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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
05:00 Japan Leading Economic Index (Finally) February 101.2 Revised From 101.8 99.8 96.8
05:00 Japan Coincident Index (Finally) February 112.3 Revised From 102.3 110.3 110.7
08:00 Germany IFO - Business Climate April 106.7 107 106.6
08:00 Germany IFO - Current Assessment April 113.8 113.8 113.2
08:00 Germany IFO - Expectations April 100 100.8 100.4
10:00 United Kingdom CBI industrial order books balance April -14 -15 -11
The U.S. dollar traded lower against the most major currencies ahead of the release of the U.S. new home sales data. New home sales in the U.S. are expected to rise to 519,000 units in March from 512,000 units in February.
The euro traded higher against the U.S. dollar despite the weaker-than-expected Ifo data from Germany. German Ifo Institute released its business confidence figures for Germany on Tuesday. German business confidence index fell to 106.6 in April from 106.7 in March, missing expectations for an increase to 107.0.
"Although companies were somewhat less satisfied with their current situation, their business expectations brightened once again. The moderate upturn in the German economy continues," Ifo President Clemens Fuest said.
The Ifo current conditions index decreased to 113.2 from 113.8. Analysts had expected the index to remain unchanged at 113.8.
The Ifo expectations index climbed to 100.4 from 100.0, missing expectations for a rise to 100.8.
The British pound traded higher against the U.S. dollar. The Confederation of British Industry (CBI) released its industrial order books balance on Monday. The CBI industrial order books balance rose to -11 in April from -14 in March, beating expectations for a decline to -15.
"Manufacturing has yet to pick-up after a flat start to the year, with falling orders providing little impetus for production. While expectations for the upcoming quarter are encouraging, manufacturers are still facing sizeable external headwinds," the CBI director of economics Rain Newton-Smith said.
EUR/USD: the currency pair rose to $1.1267
GBP/USD: the currency pair increased to $1.4518
USD/JPY: the currency pair fell to Y110.83
The most important news that are expected (GMT0):
13:00 Belgium Business Climate April -4.2 -4
14:00 U.S. New Home Sales March 512 519
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