| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | United Kingdom | Halifax house price index 3m Y/Y | January | 2.1% | -0.3% | 1.9% |
| 07:00 | United Kingdom | Halifax house price index | January | -1.3% | -0.8% | 0% |
| 07:00 | Germany | Industrial Production s.a. (MoM) | December | 0.4% | -0.7% | -3.1% |
| 07:45 | France | Trade Balance, bln | December | -13.77 | -12.2 | -14.93 |
| 08:00 | Switzerland | Foreign Currency Reserves | January | 783.828 | | 784.404 |
| 09:00 | United Kingdom | MPC Member Ramsden Speaks | | | | |
USD traded mixed against other major currencies in the European session on Tuesday as investors waited for the remarks from the Federal Reserve’s chairman Jerome Powell later today. The U.S. currency appreciated versus EUR and GBP but weakened versus JPY, CAD, and AUD.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, edged up 0.1% to 103.71.
Powell will speak before the Economic Club of Washington at 17:40 GMT. Investors hope the Fed chair’s comments will provide clues on the interest rates’ path in the U.S.
Friday’s strong U.S. January employment situation report raised bets that the Fed might need to hike its interest rates more than expected and keep them higher for longer.
According to CME FedWatch Tool, markets are now seeing a 66.1%% probability of an additional 25-basis point rate increase at the Fed’s May meeting following a similar move in March. A week ago, the probability was estimated only at 35.1%.
Atlanta Federal Reserve president Raphael Bostic said on Monday that January’s job numbers mean that the Fed’s policymakers “have to do a little more work“. Also, the official added that the interest rates might be raised more than he projected.