The yen rose against the dollar, recording with the first fortified in the past five days as an opposition representative said that his party would oppose a candidate for the position of Deputy Governor of the Bank of Japan Iwata, which investors view as the one who stands for easing monetary policy .

The euro fell against the dollar, losing previously won positions on the background that the German Finance Minister Schaeuble said that the lower house

Bundestag may decide to Cyprus next week. The head of the Bundesbank, Weidmann said that inflation remains under control, which was yet

another confirmation that the ECB may decide to further stimulation. We also add that today's report Destatis showed that the annual inflation rate in Germany was 1.5% in February against 1.7% in January. The result coincided with forecasts and was the lowest since November 2010. In monthly terms, rose by 0.6% in February against a 0.5% decline in January, as expected.

The pound reached its weakest level since June 2010 against the dollar after data showed that industrial production unexpectedly declined.

National Bureau of Statistics of the United Kingdom reported that industrial production in January fell by 1.2% compared to the previous month and by 2.9% compared with the same period last year. Reduction in industrial production was due to stop production at another oil field of the North Sea, which damaged oil and gas production, increasing the risk that the economy enters a recession in the third in five years.

Published data were weaker than the forecast of economists, who had expected an increase of 0.1% compared to the previous month and a decrease of 1.1% compared to the same period last year.

The Canadian dollar traded in a range against its U.S. counterpart on concern that strong employment data, which were presented last week, will not be able to put the economy on a sustainable growth path. Recall that, by the end of February the number of employees in Canada rose by a whopping 50,700 people, which was much higher than most analysts' forecasts of 7.8 thousand Note also that such a rebound more than offset the decline of 21,900 jobs, which was recorded in the yanvare.Krome order to add that, compared to the same period last year, employment in Canada has increased by 336,200, or 1.9%. Note that the main driving force that has helped to significantly increase the number of jobs was the service sector, which accounts for the bulk of the Canadian economy. Note that in this area the number of workers increased by 59,300 jobs.

European stocks were little changed, with the Stoxx Europe 600 Index trading near its highest level in 4 1/2 years, as a report showed that U.K. manufacturing output unexpectedly contracted.

The Stoxx 600 added less than 0.1 percent to 295.37 at 4:30 p.m. in London after climbing as much as 0.3 percent and dropping as much as 0.2 percent.

National benchmark indexes advanced in 10 of the 18 western-European markets.

FTSE 100 6,510.62 +6.99 +0.11% CAC 40 3,839.97 +3.70 +0.10% DAX 7,966.12 -18.17 -0.23%

U.K. manufacturing output slipped 1.5 percent in January after increasing a revised 1.5 percent in December, according to a statement from the Office for National Statistics. Economists had predicted the measure would be unchanged. Total industrial production in the European Union’s third-largest economy declined 1.2 percent in January after gaining 1.1 percent in the previous month, separate figures showed. Economists had called for a 0.1 percent increase.

Antofagasta gained 2.9 percent to 1,127 pence after the copper producer controlled by Chile’s Luksic family proposed a dividend of 98.5 cents a share, compared with 44 cents a year earlier. The average analyst estimate had called for a dividend of 58 cents.

SBM Offshore NV surged 21 percent to 12.96 euros, its biggest rally since at least October 1989, after agreeing to pay $470 million to settle a dispute with Talisman Energy Inc. The world’s biggest supplier of floating oil rigs said it will take a provision of $270 million in addition to the $200 million that it set aside in December for its Yme platform in the North Sea.

St. James’s Place lost 3.1 percent to 520 pence. Lloyds sold 102 million shares in the company, leaving the bank with a 37 percent stake. Britain’s biggest mortgage lender said it will make a gain of 400 million pounds ($595 million) from the sale and the revaluation of its remaining holding.

Pirelli retreated 4.2 percent to 8.55 euros after Europe’s third-largest tiremaker forecast earnings before interest and taxes of 810 million euros ($1.1 billion) to 850 million euros in 2013. That compared with the average analyst estimate of 875 million euros.

