Another prove that British economy will post stable, but not rapid growth this year appeared on Friday, with a report from the ONS showing manufacturing output expanded in December, albeit slower than it was projected.
Following a disappointing ISM manufacturing report, trade balance and non-farm payrolls it will be interesting to listen to Janet Yellen's first testimony later this week.
The ECB now remains in a "wait-and-see" mode and will wait for the updated projections of its analysts in March to make another rate cut or stay pat on its policy as they did last week.
Despite the fact that last week policymakers in Australia, Britain, Europe and New Zealand were gathering to assess the current conditions of their economies, markets remained rather calm.
On Tuesday the Reserve Bank of Australia decided to maintain the benchmark interest rate at 2.5%.
The Swiss Franc was almost unchanged against the U.S. Dollar and single currency, with crosses trading around 0.9041 and 1.2226 respectively on the back of mixed fundamental data from the Alpine country.
The U.K. policymakers decided to stay pat on their monetary policy as well as giving no hints about further adjustment to the forward guidance.
It is hard to say uniquely whether the world's largest economy is strong enough to keep its path to prosperity without the government support, as each month some of GDP components is sending alarming signs.
The shared currency lost 0.26% to 1.3497 against the U.S. Dollar, posting just a modest reaction to the ECB rate announcement.
Last week the RBNZ refrained from raising its key refinancing rate, citing the necessity to monitor economic indicators in the coming months.
More pressure on Shinzo Abe was added this week, as report from the Ministry of Health, Labour and Welfare showed the nation's base wages adjusted for inflation reached a 16-year low earlier hit in 2009, posing a risk to future consumer spending as Japan girds for a higher consumption tax hike in April.
The U.K. economy cannot be so strong as it is projected, as its key sector unexpectedly slowed in January, suggesting first quarter's growth can disappoint markets.
It seems that December's payrolls report was simply not taken into consideration by the Fed, as weak job growth was explained by bad weather conditions.
Consumers in the 18-nation bloc are still cautious about their prospects and are not showing willingness to spend, suggesting inflation and growth in the whole region will be subdued in the foreseeable future, and bolstering the case the ECB will pull the trigger soon once again.
Japan's monetary base rocketed 51.9% last month, totalling 200.414 trillion yen, the Bank of Japan said on Tuesday. The figure follows a 46.6% rise a month earlier.
Unexpected. This is how we can characterise RBA's February's meeting. Though it was unlikely that Australian policymakers would cut the key refinancing rate this month, they were projected to signal future cuts and stay dovish, as economy struggles to gain momentum.
The cable is still moving in a long downside trend that started on January 29.
A government shutdown? Last-minute budget deal? Everyone though that the world's largest economy has gone through all its political disputes, and the fact politicians managed to approve this year's budget was suggesting the economy will prosper this year.
Four year have passed since the time Greece was on the brink of sovereign default that could possibly bring the single currency bloc to its knees. Today's major headache is represented by persistently low inflation.
The resource-rich economy is stuck in the transition phase, as investment in the key mining sector begin to wane and during the period of prosperity the government was not able to seize the opportunity of economic expansion, and the economy is struggling to grow.
The SNB should start keeping an eye on the EUR/CHF more carefully, as after hitting a high of 1.2394 on January 8, the pair began its downside movement to 1.2200 level.
It seems that Mark Carney's forecasts are working very well, taking into account the fact he predicted a slight deceleration of economic growth in the coming months, even despite the fact the economy is building up steam in general.
Manufacturing activity in the world's biggest economy rose at a substantially slower pace than expected in January, as new orders growth declined by the most in 33 years, pushing the overall factory activity to the lowest level in eight months, according to data released by the Institute for Supply Management.
The single currency fell to the lowest level since November 22 this weak, following the disappointing inflation report on Friday, amid concerns that constantly weakening inflationary pressure in the 18-nation bloc will prompt European policymakers to ease monetary policy further.