Foreign exchange market. European session: the euro increased against the U.S. dollar but lost its gains

Economic calendar:

04:30    Japan                    All Industry Activity Index, m/m            February             +1.0%  -0.5%    -1.1%

08:00    Switzerland            SNB Chairman Jordan Speaks                                                

08:30    United Kingdom      Retail Sales (MoM)                                March                 +1.7%  -0.4%    +0.1%

08:30    United Kingdom      Retail Sales (YoY)                                 March                 +3.7%  +3.8%   +4.2%

08:30    United Kingdom      BBA Mortgage Approvals                      March                  47.6      48.9       45.9

The euro increased against the U.S. dollar but lost its gains. There are no economic data to be published in the Eurozone.

The U.S. dollar traded lower against the most major currencies ahead the publication of Reuters/Michigan Consumer Sentiment Index. Analysts forecasted the increase to 83.2 in April from 82.6 in March.

The British pound was up the U.S. dollar. The British currency was supported by the better-than-expected retail sales. Retail sales increased 0.1% in March. Analysts forecasted the fall of 0.4%. But the mortgage approvals dropped to 45,900 in March. The projected figure was 48,900. The mortgage approvals in February were revised down to 47,200 from 47,600.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair declined to Y101.95

The most important news that are expected (GMT0):

13:43    U.S.                       Services PMI (Preliminary)                                                     April      55.3      56.2     

13:55    U.S.                       Reuters/Michigan Consumer Sentiment Index (Finally)           April      82.6      83.2