The price of oil rose above $ 93 a barrel on Tuesday, inspired by the recent rise in equity markets, which was supported by the expected increase in the supply of oil to the U.S..

While the stock markets in Asia today has significantly decreased, while European equities showed a small increase, the index Dow Jones showed another profitable session, which was the seventh consecutive increase in the session.

Many traders believe that large amounts of oil in the United States will hold the price rise. Recall that last week, the Department of Energy said that crude oil is 10.3% higher than last year, and oil in the United States for more than 7 million barrels a day, which is the highest level since the end of 1990 's.

Data for the week ending March 8, was expected to show that oil stocks rose 2.3 million barrels, while gasoline inventories increased by 1.5 million barrels.

Note also that OPEC announced today that raises forecast for oil outside the cartel in 2013, but reduces forecast for the consumption of its oil. In addition, OPEC forecasts increase in oil supply from outside the cartel in 2013 to 1 million barrels a day, and the demand for its oil in the amount of 29.7 million barrels a day, up to 2013 data also showed that oil production in the OPEC February rose to 30.31 million barrels a day. Meanwhile, adding that OPEC keeps its forecast for growth in world oil demand in 2013 at 0.8 million barrels a day.

April futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 92.84 dollars a barrel on the New York Mercantile Exchange.

April futures price for North Sea petroleum mix of mark Brent rose 35 cents to $ 110.40 a barrel on the London Stock Exchange ICE Futures Europe.

Prices of oil futures have increased, rising by almost 1% to $ 1,590 an ounce, after comments from ECB Weidmann, who said that inflationary pressures in the euro area is weakening, which can be seen as a sign of further easing of monetary policy. In addition, he reiterated that monetary policy can not solve the problems of the Eurozone. According to Weidmann is fiscal policy, not monetary policy, will determine the way out of the crisis, while only one monetary policy can not fix the structural problems in Europe and to ensure that the resolution of the debt crisis in the Eurozone. A member of the ECB also spoke of the need to continue reforms in the euro area, saying that in the peripheral countries the process of restructuring and are to be completed. Regarding inflation, Weidmann said that inflation expectations are well anchored. At the same time, lower interest rates, or other measures of the ECB monetary policy will not be decisive in overcoming the debt crisis in the Eurozone.

Note also that the sharp rise in prices for the precious metal has been supported by some physical buying in Asia, after the candidate for the post of Deputy Governor of the Bank of Japan Iwata said that the central bank should continue to conduct quantitative easing in its monetary policy, which aims to termination of deflation.

Further, the data showed today, yesterday gold in the SPDR Gold Trust - which is the largest gold exchange-traded fund in the world, fell to its lowest level in October 2011, reaching the mark with 1,236.729, 1,236.739, compared with the previous session.

April futures price of gold on COMEX has increased, and now stands at 1592.20 dollars per ounce.

Greece's industrial production decreased for the third consecutive month in January, and at a significantly faster rate than in the previous month, as the crisis-stricken economy slipped further into recession, latest data showed.

Industrial production fell 4.8 percent on an annual basis in January, notably faster than the 0.9 percent decrease seen in December, the Hellenic Statistical Authority said. Production has decreased for the third consecutive month.

Mining and quarrying output plunged 13.9 percent annually, and manufacturing production decreased 2.4 percent. There was a 9.3 percent year-on-year decrease in the production of electricity.

Among the main industrial sub-groups, intermediate goods output dropped 3.3 percent from a year earlier, and capital goods production fell by 17.9 percent. Energy output and consumer durables output declined 6.4 percent and 12.4 percent respectively from a year earlier.

On a monthly basis, industrial output fell 6.4 percent in January after falling 2.2 percent in the previous month, data showed.

