Foreign exchange market. European session: the euro increased against the U.S. dollar despite the weaker-than-expected German Ifo business climate index

Economic calendar (GMT0):

02:00 China Leading Index May +0.9% +0.7%

06:00 Switzerland Trade Balance May 2.45 2.77 2.77

08:00 Germany IFO - Business Climate June 110.4 110.3 109.7

08:00 Germany IFO - Current Assessment June 114.8 114.8

08:00 Germany IFO - Expectations June 106.2 104.8

08:30 United Kingdom BBA Mortgage Approvals May 42.2 41.3 41.8

08:30 United Kingdom BOE Gov Mark Carney Speaks

08:30 United Kingdom Inflation Report Hearings

The U.S. dollar traded mixed against the most major currencies ahead of the U.S. economic data. S&P/Case-Shiller home price index should climb 11.7% in April, after a 12.4% rise in March.

The consumer confidence in the U.S. should rise to 83.6 in June from 83.0 in May.

The euro increased against the U.S. dollar despite the weaker-than-expected German Ifo business climate index. The German Ifo business climate index declined to 109.7 in June from 110.4 in May. That was the lowest level this year. Analysts had expected a fall to 110.3.

The German Ifo expectations index fell to 104.8 in June from 106.2 in May.

The British pound declined against the U.S. dollar after the speech of the Bank of England (BoE) Governor Mark Carney. Mark Carney testified before parliament's Treasury committee today. He said that the interest rate hike will be driven by the U.K. economic data. He also said that wages in the U.K. are softer than expected by the BoE.

These comment by Mark Carney means there is no need to hike interest rate.

The British Bankers Association release the mortgage approvals. The U.K. mortgage approvals climbed by £41,800 in May, exceeding expectations for a rise of £41,300, after an increase of £41,900 in April.

EUR/USD: the currency pair increased to $1.3628

GBP/USD: the currency pair decreased to $1.6972

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

12:05 U.S. FOMC Member Charles Plosser Speaks

13:00 Belgium Business Climate June -6.8 -4.1

13:00 U.S. S&P/Case-Shiller Home Price Indices, y/y April +12.4% +11.7%

14:00 U.S. Consumer confidence June 83.0 83.6

14:00 U.S. New Home Sales May 433 442

14:00 U.S. Treasury Sec Lew Speaks