Gold $1,330.5 -10.90 -0.81%

ICE Brent Crude Oil $106.23 +0.38 +0.36%

NYMEX Crude Oil $99.43 -1.28 -1.27%

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

Nikkei 14,224.23 -238.29 -1.65%

Hang Seng 21,182.16 -386.53 -1.79%

Shanghai Composite 1,993.48 -28.26 -1.40%

S&P 500 1,872.01 +11.24 +0.60%

NASDAQ 4,319.29 +11.68 +0.27%

Dow 16,331.05 +108.88 +0.67%

FTSE 6,542.44 -30.69 -0.47%

CAC 4,327.91 +19.85 +0.46%

DAX 9,296.12 +19.07 +0.21%

EUR/USD $1,3780 -0,27%

GBP/USD $1,6506 -0,15%

USD/CHF Chf0,8836 +0,20%

USD/JPY Y102,41+0,03%

EUR/JPY Y141,10 -0,26%

GBP/JPY Y169,02 -0,13%

AUD/USD $0,9033 +0,01%

NZD/USD $0,8530 -0,08%

USD/CAD C$1,1239 0,00%

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

00:00 Japan Bank holiday                 

09:00 Eurozone European Council Meeting                 

09:00 Eurozone EU Economic Summit                 

09:00 Eurozone Current account, adjusted, bln January 21.3 18.4     

09:30 United Kingdom PSNB, bln February -6.4 7.8     

12:30 Canada Retail Sales, m/m January -1.8% +0.8%     

12:30 Canada Retail Sales ex Autos, m/m January -1.4% +0.9%     

12:30 Canada Consumer Price Index m/m February +0.3% +0.6%     

12:30 Canada Consumer price index, y/y February +1.5% +0.9%     

12:30 Canada Bank of Canada Consumer Price Index Core, m/m February +0.2% +0.5%     

12:30 Canada Bank of Canada Consumer Price Index Core, y/y February +1.4% +1.1%     

15:00 Eurozone Consumer Confidence March -12.7 -12.3     

17:45 U.S. FOMC Member Richard Fisher Speaks                 

20:30 United Kingdom BOE Chief Economist Spencer Dale Speaks                 

20:30 U.S. FOMC Member Narayana Kocherlakota                 

22:30 U.S. FOMC Member Jeremy Stein Speaks

The U.S. dollar continued to strengthen against the euro and the yen, as investors take into account the possibility of raising interest rates earlier than expected before.

Data released in the U.S. as a whole were positive. The index of leading U.S. economic indicators rose in February 2014 by 0.5 %, according to a research organization Conference Board, which calculates . Analysts on average had forecast a rise of 0.3%. According to revised data , in January index increased by 0.1 % rather than 0.3%, as previously reported.

The index of business activity in the district of Philadelphia also exceeded all forecasts. This figure soared in March to 9 points from minus 6.3 points in February , according to the Federal Reserve Bank ( FRB ) of Philadelphia. Analysts on average expect its growth to just 4.2 points .

The number of people who first applied for unemployment benefits , rose slightly last week , but was lower than predicted by most experts. The Labor Department said that for the week ending March 15 , the number of initial claims for unemployment benefits rose by 5,000 to a seasonally adjusted , while reaching 320 thousand Economists had expected the value of this ratio will rise to 327 thousand also add that the result for the previous week appeared unchanged. Analyst Department of Labor said that there were no special factors that could have an impact on the overall result . Meanwhile, it was reported that more important indicator that " aligns " weekly volatility - the average number of calls in the last four weeks , down by 3.5 thousand to 327 thousand It was the lowest since the end of November.

Sales in the secondary market fell slightly in February , a sign of slow recovery. Experts note that the decline was associated with unusually cold weather and deteriorating housing affordability . National Association of Realtors said that seasonally adjusted sales of existing homes fell in February by 0.4 % to an annual rate with 4.6 million units, and recorded six decline over the past seven months. Many analysts expect that sales will increase to 4.65 million from 4.62 million in January . We add that the figure for January has not been revised .

On the eve of the dollar rose by almost a percentage after Fed Chairman Janet Iellen at the press conference suggested that a rate hike may take place within six months after the central bank to terminate the bond buyback program . Rising interest rates may increase the investment attractiveness of the currency.

The Fed announced a reduction in the monthly volume of redemption of bonds at 10 billion dollars, and changed the conditions under which interest rates will remain low . The threshold level of unemployment has been canceled. Rally dollar corresponds to increase of yield on 10-year bonds . The dollar index DXY rose from 80.03 to 80.20 .