EUR/USD $1.2950, $1.2975, $1.3000, $1.3050

USD/JPY Y95.00, Y95.50, Y95.60, Y96.00, Y96.40, Y96.50, Y96.75

EUR/JPY Y124.70

GBP/USD $1.4900, $1.4925, $1.4995, $1.5025

GBP/JPY Y142.00

EUR/CHF Chf1.2200, Chf1.2350

AUD/USD $1.0200, $1.0300, $1.0330

AUD/JPY Y96.00

USD/CAD C$1.0280

U.S. stock-index futures slightly fell, indicating that indexes may retreat from reached levels.

Global Stocks:

EUR/USD

Offers $1.3090/100, $1.3060/65, $1.3045/55

Bids $1.2955/50, $1.2935/25, $1.2900, $1.2880, $1.2865-50

GBP/USD

Offers $1.5050/60, $1.5000/10, $1.4980/85, $1.4945/65, $1.4920

Bids $1.4830/20, $1.4800, $1.4790, $1.4760/50

AUD/USD

Offers $1.0400, $1.0380/85, $1.0340/50, $1.0330

Bids $1.0280, $1.0240, $1.0200, $1.0170/60, $1.0150, $1.0120/15

EUR/GBP

Offers stg0.8830, stg0.8800, stg0.8780

Bids stg0.8650, stg0.8575/70

EUR/JPY

Offers Y126.20/30, Y126.10, Y125.80/00, Y125.30/40, Y125.00

Bids Y124.00, Y123.50, Y123.00

USD/JPY

Offers Y97.00, Y96.35/40, Y96.00/10

Bids Y95.30, Y95.10/00, Y94.50

Downgrades:
Cisco Systems (CSCO) downgraded to Hold from Buy at Standpoint Research

Germany's EU harmonized inflation for February was confirmed at 1.8 percent, and that remains below the 2-percent mark, the final data published by the Federal Statistical Office showed Tuesday.

The annual rate eased marginally from 1.9 percent in January. The harmonized index of consumer prices gained 0.8 percent from the prior month, in line with flash estimate.

Inflation based on the consumer price index rose to 1.5 percent as initially estimated from 1.3 percent in December. Compared with January, the consumer price index rose by 0.6 percent in February.

The latest data confirmed the preliminary estimate published on February 28.

European stocks were little changed after a report showed manufacturing output unexpectedly contracted in the U.K. in January. U.S. index futures and Asian shares declined.

U.K. manufacturing output slipped 1.5 percent in January after increasing a revised 1.5 percent in December, the Office for National Statistics said today in London. Economists had predicted the measure would be unchanged. Total industrial production in the European Union’s third-largest economy declined 1.2 percent in January after gaining 1.1 percent in the previous month, separate figures showed. Economists had called for a 0.1 percent increase.

European Union leaders will meet at a summit in Brussels on March 14-15 to discuss the terms of a bailout for Cyprus. These include the nation’s debt sustainability and whether to impose losses on depositors.

St. James’s Place lost 1.6 percent to 528 pence after Lloyds sold 102 million shares in the company, leaving the bank with a 37 percent stake. Britain’s biggest mortgage lender said it will make a gain of 400 million pounds ($593 million) from the sale. Lloyds climbed 2.2 percent to 51.1 pence.

Pirelli retreated 2.4 percent to 8.71 euros after Europe’s third-largest tiremaker forecast earnings before interest and taxes of 810 million euros ($1.1 billion) to 850 million euros. That compared with the average analyst estimate of 875 million euros in a survey.

Antofagasta jumped 4.7 percent to 1,146 pence after the copper producer controlled by Chile’s Luksic family proposed a dividend of 98.5 cents a share, from 44 cents a year earlier. The average analyst estimate had called for a dividend of 58 cents.

FTSE 100 6,502.2 -1.43 -0.02%

CAC 40 3,837.3 +1.03 +0.03%

DAX 7,976.8 -7.49 -0.09%

The UK's trade deficit in goods narrowed unexpectedly in January, the latest figures from the Office for National Statistics showed Tuesday.

