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08.07.2014 12:05

Foreign exchange market. European session: the euro traded lower against the U.S. dollar after mixed economic data from the Eurozone

Economic calendar (GMT0):

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

01:30 Australia National Australia Bank's Business Confidence June 7 8

05:00 Japan Eco Watchers Survey: Current June 45.1 49.2 47.7

05:00 Japan Eco Watchers Survey: Outlook June 53.8 53.3

06:00 Germany Trade Balance May 17.7 15.7 18.8

06:45 France Trade Balance, bln June -4.1 Revised From -3.9 -4.1 -4.9

07:15 Switzerland Retail Sales Y/Y May +0.4% +1.5% -0.6%

07:15 Switzerland Consumer Price Index (MoM) June +0.3% +0.1% -0.1%

07:15 Switzerland Consumer Price Index (YoY) June +0.2% +0.2% 0.0%

08:30 United Kingdom Industrial Production (MoM) May +0.4% +0.3% -0.7%

08:30 United Kingdom Industrial Production (YoY) May +3.0% +3.1% +2.3%

08:30 United Kingdom Manufacturing Production (MoM) May +0.4% +0.5% -1.3%

08:30 United Kingdom Manufacturing Production (YoY) May +4.4% +5.6% +3.7%

09:00 Eurozone ECOFIN Meetings

09:00 Eurozone ECB's Vitor Constancio Speaks

The U.S. dollar traded lower against the most major currencies. The U.S. currency remained supported by Thursday's better-than-expected U.S. labour market data. U.S. companies added 288,000 jobs in June. The unemployment rate in the U.S. dropped to 6.1% in June from 6.3% in May.

Market participants speculate the Fed may hike its interest rate sooner than expected. They expect the release of the last Fed's monetary policy meeting on Wednesday.

The euro traded lower against the U.S. dollar after mixed economic data from the Eurozone. Germany's trade surplus increased to €18.8 billion in May from €17.2 billion in April. April's figure was revised down from a surplus of €17.7 billion. Analysts had expected the trade surplus to decline to €15.7 billion in May.

France's trade deficit widened to €4.9 billion in June from a deficit of €4.1 billion in May. May's figure was revised down from a deficit of €3.9 billion. Analysts had expected the trade deficit to increase to €4.1 billion in May.

The British pound declined against the U.S. dollar due to the weaker-than-expected manufacturing production in the U.K. Manufacturing production in the U.K. declined 1.3% in May, missing expectations for a 0.5% gain, after a 0.4% rise in April. That was the largest decline since January 2013.

On a yearly basis, manufacturing production in the U.K. increased 3.7% in May, missing expectations for a 5.6% rise, after a 4.4% gain in April.

Industrial production in the U.K. dropped 0.7% in May, missing forecasts of a 0.3% increase, after the 0.4% rise in April. That was the biggest decline since August 2013.

On a yearly basis, industrial production in the U.K. rose 2.3% in May, after the 3.0% gain in April. Analysts had expected an increase of 3.1%.

The Swiss franc traded lower against the U.S. dollar after the weaker-than-expected economic data from Switzerland. Retail sales in Switzerland declined 0.6% in May, missing expectations for a 1.5% rise, after a 0.4% increase in April.

The Swiss consumer price index decreased 0.1% in June, missing expectations for a 0.1% increase, after a 0.3% gain in May.

On a yearly basis, the Swiss consumer price index was flat in June, missing expectations for a 0.2% gain, after a 0.2% rise in May.

EUR/USD: the currency pair declined to $1.3587

GBP/USD: the currency pair decreased to $1.7084

USD/JPY: the currency pair declined to Y101.70

The most important news that are expected (GMT0):

14:00 United Kingdom NIESR GDP Estimate June +0.9%

14:00 U.S. JOLTs Job Openings May 4455 4530

17:45 U.S. FOMC Member Narayana Kocherlakota

19:00 U.S. Consumer Credit May 26.8 21.3

20:30 U.S. API Crude Oil Inventories July -0.9

08.07.2014 12:00

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