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

EUR/USD $1,3637 -0,05%

GBP/USD $1,6449 +0,30%

USD/CHF Chf0,8981 +0,17%

USD/JPY Y102,62 +0,36%

EUR/JPY Y139,94 +0,30%

GBP/JPY Y168,81 +0,67%

AUD/USD $0,9036 +0,97%

NZD/USD $0,8319 +0,65%

USD/CAD C$1,1007 -0,44%

02:00 China Trade Balance, bln January 25.6 24.2            

02:00 China New Loans January 483 1100

06:00 Japan Prelim Machine Tool Orders, y/y January +28.1%               

08:15 Switzerland Consumer Price Index (MoM) January -0.2% -0.2%   

08:15 Switzerland Consumer Price Index (YoY) January +0.1% +0.1%   

10:00 Eurozone Industrial production, (MoM) December +1.8% -0.2%    

10:00 Eurozone Industrial Production (YoY) December +3.0% +1.8%     

10:30 United Kingdom Bank of England Quarterly Inflation Report Quarter I                              

10:30 United Kingdom BOE Gov Mark Carney Speaks                                        

15:30 Eurozone ECB President Mario Draghi Speaks                                           

15:30 U.S. Crude Oil Inventories February +0.4                 

19:00 U.S. Federal budget January 53.2 -28.2       

The euro exchange rate showed marked fluctuations against the dollar , but was unable to hold its positions and fell back to the lows of the session. The main focus of market participants was focused on the speech of Fed Chairman Janet Yellen . Speaking in the U.S. Congress with the semi-annual report on monetary policy , she noted that the situation in the labor market improved, but the economy still has a long recovery process. Yellen also supported the current policy of the FOMC and suggested that the Fed will continue at a moderate pace gradually curtail asset purchase program QE. She also noted that the achievement of targets will not mean automatic increase the federal funds rate . Rather, such progress would be to encourage the Central Bank to analyze the economic situation in order to determine at what stage the rate increase is justified. Yellen said that he sees " significant risks to the U.S. economic outlook " by the tension in the emerging markets , and did not consider politics QE factor that contributes to the formation of bubbles in the stock market , saying that the share price has risen from the average historical values ​​only slightly .

During the question and answer session in Congress Yellen had to touch on rates and QE minimize the likely impact on the process of weakening labor market and the recent disappointing performance report NFP. She admitted that the January employment data did not meet its forecasts , but urged not to jump to hasty conclusions.

Yellen recalled abnormal frosts , which could adversely affect the performance report. "I think we need to understand slowly significance of these figures," on the eve of the March Fed meeting, she said, adding that the only significant change projections will determine the pace of change in folding QE.

Pound retreated from a session high against the U.S. dollar , but continues to trade with a moderate increase . The main growth driver was the increase in the forecast for economic growth of the Confederation of British Industry , which referred to the fact that the economy gain strength in business investment on the background of low borrowing costs and ready to grow this year in net trade . However , CBI has expressed concern about the political uncertainty at a time as a nation enters into a long campaign. Lobbying business projects will grow by 2.6 percent this year , compared with the November forecast of 2.4 per cent , reflecting stronger than expected economic performance in late 2013 .

For 2015 CBI expects expansion of 2.5 percent , it is slightly smaller compared to the forecast of 2.6 per cent in November. Forecasts are generally in accordance with a wide range of estimates of forecasters . It is expected that in the quarterly measurement of gross domestic product growth at 0.6 percent this year , and will be recorded quarterly growth rates ranging from 0.6 percent to 0.7 percent in 2015.

Besides a couple of words influenced Fed chief Janet Yellen .

The yen fell against the dollar , reaching with almost two-week low . Experts note that the demand for USD / JPY pair has returned thanks Yellen . As announced today , Fed Chairman Janet Yellen , speaking in the U.S. Congress with its first semi-annual report on monetary policy , the labor market situation has improved , but the economy still has a long recovery process. Thus, the market received mixed signals , resulting in market volatility .

USD/JPY Y101.00, Y101.25, Y101.75-80, Y102.00, Y102.20, Y102.35-40, Y102.50-55, Y102.75

EUR/USD $1.3450, $1.3500, $1.3525, $1.3610, $1.3635, $1.3745

GBP/USD $1.6200, $1.6250, $1.6300, $1.6400

EUR/GBP stg0.8200, stg0.8235

USD/CHF Chf0.9000, Chf0.9055

AUD/JPY $0.8850, $0.8870-75, $0.8900, $0.9000

NZD/USD $0.8100, $0.8210

USD/CAD Cad1.0900, Cad1.0970, Cad1.1000

00:01 United Kingdom BRC Retail Sales Monitor y/y January +0.4% +0.8% +3.9%

00:30 Australia National Australia Bank's Business Confidence January 6 8

00:30 Australia House Price Index (QoQ) Quarter IV +2.4% Revised From +1.9% +3.2% +3.4%

00:30 Australia House Price Index (YoY) Quarter IV +8.0% Revised From +7.6% +8.6% +9.3%

00:30 Australia Home Loans December +1.4% Revised From +1.1% +0.9% -1.9%

10:00 United Kingdom BOE Deputy Governor Andrew Bailey Speaks

The euro exchange rate is moderately higher against the dollar , while investors expect the Fed speeches new head Janet Yellen . Based on the past comments and guesses analysts, we can assume that Yellen is likely to defend the current policy stance and remind you that the bar to change the incentive plan folding quite high , although dependent on the data. Immediately before Yellen will speak Philadelphia Fed President Charles Plosser , and it will probably pave the way in calling for a drastic reduction of bond purchases , while the unemployment situation remains favorable . Nevertheless , reducing the Fed's program is the focus of only a month later after it was launched . Submitted since economic data has not been unequivocally favorable. So this is the first performance for Yellen may become very active.