The deficit fell to GBP 8.2 billion in January from GBP 8.7 billion in December. This was forecast to increase to GBP 8.95 billion. A year ago, the trade balance recorded a shortfall of GBP 8.1 billion.

According to the statistical office, the decline in deficit was due to an unusually low figure for the balance of trade in oil, with exports up by around GBP 0.3 billion on the previous month and imports down very sharply by more than GBP 1 billion.

At the same time, ONS noted that monthly trade in oil can be volatile. The UK's trade deficit with EU countries widened during the month while trade deficit with non-EU countries narrowed.

Exports of goods decreased 3.5 percent month-on-month to GBP 24.4 billion and imports fell 4.2 percent to GBP 32.6 billion.

The deficit on trade in goods and services was GBP 2.4 billion in January, compared with a deficit of GBP 2.8 billion in December.

U.K.'s industrial production declined unexpectedly by 1.2 percent month-on-month in January, reversing a 1.1 percent rise in December, the Office for National Statistics said Tuesday. Output was forecast to grow 0.1 percent.

Similarly, manufacturing output slipped 1.5 percent, offsetting the 1.5 percent increase seen in December. Economists had forecast output to remain flat in January.

The annual decline in industrial output accelerated to 2.9 percent in January from 2.1 percent in December. Likewise, manufacturing output dropped at a faster pace of 3 percent, following last month's 1.6 percent fall.

- Sold 6-month Letra at avg yield 0.794% (0.859%); Tail 2.6bp (2.1bp)

EUR/USD $1.2950, $1.2975, $1.3000, $1.3050

USD/JPY Y95.00, Y95.50, Y95.60, Y96.00, Y96.40, Y96.50, Y96.75

EUR/JPY Y124.70

GBP/USD $1.4900, $1.4995, $1.5025

GBP/JPY Y142.00

EUR/CHF Chf1.2200, Chf1.2350

AUD/USD $1.0200, $1.0330

AUD/JPY Y96.00

USD/CAD C$1.0280

Asian stocks fell from a 19-month high as Chinese shares extended their decline. Japan Petroleum Exploration Co. surged after Japan confirmed it has extracted frozen natural gas from under the seabed.

Nikkei 225 12,314.81 -34.24 -0.28%

Hang Seng 22,890.6 -200.22 -0.87%

S&P/ASX 200 5,117.87 -29.04 -0.56%

Shanghai Composite 2,286.6 -23.99 -1.04%

China Cosco Holdings Co., the nation’s biggest shipping company, dropped 5.3 percent after Citigroup Inc. said the sale of its logistics unit means the loss of a stable, growing business.

Whitehaven Coal Ltd., Australia’s second-biggest independent coal producer, sank 5.5 percent on government plans for stricter coal mining approvals.

The dollar is trading with little change against the yen, while being close to the maximum values ​​in August 2009, as signs that the U.S. economy is gaining momentum, increased demand for the U.S. currency.

The dollar index (DXY) is trading near the highest level in seven months, as many market participants are awaiting a report on retail sales in the U.S., which is expected to show improvement following February. Also, the attention of traders this week will be focused on data on consumer prices, which are likely to show an increase.

The euro rose against the dollar, after playing with a portion of the losses suffered on Friday. Note that the dynamics of bidding auction results influenced the U.S.. As it became known, the Treasury sold 3-month and 6-month U.S. government bonds, the average yield has declined from 0.11% to 0.095% and from 0.12% to 0.115%, respectively.

The yen traded near a three-week low against the euro after the release of negative statistics from Japan. It is learned that orders for industrial equipment in the country fell by 13% in January in monthly terms, which was the strongest decline in eight months. Analysts had expected a drop of 1.7%. In addition, the monthly results can have a strong influence major equipment orders. In the IV quarter of last year, Japan returned to growth by reducing the yen and the efforts of Prime Minister Shinzo Abe to fight deflation and recession in the country.

