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26.10.2015 13:29

Foreign exchange market. European session: the euro traded lower against the U.S. dollar despite the better-than-expected economic data from Germany

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

09:00 Germany IFO - Expectations October 103.3 102.4 103.8

09:00 Germany IFO - Current Assessment October 114 113.5 112.6

09:00 Germany IFO - Business Climate October 108.5 107.8 108.2

09:30 United Kingdom BBA Mortgage Approvals September 46.6 Revised From 46.74 44.5

The U.S. dollar traded mixed to higher against the most major currencies ahead the release of the U.S. new home sales data. New home sales in the U.S. are expected to decline to 550,000 units in September from 552,000 units in August.

The euro traded lower against the U.S. dollar despite the better-than-expected economic data from Germany. German Ifo Institute released its business confidence figures for Germany on Monday. German business confidence index fell to 108.2 in October from 108.5 in September, beating expectations for a decline to 107.8.

"Companies were slightly less satisfied with their current business situation than in September. Optimism with a view to future business developments nevertheless continued to grow. The German economy is proving remarkably resilient in view of this autumn's multiple challenges," Ifo President Hans-Werner Sinn said.

He added that the Volkswagen scandal had no impact on the German automotive industry.

The Ifo current conditions index declined to 112.6 from 114.0. Analysts had expected the index to fell to 113.5.

The Ifo expectations index rose to 103.8 from 103.3. Analysts had expected the index to decrease to 102.4.

The British pound traded mixed against the U.S. dollar after the release of the negative economic data from the U.K. The Confederation of British Industry (CBI) released its industrial order books balance on Monday. The CBI industrial order books balance dropped to -18% in October from -7% in September.

The British Bankers' Association (BBA) released the number of mortgage approvals in the U.K. on Monday. The number of mortgage approvals decreased to 44,489 in September from 46,567 in August. August's figure was revised down from 46,743.

"Borrowing figures in the mortgage market remain strong as customers take advantage of record low interest rates. In particular, remortgaging remains high as savvy customers secure attractive deals ahead of a possible rate rise," the chief economist at the BBA, Richard Woolhouse, said.

EUR/USD: the currency pair declined to $1.1002

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

14:00 U.S. New Home Sales September 552 550

21:45 New Zealand Trade Balance, mln September -1035 -800

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