Foreign exchange market. European session: the euro declined against the U.S. dollar after the weaker-than-expected economic data from Germany

Economic calendar (GMT0):

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

02:00 China Leading Index August +1.3% +0.7%

06:00 Germany Gfk Consumer Confidence Survey October 8.6 8.5 8.3

The U.S. dollar traded mixed to higher against the most major currencies ahead of the U.S. final gross domestic product (GDP). Analysts expect U.S. GDP to increase 4.6% in the second quarter, up from a previous reading of a 4.2% gain.

The final Reuters/Michigan consumer sentiment index is expected to climbs to 85.1 in September, up from a previous reading of 84.6.

The greenback remained supported on speculation the Fed will start to hike its interest rates sooner than expected. The Dallas Federal Reserve President Richard Fisher said yesterday that the Fed may start hiking its interest rates around the spring of 2015.

The euro declined against the U.S. dollar after the weaker-than-expected economic data from Germany. The Gfk consumer confidence index for Germany fell to 8.3 in October from 8.6 in September. Analysts had expected the index to decline to 8.5.

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

EUR/USD: the currency pair fell to $1.2724

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair rose to Y109.16

The most important news that are expected (GMT0):

12:30 U.S. PCE price index, q/q Quarter II +2.5%

12:30 U.S. PCE price index ex food, energy, q/q Quarter II +2.0%

12:30 U.S. GDP, q/q (Finally) Quarter II +4.2% +4.6%

13:55 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) September 84.6 85.1