Swiss franc has fallen markedly against the dollar, which was due to yesterday's Fed decision , and today's announcement SNB . Note that the Swiss National Bank confirmed its intention to intervene in currency markets to prevent the strengthening of the franc. We add that the lower limit of the pair EUR / CHF remains at CHF1, 20. Bank called restriction rate " necessary tool " containment pressure on the franc . SNB also upheld the 3 -month interest rate range LIBOR 0,0% -0,25%, that is fixed by 11 consecutive months. Decision is consistent with economists' expectations . Bank noted the continuing high rate limit for the franc and EUR / CHF continues to be an essential tool to avoid undesirable tightening of monetary conditions in the event of renewed upward pressure on the Swiss franc. SNB also said it expects GDP growth in 2014 of around 2 %. Meanwhile, it became known about lowering the inflation outlook to 0.0 % in 2014 from 0.2% previously . Inflation forecast for 2015 was 0.4 %, compared with 0.6 % previously .

Most European stocks declined as investors weighed Federal Reserve Chair Janet Yellen’s remark that benchmark interest rates could rise about six months after the central bank ends bond purchases.

The Stoxx Europe 600 Index added less than 0.1 percent to 327.67 at the close of trading, as two shares fell for every one that rose. The benchmark gauge has dropped 0.2 percent in 2014, after two years of gains, as the Fed began trimming its asset buying by $10 billion a month and a conflict in Ukraine led to tensions between Russia and the U.S.

Yellen, speaking after chairing a Federal Open Market Committee meeting for the first time, said policy makers have stopped linking the interest-rate policy to an employment threshold. Even so, pressed to define how long rates will remain low after quantitative easing ends, she said the term would be “on the order of around six months.”

Quarterly Fed forecasts also showed more officials predicting that the benchmark rate, now close to zero, will rise to at least 1 percent at the end of 2015 and 2.25 percent a year later. The central bank said it would trim its monthly bond purchases by $10 billion to $55 billion.

National benchmark indexes dropped in 11 of the 18 markets in western Europe. Germany’s DAX gained 0.2 percent, the U.K.’s FTSE 100 slid 0.5 percent and France’s CAC 40 added 0.5 percent.

Glaxo dropped 1.6 percent to 1,629 pence. The drugmaker said its MAGE-A3 treatment failed to meet its objectives in a clinical trial. The medicine didn’t significantly extend disease-free survival in tests compared with a placebo.

Intu Properties Plc fell 4.6 percent to 308.3 pence. The U.K.’s largest shopping-mall owner has agreed to buy three retail centers from Westfield Group for 867.8 million pounds ($1.4 billion) including working capital.

Munich Re advanced 1.4 percent to 152.34 euros after saying it will buy back shares worth 1 billion euros before its 2015 shareholder meeting. The world’s biggest reinsurer also projected a 9.1 percent drop in 2014 profit.

Next Plc rose 2.3 percent to 6,730 pence. The U.K.’s second-largest clothing retailer said underlying pretax profit rose 12 percent to 695.2 million pounds in the year through January, more than the 694 million-pound average of analysts’ estimates.

West Texas Intermediate crude erased losses after measures of leading indicators raised optimism that a stronger U.S. economy will boost oil demand.

Prices were little changed after falling as much as 0.8 percent. The Conference Board’s gauge of the outlook for the next three to six months climbed 0.5 percent last month, the biggest gain since November. WTI followed gains in U.S. stocks as the Standard & Poor’s 500 Index rebounded. Crude fell earlier as the dollar strengthened and stockpiles grew for a ninth week.

“The market is very data dependent,” said Phil Flynn, senior market analyst at the Price Futures Group in Chicago. “Better economic reports raise expectations for oil demand. That’s supportive for oil.”

WTI futures for April delivery, which expires today, climbed 12 cents to $100.49 a barrel at 10:17 a.m. on the New York Mercantile Exchange. The more-active May contract rose 22 cents to $99.39. The volume of all futures traded was about 18 percent below the 100-day average for the time of day.

Brent for May settlement increased 28 cents, or 0.3 percent, to $106.13 a barrel on the London-based ICE Futures Europe exchange. The European benchmark was at a premium of $6.74 to WTI for the same month on ICE. The spread narrowed for a third day yesterday to close at $6.68, the smallest gap since March 7.

Gold prices decline fourth consecutive session under the pressure of rising U.S. dollar , following statements by the Federal Reserve that it will reduce its monthly bond purchases by 10 billion dollars .

