Several major global currencies saw problems during forex trading on Wednesday and into Thursday as an important day loomed.

The Bank of Canada’s decision yesterday to keep interest rates where they were – and to state that there was significant “increased uncertainty” about when rates would next rise – saw the currency drop as low as C$1.3457.

The Australian dollar continued to suffer as it hit $0.70205, its lowest point for two months.

Over in Europe, the single currency was preparing for a big day ahead of a key meeting.

This lunchtime sees decisions from the European Central Bank on both the deposit rate and the interest rate. The former is expected to remain at -0.4%, while the latter is forecast to hold firm at 0%.

However, it is expected among some analysts that the ECB will keep its mind on ongoing economic growth problems in the eurozone.

It is believed that the bank might suggest that rates won’t rise until 2020, and it’s also forecast by some that it will choose to start offering long-term loans as well.

The euro held firm enough in the EUR/USD pair at $1.1312. However, this was still an entire percentage point down from a position it hit last week.

As the forex trading week begins to draw to a close, there are still some key events on the economic calendar to prepare for.

Initial jobless claims figures for the period around February 25th will be out of the US at 1.30pm GMT. These are expected to remain constant at 225,000.

Continuing jobless claims for the period around February 25th are also due. They are expected to show a drop from 1,805,000 to 1,775,000.

Several central bankers are due to make speeches later in the day. At 5.15pm GMT, for example, the US Federal Reserve’s Lael Brainard, a member of the Board of Governors, will speak.

Lynn Patterson, Deputy Governor of the Bank of Canada, will speak at 5.45pm GMT.

At 11.50pm GMT, there will be a series of key statistical releases from Japan. February’s bank lending information is due out and is expected to remain steady year on year at 2.4%.

Overall household spending for the month of January is expected 20 minutes or so earlier at 11.30pm GMT. Year on year, this is expected to drop from 0.1% to -0.4%.

Tomorrow (Friday) has other important events scheduled. Chinese trade balance information (in US dollars) for the month of February is likely to be closely watched, although this does not yet have a specified timeframe. It is expected that this will drop in value from $39.16 billion to $26.38 billion.

German factory orders information for January is due out at 7am GMT. This is expected to show a change from -1.6% to +0.5%.

Nonfarm payrolls information, which shows how many new American jobs have been made in February outside of agriculture, is due at 1.30pm GMT. This is expected to show a significant change from 304,000 to 180,000.

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