Economic calendar (GMT0):

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

00:30 Australia Gross Domestic Product (YoY) Quarter III +3.1% +3.1% +2.7%

00:30 Australia Gross Domestic Product (QoQ) Quarter III +0.5% +0.7% +0.3%

01:00 China Non-Manufacturing PMI November 53.8 53.9

01:45 China HSBC Services PMI November 52.9 53

06:45 Switzerland Gross Domestic Product (YoY) Quarter III +0.6% +1.4% +0.6%

06:45 Switzerland Gross Domestic Product (QoQ) Quarter III 0.0% +0.3% +1.9%

The U.S. dollar traded stronger against its major peers after construction data beat forecasts. Yesterday The Federal Reserve Vice Chairman Stanley Fischer said at a forum in Washington on Tuesday that the Fed could delay its interest rate hike if inflation declines. He added that interest rate hike would be driven by the economic data and that low oil prices are a boon to the U.S. economy. The Federal Reserve Chair Janet Yellen said nothing about current economic situation and monetary policy on Tuesday. Markets are awaiting the ADP Employment Report, Nonfarm Productivity, the ISM Non-Manufacturing Index and speeches of FOMC members later in the day.

The Australian dollar drooped against the greenback and declined to a four-year low after the country's GDP data showed an increase of +0.3% quarter on quarter well below the expected +0.7% and oil price increased. China's Non-Manufacturing PMI for November rose to 53.9 from a previous reading of 53.8 and the HSBC Services PMI added 0.1 to 53.0. China is Australia's number one trade partner. Yesterday the Royal Bank of Australia announced to keep interest rates at a record low of 2.5% to boost the economy facing a high currency and declining export prices.

The New Zealand dollar weakened against the U.S. dollar after a decline in milk prices. At the Fonterra Cooperative Group Ltd. auction prices fell to USD2,229 per metric ton, less than half the early February price of USD5,005.

The Japanese yen lost against the U.S. dollar trading at seven-year lows at USD119.43, the weakest since August 2007 two days after Moody's downgraded Japan's sovereign debt rating. The yen has been under pressure since BoJ's unexpected stimulus program from late October.

EUR/USD: the euro declined against the greenback

USD/JPY: the U.S. dollar traded stronger against the yen

GPB/USD: The British pound traded unchanged against the U.S. dollar

The most important news that are expected (GMT0):

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

08:48 France Services PMI (Finally) November 48.3 48.3

08:53 Germany Services PMI (Finally) November 52.1 52.1

08:58 Eurozone Services PMI (Finally) November 51.3 51.3

09:30 United Kingdom Purchasing Manager Index Services November 56.2 56.6

10:00 Eurozone Retail Sales (YoY) October +0.6% +0.9%

10:00 Eurozone Retail Sales (MoM) October -1.3% +0.6%

12:30 United Kingdom Autumn Forecast Statement

13:15 U.S. ADP Employment Report November 230 223

13:30 U.S. Nonfarm Productivity, q/q (Finally) Quarter III +2.0% +2.2%

14:45 U.S. Services PMI (Finally) November 56.3 56.3

15:00 Canada Bank of Canada Rate 1.00% 1.00%

15:00 Canada BOC Rate Statement

15:00 U.S. ISM Non-Manufacturing November 57.5 57.1

15:30 U.S. Crude Oil Inventories November +1.9

17:30 U.S. FOMC Member Charles Plosser Speaks

19:00 U.S. Fed's Beige Book

19:00 U.S. FOMC Member Brainard Speaks

22:30 Canada BOC Gov Stephen Poloz Speaks