Comments from Fed Chairman Janet Yellen on the results of the two-day meeting of the Open Market Operations The Fed also implies that interest rates may be increased by approximately six months after the bond-buying program .

Some investors took forecasts Yellen as a sign that the Fed may begin to raise interest rates sooner than expected.

In February, Yellen said that economic data should be really weak, so that the central bank was forced to slow down the decline in bond purchases. Recent data , including a strong February employment report , interrupted series of disappointing U.S. economic indicators , have been reported over the last few months.

The dollar had also released data on Thursday that the number of people who filed for first time unemployment benefits , rose slightly last week , but was lower than predicted by most experts.

The Labor Department said that for the week ending March 15 , the number of initial claims for unemployment benefits rose by 5,000 to a seasonally adjusted , while reaching 320 thousand Economists had expected the value of this ratio will rise to 327 thousand also add that the result for the previous week appeared unchanged.

Analyst Department of Labor said that there were no special factors that could have an impact on the overall result . Meanwhile, it was reported that more important indicator that " aligns " weekly volatility - the average number of calls in the last four weeks , down by 3.5 thousand to 327 thousand It was the lowest since the end of November.

The cost of the April gold futures on the COMEX today dropped to $ 1320.80 per ounce.

USD/JPY Y101.00, Y101.50, Y101.80, Y102.00, Y102.25, Y102.50, Y103.60, Y104.00

EUR/JPY Y142.80

EUR/USD $1.3850, $1.3900, $1.4000

GBP/USD $1.6470, $1.6535, $1.6645, $1.6750

EUR/GBP stg0.8335, stg0.8445, stg0.8450

USD/CHF Chf0.8700, Chf0.8810

EUR/CHF Chf1.2200, Chf1.2225

AUD/USD $0.9050, $0.9100, $0.9125, $0.9140, $0.9150

AUD/JPY Y90.50, Y91.50

NZD/USD $0.8600

USD/CAD C$1.1225, C$1.1250, C$1.1300

U.S. stock futures declined after Federal Reserve Chair Janet Yellen signaled interest rates may rise by the middle of next year.

Global markets:

Nikkei 14,224.23 -238.29 -1.65%

Hang Seng 21,182.16 -386.53 -1.79%

Shanghai Composite 1,993.48 -28.26 -1.40%

FTSE 6,508.7 -64.43 -0.98%

CAC 4,273.49 -34.57 -0.80%

DAX 9,193.85 -83.20 -0.90%

Crude oil $99.74 (-0.63%)

Gold $1324.00 (-1.29%).

Data

00:30 Australia RBA Bulletin Quarter I

07:00 Germany Producer Price Index (MoM) February -0.1% +0.2% 0.0%

07:00 Germany Producer Price Index (YoY) February -1.1% -0.9% -0.9%

07:00 Switzerland Trade Balance February 2.55 Revised From 2.59 2.47 2.61

07:15 Japan BOJ Governor Haruhiko Kuroda Speaks

08:30 Switzerland SNB Monetary Policy Assessment

08:30 Switzerland SNB Interest Rate Decision 0.25% 0.25% 0.25%

10:00 Eurozone EU Economic Summit

10:00 Eurozone ECB President Mario Draghi Speaks

10:00 Eurozone European Council Meeting

11:00 United Kingdom CBI industrial order books balance March 3 5 6

12:30 U.S. Initial Jobless Claims March 315 327 320

The euro exchange rate against the dollar has decreased significantly , continuing to maintain their negative mood yesterday . The pair still suffering losses after yesterday's Fed meeting , the tone of which was a hawk , and the subsequent press conference J. Yellen . Federal Reserve hinted yesterday about the possible lifting of interest rates by the middle of next year. Following the meeting on March 18-19, the U.S. Federal Reserve has reduced its quantitative easing program by $ 10 billion for the third time in a row. Since April, the Central Bank will reduce the purchase US Treasuries from $ 35 billion to $ 30 billion a month , mortgage-backed securities - from $ 30 billion to $ 25 billion a month . In addition, the Central Bank has kept interest rate target range of 0% to 0.25% per annum . In this changed approach to forecasting rates and course of monetary policy as a whole. Now the Fed will consider " a wide range of factors," and not just unemployment . Central Bank also downgraded GDP growth forecasts for the current year .

Some support the American currency was the labor market data . The Labor Department said that for the week ending March 15 , the number of initial claims for unemployment benefits rose by 5,000 to a seasonally adjusted , while reaching 320 thousand Economists had expected the value of this ratio will rise to 327 thousand also add that the result the previous week proved unchanged.

