Foreign exchange market. European session: the euro traded lower against the U.S. dollar, weak GDP growth in the Eurozone continued to weigh on the euro

Economic calendar (GMT0):

04:30    Japan        Industrial Production (MoM) (Finally) March       +0.3%    +0.3%   +0.7%

04:30    Japan        Industrial Production (YoY) (Finally)  March        +7.0%                 +7.4%

06:45    France       Non-Farm Payrolls (Preliminary)       Quarter I    +0.1%    -0.1%    -0.1%

09:00    Eurozone   Trade Balance s.a.                           March         15.0       17.3       15.2

The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. housing data. U.S. building permits should increase to 1.010 million in April, from 1.000 million in March. March’s figure was revised up from 0.990 million. U.S. housing starts should rise to 0.980 million in April, from 0.946 million in March. Later in the day, Reuters/Michigan consumer sentiment index will be released. The index should climb to 84.7 in April, from 84.1 in March.

The euro traded lower against the U.S. dollar. The weak GDP growth in the Eurozone continued to weigh on the euro. The new stimulus measures by ECB in June are more likely after the release of several weak economic data in the Eurozone.

Eurozone’s trade balance surplus climbed to 15.2 billion euro in March, from 15.0 in February. Analysts had expected an increase to 17.3 billion euro.

The British pound traded higher against the U.S. dollar. No economic data was published in the U.K.

EUR/USD: the currency pair dropped to $1.3684

GBP/USD: the currency pair increased to $1.6813

USD/JPY: the currency pair declined to Y101.35

The most important news that are expected (GMT0):

12:30    Canada  Foreign Securities Purchases                                                 March     6.08      7.21     

12:30    U.S.      Building Permits, mln                                                              April      1.000    1.010   

12:30    U.S.      Housing Starts, mln                                                                April      0.946    0.980   

13:55    U.S.      Reuters/Michigan Consumer Sentiment Index (Preliminary)     April      84.1      84.7