Additional pressure on the yen have word candidate to head the Bank of Japan Haruhiko Kuroda, who considers it necessary to pursue a more aggressive monetary policy. According to him, the main objective should be to achieve the inflation rate of 2%

The Canadian dollar was up against most of the most traded currencies, after a report submitted on Friday by the U.S. showed that the number of employees rose much more than expected, prompting speculation that the economic recovery is gaining momentum.

Asian stocks rose, with the regional benchmark index heading for the highest close since August 2011, after U.S. jobs data beat estimates and Japanese exporters gained on a weaker yen.

Nikkei 225 12,349.05 +65.43 +0.53%

Hang Seng 23,090.82 -1.13 0.00%

S&P/ASX 200 5,146.9 +23.46 +0.46%

Shanghai Composite 2,310.59 -8.02 -0.35%

Techtronic Industries Co., a maker of power tools that gets most of its sales in North America, gained 1.4 percent in Hong Kong.

Resona Holdings Inc. and Shinsei Bank Ltd. led gains among Japanese lenders on speculation they may follow Sumitomo Mitsui Trust Holdings Inc. with plans to repay public funds.

Agile Property Holdings Ltd., a Chinese developer, slid 2.2 percent in Hong Kong after Chinese economic reports missed estimates.

European stocks fell from a 4 1/2- year high as Fitch Ratings downgraded Italy and China’s retail sales and industrial output missed forecasts.

The Stoxx Europe 600 Index slipped 0.1 percent to 295.26 at 4:33 p.m. in London. The gauge has still surged 5.6 percent this year as U.S. lawmakers agreed on a compromise budget and optimism grew that central banks around the world will continue stimulus measures to support the economic recovery.

National benchmark indexes fell in 11 of the 18 western European markets.

FTSE 100 6,503.63 +20.05 +0.31% CAC 40 3,836.27 -3.88 -0.10% DAX 7,984.29 -2.18 -0.03%

Fitch cut Italy’s credit rating by one level after the close of equity markets on March 8, as last month’s election produced political paralysis that threatens the country’s ability to respond to a recession and the European debt crisis. The rating company lowered Italy’s government bond rating to BBB+ from A- with a negative outlook. That’s three levels above junk and one higher than Spain.

Storebrand (STB) slid 1.78 kroner to 25.23 kroner as stricter pension rules will require the insurer to set aside as much as 11.5 billion kroner ($2 billion). Life insurance providers in Norway must boost premiums and reserves to meet an increase in life expectancy, the Financial Supervisory Authority said on March 8.

OMV, central Europe’s biggest oil company, declined 1.7 percent to 34.50 euros in Vienna as SocGen downgraded the stock to hold from buy.

Sage Group Plc slipped 2.5 percent to 340.8 pence as Bank of America Corp. downgraded the shares to underperform, the equivalent of a sell rating, from neutral and added the software maker to its least preferred technology stocks.

Atlantia SpA (ATL) fell 3.7 percent to 12.27 euros and Gemina SpA tumbled 6.4 percent to 1.29 euros. Italy’s largest toll-highway operator will pay one share for every nine shares of Gemina, which runs Rome’s airports, in a takeover deal that involves no cash, according to a statement released after the close of trading on March 8.

Ladbrokes surged 6.7 percent to 240.2 pence, the biggest jump since April 2011, after the U.K. operator of more than 2,000 betting shops said Playtech will help develop and expand its digital business. Playtech rose 3.5 percent to 571 pence.

Nordex SE soared 15 percent to 4.44 euros, it’s biggest rally in almost two years. The German wind-turbine maker reported earnings before interest and taxes of 14 million euros ($18.2 million), compared with the 10.5 million-euro average analyst estimate.

Despite the negative start, major U.S. stock indexes finished trading in positive territory.

