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Economic calendar (GMT0):
07:00 Eurozone ECB's Jens Weidmann Speaks
09:00 Eurozone Construction Output, m/m March +0.1% -0.6%
09:00 Eurozone Construction Output, y/y March +6.7% +5.2%
10:00 Germany Bundesbank Monthly Report May
The U.S. dollar traded lower against the most major currencies due to concerns over the economic growth in China. China’s financial regulators tightened rules on bank lending on Friday. Limited credit could inhibit economic growth.
The euro traded higher against the U.S. dollar. Market participants are awaiting new stimulus measures by ECB next month. Eurozone’s construction output declined 0.6% in March from a 0.1% increase in February. On a yearly basis, Eurozone’s construction output climbed 5.2% in March from a 6.7% gain in February.
The British pound traded mixed against the U.S. dollar. After AstraZeneca rejected Pfizer’s offer, the British currency came under pressure.
EUR/USD: the currency pair increased to $1.3724
GBP/USD: the currency pair traded mixed
USD/JPY: the currency pair declined to Y101.09
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