Foreign exchange market. European session: the euro traded mixed ahead the publication of unemployment claims and core durable goods orders

Economic calendar:

06:00    Switzerland        Trade Balance                      March    2.62      2.79       2.05

08:00    Germany            IFO - Business Climate           April      110.7    110.5     111.2

08:00    Germany            IFO - Current Assessment      April      115.2    115.7     115.3

08:00    Germany            IFO - Expectations                April      106.4    105.9     107.3

09:00    Eurozone             ECB President Mario Draghi Speaks                                                     

10:00    United Kingdom    CBI retail sales volume balance    April        13          18           30

The euro traded mixed. The euro was supported by German IFO business climate. The index climbed to 111.2 in April from 110.7 in March. The projected figure was 110.5 points. But later, the Eurozone currency declined after the speech of the European Central Bank president Mario Draghi. Mario Draghi said that the central bank could trigger new quantitative stimulus measures to combating the threat of deflation and the credit crunch. A strong euro could also be a reason for additional action.

The U.S. dollar strengthened against the most major currencies ahead the publication of unemployment claims and core durable goods orders.

The British pound climbed a little against the U.S. dollar. The better-than-expected CBI retail sales volume balance figure supported the British currency. The CBI retail sales index rose to 30 in April from 13 in March. Analysts forecasted the increase to 18.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair climbed a little

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

12:30  U.S.                          Durable Goods Orders                                 March  +2.2% +2.1%

12:30  U.S.                          Durable Goods Orders ex Transportation     March  +0.2% +0.6%

12:30  U.S.                          Durable goods orders ex defense                 March  +1.8%           

12:30  U.S.                          Initial Jobless Claims                                     April     304     309    

16:15  Eurozone                 ECB’s Vitor Constancio Speaks                                           

23:30  Japan                      Tokyo Consumer Price Index, y/y                  April     +1.3%           

23:30  Japan                      Tokyo CPI ex Fresh Food, y/y                       April     +1.0% +2.8%

23:30  Japan                       National Consumer Price Index, y/y              March  +1.5%           

23:30  Japan                       National CPI Ex-Fresh Food, y/y                   March  +1.3% +1.4%