Foreign exchange market. European session: the euro traded lower against the U.S. dollar due to expectations for further stimulus measures by European Central Bank and the weak growth figures in the Eurozone

Economic calendar (GMT0):

00:00    Australia           Conference Board Australia Leading Index     March   +0.3%                0.0%

01:30    Australia           RBA Meeting's Minutes                                                            

03:15    Australia           RBA Assist Gov Debelle Speaks                                                            

04:30    Japan               All Industry Activity Index, m/m                    March   -1.1%   +1.6%   +1.5%

06:00    Germany           Producer Price Index (MoM)                         April      -0.3%   0.0%      -0.1%

06:00    Germany           Producer Price Index (YoY)                          April      -0.9%   -0.7%     -0.9%

08:30    United Kingdom Retail Price Index, m/m                                April      +0.2%  +0.4%   +0.4%

08:30    United Kingdom Retail prices, Y/Y                                          April      +2.5%  +2.6%   +2.5%

08:30    United Kingdom RPI-X, Y/Y                                                   April      +2.5%               +2.6%

08:30    United Kingdom Producer Price Index - Input (MoM)             April      -0.6%   0.0%      -1.1%

08:30    United Kingdom Producer Price Index - Input (YoY)              April      -6.5%                 -5.5%

08:30    United Kingdom Producer Price Index - Output (MoM)          April      +0.2%  +0.2%    +0.0%

08:30    United Kingdom Producer Price Index - Output (YoY)           April      +0.5%  +0.8%    +0.6%

08:30    United Kingdom HICP ex EFAT, Y/Y                                      April      +1.6%               +2.0%

08:30    United Kingdom HICP, m/m                                                  April      +0.2%  +0.3%   +0.4%

08:30    United Kingdom HICP, Y/Y                                                    April      +1.6%  +1.7%   +1.8%

The U.S. dollar traded higher against the most major currencies amid the release of Federal Reserve's meeting minutes on Wednesday. Market participants are awaiting the Fed's view of the economy. Recently published U.S. economic data was mixed and showed uneven recovery of the U.S. economy.

The euro traded lower against the U.S. dollar due to expectations for further stimulus measures by European Central Bank and the weak growth figures in the Eurozone, published last week.

The producer price index in Germany decreased 0.1% in April, from a 0.3% decrease in March. Analysts had expected 0.0%. On a yearly basis, the German producer price index declined 0.9% in April (March: -0.9%). Analysts had forecasted a 0.7% decrease.

The British pound traded higher against the U.S. dollar after the release of the better-than-expected U.K. inflation data. The Office for National Statistics (ONS) released the inflation figures. On a yearly basis, the U.K. consumer price index increased 1.8% in April, from a 1.6% rise in March. Analysts had forecasted a 1.7% gain. On a monthly basis, the U.K. consumer price index climbed 0.4% in April, from a 0.2% rise in March. Analysts had forecasted a 0.3% increase.

The raise of the consumer price index was driven by the by transport and motoring costs.

The published consumer price index showed that the growth of the inflation is faster than the growth of wages. U.K. wages including bonuses increased 1.7% in March.

The Canadian dollar traded lower against the U.S. dollar amid the release of Canadian wholesale sales. Wholesale sales in Canada should increase 0.5% in March, from a 1.1% rise in February.

EUR/USD: the currency pair declined to $1.3677

GBP/USD: the currency pair increased to $1.6864

USD/JPY: the currency pair declined to Y101.23

The most important news that are expected (GMT0):

12:30    Canada   Wholesale Sales, m/m                                        March   +1.1%       +0.5% 

16:30    U.S.        FOMC Member Charles Plosser Speaks                                                           

17:00    U.S.        FOMC Member Dudley Speak                                                                 

23:50    Japan     Adjusted Merchandise Trade Balance, bln            April      -1714.2      -600.0