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|06:00||United Kingdom||Nationwide house price index, y/y||March||6.9%||6.4%||5.7%|
|06:00||United Kingdom||Nationwide house price index||March||0.7%||0.4%||-0.2%|
|06:00||United Kingdom||Business Investment, y/y||Quarter IV||-12.8%||-7.4%|
|06:00||United Kingdom||Business Investment, q/q||Quarter IV||13.2%||5.9%|
|06:00||United Kingdom||Current account, bln||Quarter IV||-14.3||-34||-26.3|
|06:00||United Kingdom||GDP, q/q||Quarter IV||16.9%||1%||1.3%|
|06:00||United Kingdom||GDP, y/y||Quarter IV||-8.5%||-7.8%||-7.3%|
|07:55||Germany||Unemployment Rate s.a.||March||6%||6%||6%|
|08:00||Switzerland||Credit Suisse ZEW Survey (Expectations)||March||55.5||66.7|
|09:00||Eurozone||Harmonized CPI ex EFAT, Y/Y||March||1.1%||1.1%||0.9%|
|09:00||Eurozone||Harmonized CPI, Y/Y||March||0.9%||1.3%||1.3%|
USD fell against most of its major counterparts in the European session on Wednesday as market participants awaited the announcement of a key infrastructure spending plan by the U.S. President Joe Biden.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, edged down 0.1% to 93.22.
Biden is to unveil details of his $2.25 trillion infrastructure plan later today in Pittsburgh. The plan includes projects for roads and bridges, high-speed broadband, research and development. The White House stated that the plan would be paid for over 15 years by raising the corporate tax rate to 28% from 21% and increasing taxes on foreign earnings.
Investors worry that a significant increase in U.S. spending will lead to higher inflation. Renewed inflation concerns pushed Treasury bond yields higher. Benchmark 10-year Treasury note yields are holding at around 1.73% at the moment. Yesterday, yields hit a 14-month high of 1.776%.