Foreign exchange market. Asian session: the New Zealand dollar was down against the U.S. dollar and has reached a three-and-a-half week low

06:00    Germany                            Gfk Consumer Confidence Survey         May            8.5         8.5          8.5

08:00    Eurozone                           M3 money supply, adjusted y/y            March        +1.3%  +1.4%   +1.1%

08:30    United Kingdom                  GDP, q/q (Preliminary)                         Quarter I    +0.7%  +0.9%   +0.8%

08:30    United Kingdom                  GDP, y/y (Preliminary)                         Quarter I     +2.7%  +3.2%   +3.1%

The U.S. dollar climbed against the most major currencies supported by Monday’s better-than-expected U.S. pending home sales. U.S. pending sales of existing homes climbed 3.4% in March from February. It is the first increase for the first time in nine months. Analysts forecasted the increase of 1.0%.

The New Zealand dollar was down against the U.S. dollar and has reached a three-and-a-half week low on Tuesday. The weaker-than-expected trade surplus and the better-than-expected U.S. pending home sales had a negative impact on the New Zealand’s currency. New Zealand's trade surplus increased to NZ$920 million in March. But the figure in February was revised down to NZ$793 million from NZ$818 million. The projected trade surplus was NZ$937 million.

The Australian dollar declined against the U.S. dollar due to the fall in iron-ore prices and due to the better-than-expected U.S. pending home sales.

The Japanese yen declined against the most major currencies. The Japanese stock market was closed for a public holiday.

EUR/USD: the currency pair was up to $1.3865

GBP/USD: the currency pair climbed to $1.6815

USD/JPY: the currency pair traded mixed

NZD/USD: the currency pair has reached a three-and-a-half week low

The most important news that are expected (GMT0):

12:00    Germany                           CPI, m/m (Preliminary)                                  April      +0.3%  -0.1%   

12:00    Germany                           CPI, y/y (Preliminary)                                    April      +1.0%  +1.3%  

13:00    U.S.                                   S&P/Case-Shiller Home Price Indices, y/y       March   +13.2% +12.9%

14:00    United Kingdom                 BOE Deputy Governor Andrew Bailey Speaks                                                

14:00    U.S.                                   Consumer confidence                                    April      82.3      82.9      

19:30    Canada                              BOC Gov Stephen Poloz Speaks                                                            

22:45    New Zealand                      Building Permits, m/m                                    March   -1.7%                  

23:05    United Kingdom                 Gfk Consumer Confidence                              April      -5           -4           

23:15    Japan                                Manufacturing PMI                                          April      53.9                     

23:50    Japan                                Industrial Production (MoM) (Preliminary)        March   -2.3%   +0.6%  

23:50    Japan                                Industrial Production (YoY) (Preliminary)         March   +7.0%