Indexes started the session in the red, but later managed to retreat from session lows, and moved into the "green" zone. Above all index Dow, which now again renewed its historical maximum.

Note that today the market is dominated by moderate positive sentiment. Investors were encouraged by better-than-expected data on the U.S. labor market and the parallel signals that the Fed will continue to hold in excess of loose monetary policy within a certain period of time. However, the indices remain vulnerable to concerns about U.S. fiscal policy, but they are restrained.

Most components of DOW index closed in plus (20 of 30). Shares of Boeing (BA, +1.90%) advanced more than other components. Shares of Microsoft Corporation (MSFT, -0.79%) fell more than other components

All sectors of the S&P closed in plus. Most growts showed sector of conglomerates (+0.5%).

Dow +48.92 14,445.99 +0.34%

Nasdaq +8.5 3,252.87 +0.26%

00:01 United Kingdom RICS House Price Balance February -4% -1% -6%

00:30 Australia National Australia Bank's Business Confidence February 3 1

05:00 Japan Consumer Confidence February 43.3 43.0 44.3

The yen dropped for a fifth day, extending its losing streak to the longest since November, as Bank of Japan deputy governor nominee Kikuo Iwata said decisive monetary easing is needed. Iwata, an economics professor at Gakushuin University in Tokyo, told lawmakers today that the BOJ can meet its 2 percent inflation target in two years by buying bonds.

The currency reached a 3 1/2-year low as BOJ data showed today that prices for goods paid by companies decreased for an 11th month, highlighting Japan’s entrenched deflation. The BOJ’s corporate goods price index fell 0.1 percent in February from a year earlier, data showed today. The 11th month of declines is the longest since April 2010.

The dollar rose against the euro before a report tomorrow that may show U.S. retail sales improved last month. The Commerce Department will probably say tomorrow that U.S. retail sales increased 0.5 percent in February from a month earlier when it rose 0.1 percent, according to a Bloomberg News survey of economists.

The pound slid toward the lowest since 2010 ahead of U.K. factory data today. U.K. manufacturing production probably stagnated in January following a 1.6 percent jump in December, economists forecast before today’s report.

EUR / USD: during the Asian session the pair fell to $1.3020.

GBP / USD: during the Asian session the pair fell to $1.4885.

USD / JPY: during the Asian session, the pair rose Y96.70.

German inflation data at 0700GMT in an otherwise data light session. All attention on today's release of UK production data at 0930GMT with most preparing for another set of disappointing data (medians IP +0.1% m/m, mfg flat m/m).

Change % Change Last

Oil $91.88 -0.18 -0.20%

Gold $1,579.30 +1.30 +0.08%

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3045 +0,37%

GBP/USD $1,4917 -0,01%

USD/CHF Chf0,9467 -0,54%

USD/JPY Y96,32 +0,27%

EUR/JPY Y125,68 +0,68%

GBP/JPY Y143,65 +0,26%

AUD/USD $1,0273 +0,34%

NZD/USD $0,8267 +0,68%

00:01 United Kingdom RICS House Price Balance February -4% -1%

00:30 Australia National Australia Bank's Business Confidence February 3

05:00 Japan Consumer Confidence February 43.3 43.0

07:00 Germany CPI, m/m (Finally) February +0.6% +0.6%

07:00 Germany CPI, y/y (Finally) February +1.5% +1.5%

09:30 United Kingdom Industrial Production (MoM) January +1.1% +0.1%

09:30 United Kingdom Industrial Production (YoY) January -1.7% -1.1%

09:30 United Kingdom Manufacturing Production (MoM) January +1.6% +0.1%

09:30 United Kingdom Manufacturing Production (YoY) January -1.5% -1.1%

09:30 United Kingdom Trade in goods January -8.9 -8.9

15:00 United Kingdom NIESR GDP Estimate February 0.0%

18:00 U.S. Federal budget February 2.9 -220.0

20:30 U.S. API Crude Oil Inventories March +5.6