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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
11:00 United Kingdom CBI industrial order books balance March 10 9 0
11:00 Germany Bundesbank Monthly Report
The U.S. dollar traded mixed against the most major currencies ahead of the U.S. existing home sales figures. The existing home sales in the U.S. are expected to increase to 4.91 million units in February from 4.82 million units in January.
The euro traded higher against the U.S. dollar ahead of a speech by the European Central Bank President Mario Draghi. Draghi is scheduled to speak at 14:30 GMT.
Germany's Bundesbank released its monthly report on Monday. The central bank expects a strong growth of German economy in the first quarter of year. "There are also signs of a continued vigorous upward economic movement in the second quarter," Bundesbank added.
The British pound traded lower against the U.S. dollar after the weaker-than-expected CBI industrial order books balance data from the U.K. The CBI industrial order books balance dropped to zero in March from +10% in February.
Analysts expected the CBI industrial order books balance to decrease to +9%.
The decline was driven by a stronger pound and a weak economy in the Eurozone.
Volume of output for the next three months fell to +22 in March, down from +25 in February.
EUR/USD: the currency pair rose to $1.0906
GBP/USD: the currency pair decreased to $1.4837
USD/JPY: the currency pair fell to Y119.70
The most important news that are expected (GMT0):
14:00 U.S. Existing Home Sales February 4.82 4.91
14:00 U.S. Existing Home Sales, m/m February -4.9%
14:30 Eurozone ECB President Mario Draghi Speaks
16:20 U.S. FOMC Member Mester Speaks
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