Foreign exchange market. European session: the U.S. dollar traded higher against the most major currencies

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

10:00 Germany Bundesbank Monthly Report

The U.S. dollar traded higher against the most major currencies. The greenback remained supported by speculation the Fed will start to hike its interest rate sooner than expected.

The existing home sales in the U.S. are expected to increase to 5.21 million units in August from 5.15 million units in July.

The euro traded lower against the U.S. dollar. Germany's Bundesbank released its monthly report today. Bundesbank said the country's economy remains robust. Bundesbank added that the general economic trend will stay positive despite the slowing pace of expansion in the first half of 2014.

European Central Bank President Mario Draghi will speak in the European Parliament later in the day.

The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K.

EUR/USD: the currency pair declined to $1.2832

GBP/USD: the currency pair fell to $1.6321

USD/JPY: the currency pair rose to Y109.12

The most important news that are expected (GMT0):

13:00 Eurozone ECB President Mario Draghi Speaks

14:00 Eurozone Consumer Confidence September -10 -11

14:00 U.S. Existing Home Sales August 5.15 5.21

14:05 U.S. FOMC Member Dudley Speak

17:00 Canada Gov Council Member Wilkins Speaks

23:30 U.S. FOMC Member Narayana Kocherlakota