdom Retail Price Index, m/m January 0.3% -0.6%

09:30 United Kingdom HICP, m/m January 0.1% -0.7%

09:30 United Kingdom HICP, Y/Y January 0.2% 0.3%

09:30 United Kingdom HICP ex EFAT, Y/Y January 1.4% 1.3%

10:00 Eurozone ZEW Economic Sentiment February 22.7 10.3

10:00 Germany ZEW Survey - Economic Sentiment February 10.2 0

13:30 Canada Manufacturing Shipments (MoM) December 1% 0.7%

13:30 U.S. NY Fed Empire State manufacturing index February -19.37 -10

15:00 U.S. NAHB Housing Market Index February 60 60

21:00 U.S. Total Net TIC Flows December -3.2

21:00 U.S. Net Long-term TIC Flows December 31.4

23:30 Australia Leading Index January -0.3%

23:50 Japan Core Machinery Orders December -14.4% 4.7%

23:50 Japan Core Machinery Orders, y/y December 1.2% -3.1%

West Texas Intermediate futures for March delivery rallied to $30.74 (+4.42%), while Brent crude jumped to $34.70 (+3.92%) amid hopes for cooperation between producers. Anonymous sources said Saudi Arabia's oil minister Ali Al Naimi will meet Russia's Alexander Novak in Qatar later today. The agenda of the meeting is unknown.

Public finances in Saudi Arabia and other Gulf countries suffered severely, which raises expectations for a deal between producers.

However some analysts are skeptical about output cuts. "We continue to believe that if prices were to be artificially supported with production cuts it would only give more expensive forms of production more room to breathe and would only solve the problem in the short term," Phillip Futures said.

EUR / USD

Resistance levels (open interest**, contracts)

$1.1354 (4273)

$1.1318 (3025)

$1.1277 (1501)

Price at time of writing this review: $1.1152

Support levels (open interest**, contracts):

$1.1110 (4413)

$1.1045 (4713)

$1.1008 (2680)

Comments:

- Overall open interest on the CALL options with the expiration date March, 4 is 61954 contracts, with the maximum number of contracts with strike price $1,1000 (5069);

- Overall open interest on the PUT options with the expiration date March, 4 is 90671 contracts, with the maximum number of contracts with strike price $1,1100 (7676);

- The ratio of PUT/CALL was 1.46 versus 1.42 from the previous trading day according to data from February, 12

GBP/USD

Resistance levels (open interest**, contracts)

$1.4708 (1287)

$1.4611 (1100)

$1.4516 (1193)

Price at time of writing this review: $1.4527

Support levels (open interest**, contracts):

$1.4390 (995)

$1.4293 (2087)

$1.4195 (1915)

Comments:

- Overall open interest on the CALL options with the expiration date March, 4 is 26293 contracts, with the maximum number of contracts with strike price $1,4650 (1664);

- Overall open interest on the PUT options with the expiration date March, 4 is 24973 contracts, with the maximum number of contracts with strike price $1,4350 (2936);

- The ratio of PUT/CALL was 0.95 versus 0.93 from the previous trading day according to data from February, 12

* - 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.

Gold fell to $1,196.40 (-3.47%) as risk appetite and higher stocks decreased demand for the precious metal. Goldman Sachs said it expects prices to decline further with a three-month target of $1,100 per ounce, while a 12-month target stands at $1,000. Some analysts say that the latest declines were inevitable after a fast increase last week.

U.S. stock markets were on holiday on Monday.

This morning in Asia Hong Kong Hang Seng gained 1.78%, or 337.33 points, to 19,255.47. China Shanghai Composite Index surged 3.18%, or 87.36 points, to 2,833.56. Meanwhile the Nikkei rose 0.91%, or 146.41 points, to 16,168.99.

Asian stocks rallied. Higher oil prices and stabilizing Chinese markets improved risk sentiment and persuaded investors to return to stocks.

Japanese stocks declined at the beginning of the session, but started to gain later. Some experts explain this situation by technical factors. By Friday Japanese indices had lost about 20-25% since the beginning of the year, which was enough for supply and demand to start to balance. A weaker yen supported exporters.

(raw materials / closing price /% change)

Oil 29.76 +10.59%

Gold 1,209.40 -2.42%

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

Nikkei 225 16,022.58 +1,069.97 +7.16 %

Hang Seng 18,918.14 +598.56 +3.27 %

Shanghai Composite 2,746.2 -17.30 -0.63 %

FTSE 100 5,824.28 +116.68 +2.04 %

CAC 40 4,115.25 +120.19 +3.01 %

Xetra DAX 9,206.84 +239.33 +2.67 %

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

EUR/USD $1,1154 -0,90%

GBP/USD $1,4433 -0,51%

USD/CHF Chf0,9871 +1,09%

USD/JPY Y114,58 +1,13%

EUR/JPY Y127,81 +0,25%

GBP/JPY Y165,36 +0,62%

AUD/USD $0,7136 +0,52%

NZD/USD $0,6647 +0,33%

USD/CAD C$1,3832 -0,21%

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

00:30 Australia RBA Meeting's Minutes

09:30 United Kingdom Producer Price Index - Input (MoM) January -0.8% -1.4%

09:30 United Kingdom Retail prices, Y/Y January 1.2% 1.4%

09:30 United Kingdom Producer Price Index - Output (MoM) January -0.2% -0.3%

09:30 United Kingdom Producer Price Index - Input (YoY) January -10.8% -8.8%

09:30 United Kingdom Producer Price Index - Output (YoY) January -1.2% -0.9%

09:30 United Kingdom Retail Price Index, m/m January 0.3% -0.6%

09:30 United Kingdom HICP, m/m January 0.1% -0.7%

09:30 United Kingdom HICP, Y/Y January 0.2% 0.3%

09:30 United Kingdom HICP ex EFAT, Y/Y January 1.4% 1.3%

10:00 Eurozone ZEW Economic Sentiment February 22.7

10:00 Germany ZEW Survey - Economic Sentiment February 10.2 0

13:30 Canada Manufacturing Shipments (MoM) December 1% 0.8%

13:30 U.S. NY Fed Empire State manufacturing index February -19.37 -10

15:00 U.S. NAHB Housing Market Index February 60 60

21:00 U.S. Total Net TIC Flows December -3.2

21:00 U.S. Net Long-term TIC Flows December 31.4

23:30 Australia Leading Index January -0.3%

23:50 Japan Core Machinery Orders December -14.4% 4.7%

23:50 Japan Core Machinery Orders, y/y December 1.2% -3.1%