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23.04.2015 12:24

Foreign exchange market. European session: the euro traded higher against the U.S. dollar despite the weaker-than-expected PMIs from the Eurozone

Economic calendar (GMT0):

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

01:30 Australia NAB Quarterly Business Confidence Quarter I 2 0

01:35 Japan Manufacturing PMI (Preliminary) April 50.3 50.8 49.7

01:45 China HSBC Manufacturing PMI (Preliminary) April 49.6 49.4 49.2

03:00 New Zealand Credit Card Spending March 5.8% 5.2%

06:00 Switzerland Trade Balance March 2.32 Revised From 2.47 2.16 2.52

07:00 France Manufacturing PMI (Preliminary) April 48.8 49.4 48.4

07:00 France Services PMI (Preliminary) April 52.4 52.5 50.8

07:30 Germany Manufacturing PMI (Preliminary) April 52.8 53.1 51.9

07:30 Germany Services PMI (Preliminary) April 55.4 55.6 54.4

08:00 Eurozone Manufacturing PMI (Preliminary) April 52.2 52.6 51.9

08:00 Eurozone Services PMI (Preliminary) April 54.2 54.5 53.7

08:30 United Kingdom Retail Sales (MoM) March 0.6% Revised From 0.7% 0.4% -0.5%

08:30 United Kingdom Retail Sales (YoY) March 5.4% Revised From 5.7% 5.4% 4.2%

08:30 United Kingdom PSNB, bln March 4.8 Revised From 6.2 6.6 -6.74

The U.S. dollar traded mixed against the most major currencies ahead the U.S. economic data. The number of initial jobless claims in the U.S. is expected to decrease by 4,000 to 290,000.

The U.S. preliminary manufacturing PMI is expected to fall to 55.6 in April from 55.7 in March.

New home sales in the U.S. are expected to decline to 514,000 units in March from 539,000 units in February.

The euro traded higher against the U.S. dollar despite the weaker-than-expected PMIs from the Eurozone. Eurozone's preliminary manufacturing PMI decreased to 51.9 in April from 52.2 in March, missing expectations for a rise to 52.6.

Eurozone's preliminary services PMI declined to 53.7 in April from 54.2 in March. Analysts had expected the index to climb to 54.5.

Germany's preliminary manufacturing PMI fell to 51.9 in April from 52.8 in March, missing forecasts of an increase to 53.1.

Germany's preliminary services PMI decreased to 54.4 in April from 55.4 in March, missing expectations for a gain to 55.6.

The decline was driven by lower new orders and by a rise in prices.

France's preliminary manufacturing PMI was down to 48.4 in April from 48.8 in March, missing forecasts of a rise to 49.4.

France's preliminary services PMI dropped to 50.8 in April from 52.4 in March, missing expectations for a gain to 52.5.

The Greek debt crisis remains in focus. Greece is running out of cash, and it needs a new tranche of loans. The Greek government hopes to unlock a new tranche of loans at the Eurogroup meeting on April 24. Some European officials expressed concerns that an agreement between Greece and its creditors will be signed this week.

The Greek Prime Minister Alexis Tsipras will meet German Chancellor Angela Merkel at EU summit in Brussels on Thursday.

The British pound traded higher against the U.S. dollar despite weaker-than-expected U.K. retail sales. Retail sales in the U.K. decreased 0.5% in March, missing expectations for a 0.4% rise, after a 0.6% gain in February. February's figure was revised down from a 0.7% increase.

It was the first decline in six months.

The decrease was driven by a drop in fuel sales. Fuel sales plunged 6.2%, the biggest drop since April 2012.

On a yearly basis, retail sales in the U.K. climbed 4.2% in March, missing forecasts of 5.4% increase, after a 5.4% rise in February. February's figure was revised down from a 5.7% gain.

The public sector net borrowing in the U.K. rose to £6.74 billion in March from £4.8 billion in February, missing expectations for a rise to £6.6 billion. February's figure was revised down from £6.2 billion.

The Swiss franc traded higher against the U.S. dollar after the better-than-expected trade data from Switzerland. The Swiss trade surplus climbed to CHF2.52 billion in March from CHF2.32 billion in the previous month. Analysts had expected the surplus to decline to CHF2.16 billion.

Exports increased 4.2% in March, while imports were up 6.8%.

EUR/USD: the currency pair increased to $1.0778

GBP/USD: the currency pair climbed to $1.5033

USD/JPY: the currency pair rose to Y120.08

The most important news that are expected (GMT0):

12:30 U.S. Continuing Jobless Claims April 2268

12:30 U.S. Initial Jobless Claims April 294 290

13:45 U.S. Manufacturing PMI (Preliminary) April 55.7 55.6

14:00 U.S. New Home Sales March 539 514

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