Dollar growth expectations also help the publication of data on the U.S. , namely, home sales in the secondary market , the Philadelphia Fed manufacturing index and the index of leading indicators . It is expected that sales in the secondary market will rise to 4.65 million from 4.62 million , the manufacturing index to rise to 4.2 to -6.3 , and the leading index added 0.3 %.

Swiss franc has fallen markedly against the dollar, which was due to yesterday's Fed decision , and today's announcement SNB . Note that the Swiss National Bank confirmed its intention to intervene in currency markets to prevent the strengthening of the franc. We add that the lower limit of the pair EUR / CHF remains at CHF1, 20. Bank called restriction rate " necessary tool " containment pressure on the franc . SNB also upheld the 3 -month interest rate range LIBOR 0,0% -0,25%, that is fixed by 11 consecutive months. Decision is consistent with economists' expectations . Bank noted the continuing high rate limit for the franc and EUR / CHF continues to be an essential tool to avoid undesirable tightening of monetary conditions in the event of renewed upward pressure on the Swiss franc. SNB also said it expects GDP growth in 2014 of around 2 %. Meanwhile, it became known about lowering the inflation outlook to 0.0 % in 2014 from 0.2% previously . Inflation forecast for 2015 was 0.4 %, compared with 0.6 % previously .

EUR / USD: during the European session, the pair fell to $ 1.3755

GBP / USD: during the European session, the pair fell to $ 1.6485

USD / JPY: during the European session, the pair traded in the range Y102.20-Y102.55

At 14:00 GMT the United States declares the volume of sales in the secondary market in February, and will release its manufacturing index for the Philadelphia Fed in March. At 20:30 GMT the U.S. will release the results of stress tests. At 23:00 GMT Australia will release the index of leading economic indicators from the Conference Board in January.

EUR/USD

Offers $1.4000, $1.3967/75, $1.3945/50, $1.3890/00

Bids $1.3810, $1.3780, $1.3740, $1.3700/05

GBP/USD

Offers $1.6785, $1.6740, $1.6720/25, $1.6665/70, $1.6605/15

Bids $1.6500/10, $1.6420/30, $1.6400, $1.6380

AUD/USD

Offers $0.9200, $0.9165, $0.9150, $0.9140, $0.9100, $0.9060

Bids $0.8990/00, $0.8950, $0.8910/00

EUR/JPY

Offers Y142.90/00, Y142.50, Y142.00

Bids Y141.00, Y140.75, Y140.45/50, Y140.00, Y139.50

USD/JPY

Offers Y103.75, Y103.45, Y103.00, Y102.85

Bids Y101.95/00, Y101.70, Y101.20, Y101.00, Y100.50

EUR/GBP

Offers stg0.8470, stg0.8415/20, stg0.8405, stg0.8370/75

Bids stg0.8335/40, stg0.8320/15, stg0.8280/75

European stock indices show a decrease in response to yesterday's announcement by the head of the Federal Reserve Janet Yellen that the first rate hike will occur closer to the middle of 2015. U.S. index futures are little changed , while Asian shares fell .

Recall that yesterday Open Market Committee of the Federal Reserve decided to cut from April buyback of government bonds and mortgage-backed securities to $ 55 billion to $ 65 billion . In addition, the results of the Fed's next meeting has kept its benchmark interest rate at a record low of 0-0.25 % per annum.

It was also reported that the U.S. Federal Reserve will take into account a wide range of factors when making decisions about the base interest rate , which is currently at the level of 0-0.25 %. Earlier, the Fed focused mainly on unemployment and inflation. However, plans for a sharp increase in rates by the regulator in any case no . "In the background of the unemployment rate to 6.5% , the Committee decided to change the approach to the rate increase. Will be assessed a number of factors, including the labor market , inflationary pressures , as well as the state of the financial sector . Fed members believe that the rate will be acceptable to keep for a long time after the end of QE, especially if inflation is below 2 %, " - said the Fed .

The Stoxx Europe 600 Index fell 0.6 percent. Since the beginning of the year , the index fell by 0.7 percent.

Many market participants are waiting for new statistical data from the United States: a weekly report on the labor market , home sales in the secondary market as a leading indicator . It is expected that the number of applications for unemployment benefits will rise to 327 thousand from 315 thousand , housing sales in the secondary market will rise to 4.65 million from 4.62 million, and the leading index added 0.3 %.

