Foreign exchange market. European session: the British pound traded lower against the U.S. dollar after the U.K. economic data

Economic calendar (GMT0):

06:45 France Consumer spending May -0.3% +0.3% +1.0%

06:45 France Consumer spending, y/y May -0.5% -0.6%

07:00 Switzerland KOF Leading Indicator June 99.8 99.1 100.4

08:30 United Kingdom Current account, bln Quarter I -22.4 -17.1 -18.5

08:30 United Kingdom Business Investment, q/q Quarter I +2.7% +2.7% +5.0%

08:30 United Kingdom Business Investment, y/y Quarter I +8.7% +8.7% +10.6%

08:30 United Kingdom GDP, q/q (Finally) Quarter I +0.8% +0.8% +0.8%

08:30 United Kingdom GDP, y/y (Finally) Quarter I +3.1% +3.1% +3.0%

09:00 Eurozone EU Economic Summit

The U.S. dollar traded mixed against the most major currencies due to yesterday's weak U.S. economic data. Personal incomes in the U.S. increased by 0.4% in May, missing expectations for a 0.5% gain, after a 0.3% rise in April.

Personal spending in the U.S. rose 0.2% in June, missing forecasts of a 0.4% increase, after a 0.1% decline in May.

The euro traded mixed against the U.S. dollar. The consumer spending in France increased 1.0% in May, exceeding expectations for a 0.3% gain, after a 0.3% decline in April.

On a yearly basis, the consumer spending in France declined 0.6% in May, after a 0.5% drop in April.

The British pound traded lower against the U.S. dollar after the U.K. economic data. The gross domestic product in the U.K. rose 0.8% in the first quarter, in line with expectations, after a 0.8% gain the previous quarter. On a yearly basis, the U.K. GDP increased 3.0% in the first quarter, missing forecasts of a 3.1% rise, after a 3.1% gain the previous quarter.

The U.K. current account deficit declined to £18.5 billion in the first quarter, from £23.5 billion in the fourth quarter of 2013. The fourth quarter's figure was revised down from a deficit of £22.4 billion. Analysts had expected the current account deficit to decrease to £17.1 billion.

Business Investment in the U.K. rose 5.0% in first quarter, exceeding expectations for a 2.7% gain, after a 2.7% rise the previous quarter. On a yearly basis, business Investment in the U.K. surged 10.6% in first quarter, beating expectations for a 8.7% rise, after a 2.7% increase the previous quarter.

The Swiss franc traded mixed against the U.S. dollar after the release of KOF leading indicator. The KOF leading indicator for Switzerland increased to 100.4 in June from 99.8 in May, beating expectations for a decline to 99.1.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair declined to $1.7014

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

12:00 Germany CPI, m/m (Preliminary) June -0.1% +0.2%

12:00 Germany CPI, y/y (Preliminary) June +0.9%

12:30 Canada Raw Material Price Index May +0.1% +1.3%

13:55 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) June 81.2 82.2