Foreign exchange market. European session: the euro traded mixed against the U.S. dollar after the release of the economic data in the Eurozone

Economic calendar (GMT0):

01:00    Australia                Consumer Inflation Expectation              May          +4.2%                 +4.4%

01:45    China                    HSBC Manufacturing PMI (Preliminary)    May           48.1      48.4       49.7

03:00    New Zealand         Expected Annual Inflation 2y from now  Quarter I +2.3%                 +2.4%

06:58    France                  Manufacturing PMI (Preliminary)              May           51.2      51.1       49.3

06:58    France                  Services PMI (Preliminary)                       May           50.4      50.3       49.2

07:28    Germany               Manufacturing PMI (Preliminary)             May           54.1      54.0       52.9

07:28    Germany               Services PMI (Preliminary)                      May           54.7      54.8       56.4

07:58    Eurozone              Manufacturing PMI (Preliminary)              May           53.4      53.2       52.5

07:58    Eurozone              Services PMI (Preliminary)                       May           53.1      53.0       53.5

08:30    United Kingdom     Business Investment, q/q                      Quarter I   +2.4%  +2.3%   +2.7%

08:30    United Kingdom     Business Investment, y/y                      Quarter I   +8.7%                +8.7%

08:30    United Kingdom     PSNB, bln                                              April          4.9         3.6        9.63

08:30    United Kingdom     GDP, q/q                                               Quarter I   +0.8%  +0.8%   +0.8%

08:30    United Kingdom     GDP, y/y                                               Quarter I   +3.1%  +3.1%   +3.1%

09:00    Eurozone               European Parliamentary Elections                                                       

10:00    United Kingdom     CBI industrial order books balance           May             -1           4             -1

The U.S. dollar traded higher against the most major currencies amid the release of the U.S. economic data. The initial jobless claims in the U.S. should increase to 312,000, from 297,000 in the previous week. U.S. flash manufacturing purchasing managers' index should increase to 55.6 in May, from 55.4 in April. The existing home sales in the U.S. should rise to 4.71 million units in April, from 4.59 million units in March.

The euro traded mixed against the U.S. dollar after the release of the economic data in the Eurozone. Eurozone’s flash manufacturing purchasing managers' index fell to 52.5 in May, from 53.4 in April. That was the slowest growth in six months. Analysts had expected a decrease to 53.2.

Eurozone’s flash services purchasing managers' index climbed to 53.5 in May, from 53.1 in April. That was the fastest pace in almost three years. Analysts had forecasted a decrease to 53.0.

France's flash manufacturing purchasing managers' index decreased to 49.3 in May, from 51.2 in April. Analysts had expected a decline to 51.1.

France's flash services purchasing managers' index decreased to 49.2 in May, from 50.4 in April. Analysts had forecasted a fall to 50.3.

Germany's manufacturing purchasing managers' index I slid to 52.9 in May, from 54.1 in April. Analysts had expected a decline to 54.0.

Germany's services purchasing managers' index gained to 56.4 in May, from 54.7 in April. Analysts had forecasted a rise to 54.8.

The British pound declined against the U.S. dollar after the U.K. gross domestic product. U.K. gross domestic product increased 0.8% in the first quarter (Q4 2013: +0.8%). Analysts had expected this figure.

On a yearly basis, U.K. gross domestic product climbed 3.1% in the first quarter (Q4 2013: +3.1%). Analysts had expected this growth.

U.K. business investment rose by 2.7% in the first quarter, from a 2.4% gain in the previous quarter. That was the highest pace since the first quarter of 2013.

On a yearly basis, U.K. business investment climbed 8.7% in the first quarter, unchanged from the previous quarter figure.

The Confederation of British Industry released the British factory orders. The Confederation of British Industry's (CBI) total order book balance was 0 in May, up from -1 in April. Analysts had expected +4.

The Canadian dollar traded little changed against the U.S. dollar ahead of the release of the Canadian retail sales. The retail sales in Canada should increase 0.2% in March, from a 0.5% rise in February. The Canadian retail sales excluding autos should climb 0.5% in March, from a 0.6% increase in February.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair declined to $1.6861

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

12:30    Canada               Retail Sales, m/m                           March   +0.5%  +0.2% 

12:30    Canada               Retail Sales ex Autos, m/m             March   +0.6%  +0.5% 

12:30    U.S.                    Initial Jobless Claims                        May       297        312       

13:43    U.S.                    Manufacturing PMI (Preliminary)     May       55.4      55.6     

14:00    U.S.                    Existing Home Sales                    April      4.59      4.71