Also today, the outcome will be made public stress test the U.S. banking sector . expected

Shares of GlaxoSmithKline Plc - British pharmaceutical company , fell 2 % , as its experimental drug to treat lung cancer clinical trial failed .

Cost Munich Re - the largest reinsurance companies in the world , rose 1.9% after the announcement of a new share buyback by 1 billion euros to May 2015 , while still not completed the previous program of the same volume . Investors are not yet responded to the message of the expected decline in profits in 2014 by 9% - up to 3 billion euros.

Securities exchange operator Deutsche Boerse AG fell 2.5% after JP Morgan Cazenove downgraded the rating of the stock from " neutral" to " underperform ."

Cost Siemens AG rose 0.8 percent , as experts UBS AG upgraded the stock the largest engineering company in Europe to the level of "buy" from "neutral" , referring to the fall in stocks this year. Siemens has lost 4 percent in 2014.

At the current moment

FTSE 100 6,499.28 -73.85 -1.12 %

CAC 40 4,267.26 -40.80 -0.95 %

DAX 9,177.84 -99.21 -1.07%

USD/JPY Y101.00, Y101.50, Y101.80, Y102.00, Y102.25, Y102.50, Y103.60, Y104.00

EUR/JPY Y142.80

EUR/USD $1.3850, $1.3900, $1.4000

GBP/USD $1.6470, $1.6535, $1.6645, $1.6750

EUR/GBP stg0.8335, stg0.8445, stg0.8450

USD/CHF Chf0.8700, Chf0.8810

EUR/CHF Chf1.2200, Chf1.2225

AUD/USD $0.9050, $0.9100, $0.9125, $0.9140, $0.9150

AUD/JPY Y90.50, Y91.50

NZD/USD $0.8600

USD/CAD C$1.1225, C$1.1250, C$!.1300

Asian stocks fell, with a gauge of Chinese shares in Hong Kong entering a bear market, after the Federal Reserve signaled it may raise U.S. interest rates from the middle of next year.

Nikkei 225 14,224.23 -238.29 -1.65%

S&P/ASX 200 5,294 -61.59 -1.15%

Shanghai Composite 1,993.48 -28.26 -1.40%

Newcrest Mining Ltd., Australia’s biggest gold producer, slumped 7.9 percent after bullion dropped the most in three months as the Fed’s announcement curbed demand for havens.

China Mobile Ltd. dropped 3.6 percent to the lowest close in almost five years in Hong Kong after the world’s largest phone company posted profit that missed estimates.

BYD Co., the electric-car maker backed by Warren Buffett, tumbled 14 percent in Hong Kong after projecting lower-than-expected first-quarter profit.

00:30 Australia RBA Bulletin Quarter I

The dollar held its biggest gain in seven months versus a basket of its peers after Federal Reserve policy makers signaled they’ll probably raise interest rates by the middle of next year. The Federal Open Market Committee discarded a jobless-rate threshold for considering when to increase borrowing costs and said it will look at a wider range of data. Policy makers also reduced monthly bond-buying by $10 billion to $55 billion and said in a statement it will slow purchases in “further measured steps.” Economists in a Bloomberg News survey forecast policy makers will announce an end to the program in October. Fed Chair Janet Yellen sees a “considerable time” between the end of the stimulus and the first rate increase, meaning “around six months or that type of thing,” she said at a press conference after presiding her first policy meeting.

New Zealand’s dollar led declines in developed-market currencies after data showed the South Pacific nation’s economic growth slowed in the fourth quarter and Asian stocks retreated. Data showed expansion in gross domestic product eased to 0.9 percent in the fourth quarter from a revised 1.2 percent in the July-September period.

The yuan fell for a fifth day, reaching a one-year low as the China Securities Journal said default risk of China’s corporate bonds is rising. The default risk of China’s corporate bonds increases as economic expansion and property investment growth slow, the China Securities Journal said in a front-page commentary. Companies relevant to the property sector will face a “more severe” situation of overproduction and more defaults may have an impact on banks, the commentary said.

EUR / USD: during the Asian session, the pair rose to $ 1.3840

GBP / USD: during the Asian session, the pair traded in the range of $ 1.6530-45

USD / JPY: on Asian session the pair traded in the range of Y102.25-45

UK CBI trends provides the morning's data interest at 1100GMT, with trade expected to continue to be driven by FOMC fall out, with the Ukraine situation still bubbling away in the background. US jobless claims at 1230GMT, Phila Fed and housing data at 1400GMT to provide the afternoon interest.