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16.01.2015 14:30

Foreign exchange market. Asian session: U.S. dollar trading mixed after volatile markets following the SNB decision

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

07:00 Germany CPI, m/m (Finally) December 0.0% 0.0% 0.0%

07:00 Germany CPI, y/y (Finally) December +0.2% +0.2% +0.2%

The U.S. dollar traded mixed against its major peers during the Asian session after mixed U.S. data published yesterday. Markets were highly volatile after the Swiss National Bank shocked market participants by scrapping its exchange rate cap against the single currency and cutting rates to minus 0.75%. The euro is heading for a fifth weekly decline against the greenback currently trading at USD1.1642 before ECB policy makers meet on January 22nd to decide on further stimulus.

Today investors look ahead to data on CPI, Industrial Production, Capacity Utilization and the Reuters/Michigan Consumer Sentiment Index.

The Australian dollar further strengthenedtowards a one-month in the absence of any major economic news.

New Zealand's dollar traded higher against the greenback after rising 1.4% yesterday with no major data on the cards.

The Japanese yen rose versus the greenback as investors bought the yen as safe-have asset. After the SNB news abandoning its three-year-old cap of 1.20 per euro on the franc the highly volatile markets led to risk-off trades. Japan's Tertiary industry Index for November rose by +0.2% missing expectations of n increase by +0.3% with a previous reading of -0.2% in October.

EUR/USD: the euro traded almost flat against the greenback

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

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

The most important news that are expected (GMT0):

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

08:15 Switzerland Retail Sales Y/Y November +0.3% +1.1%

10:00 Eurozone Harmonized CPI (Finally) December -0.2% -0.2%

10:00 Eurozone Harmonized CPI, Y/Y (Finally) December -0.2% -0.2%

10:00 Eurozone Harmonized CPI ex EFAT, Y/Y (Finally) December +0.8% +0.8%

13:30 U.S. CPI, m/m December -0.3% -0.3%

13:30 U.S. CPI, Y/Y December +1.3% +1.0%

13:30 U.S. CPI excluding food and energy, m/m December +0.1% +0.1%

13:30 U.S. CPI excluding food and energy, Y/Y December +1.7% +1.7%

14:15 U.S. Industrial Production (MoM) December +1.3% +0.1%

14:15 U.S. Capacity Utilization December 80.1% 80.2%

14:55 U.S. Reuters/Michigan Consumer Sentiment Index (Preliminary) January 93.6 94.2

21:00 U.S. Net Long-term TIC Flows November -1.4 27.3

21:00 U.S. Total Net TIC Flows November 178.4

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