The British pound strengthened against the U.S. dollar , amid growth in retail sales . According to a survey released Tuesday by the British Retail Consortium (BRC), retail sales in the UK rose in January. BRC Retail Sales Monitor showed that overall retail sales rose by 5.4 percent compared with a year earlier.

Sales at stores that have been open a year or more , grew by 3.9 per cent per annum, said the BRC. Sales growth in same stores was much stronger than in December (0.4 percent ) , and is the highest since April 2011 , when sales growth was 5.2 percent . Sales growth in general in December was 1.8 percent, and it was with a maximum value in March 2010

Non-food sales rose 5.1 percent in the last quarter of 2013 , while sales of food rose by only 0.8 percent in Q4. Online non-food sales grew by 19 percent in January.

EUR / USD: during the European session, the pair rose to $ 1.3677

GBP / USD: during the European session, the pair rose to $ 1.6468

USD / JPY: during the European session, the pair rose to Y102.46

At 15:00 GMT indicates Fed chairman Janet Yellen . At 15:00 GMT the United States will vacancy rates and labor turnover from the Bureau of Labor Statistics for December. At 23:30 GMT , Australia will publish consumer confidence index from Westpac in February. At 23:50 GMT , Japan will release the change in orders for machinery and equipment, the index of activity in the services sector in December.

USD/JPY Y101.00, Y101.25, Y101.75-80, Y102.00, Y102.20, Y102.35-40, Y102.50-55, Y102.75

EUR/USD $1.3450, $1.3500, $1.3525, $1.3610, $1.3635, $1.3745

GBP/USD $1.6200, $1.6250, $1.6300, $1.6400

EUR/GBP stg0.8200, stg0.8235

USD/CHF Chf0.9000, Chf0.9055

AUD/JPY $0.8850, $0.8870-75, $0.8900, $0.9000

NZD/USD $0.8100, $0.8210

USD/CAD Cad1.0900, Cad1.0970, Cad1.1000

00:00 Japan Bank holiday

00:01 United Kingdom BRC Retail Sales Monitor y/y January +0.4% +0.8% +3.9%

00:30 Australia National Australia Bank's Business Confidence January 6 8

00:30 Australia House Price Index (QoQ) Quarter IV +2.4% Revised From +1.9% +3.2% +3.4%

00:30 Australia House Price Index (YoY) Quarter IV +8.0% Revised From +7.6% +8.6% +9.3%

00:30 Australia Home Loans December +1.4% Revised From +1.1% +0.9% -1.9%

Australia’s dollar reached a four-week high after home prices and business sentiment climbed. “The Aussie dollar cracked above the 90 level on the back of the business confidence data, and generally, sentiment for the currency is becoming less negative,” said Mitul Kotecha, the Hong Kong-based global head of foreign-exchange strategy at Credit Agricole Corporate & Investment Bank SA. “The bias for the U.S. dollar is slightly weaker, and I think it looks like it’s going to be under pressure ahead of Yellen’s speech.”

The greenback fell against the yen before Federal Reserve Chairman Janet Yellen speaks to U.S. lawmakers today. Yellen will speak before Congress today for the first time since being sworn in as Fed chairman on Feb. 3. The Federal Open Market Committee said last month it will cut monthly bond purchases by $10 billion to $65 billion, citing labor-market indicators that “were mixed but on balance showed further improvement” and economic growth that has “picked up in recent quarters.” Policy makers next meet on March 18-19.

Data this week may show U.S. retail sales stalled and Chinese import growth slowed. Retail sales probably stagnated in January after a 0.2 percent gain the month before, according to the median estimate of economists surveyed by Bloomberg News before the U.S. Commerce Department reports the data on Feb. 13.

Japan’s financial markets are closed today for a national holiday.

EUR / USD: during the Asian session, the pair rose to $ 1.3680

GBP / USD: during the Asian session, the pair rose to $ 1.6430

USD / JPY: on Asian session the pair traded in the range of Y102.05-30

There is a full calendar on both sides of the Atlantic Tuesday, although largely dominated by central bank appearances over data. The standout feature is undoubtedly the first appearance on Capitol Hill of Janet Yellen as new Fed Chair. The European calendar kicks off at 0800GMT, with the release of the Belgian National Bank annual report. At 1130GMT, Euro-Working Group Chair ThomasWieser will speak on Europe's Financial Architecture, in Frankfurt. ECB Governing Council member Jens Weidmann is slated to speak on "From dentists to economists - the importance of a consistent monetary regulation of framework", in Karlsruhe, Germany, starting at 1500GMT.