Foreign exchange market. American session: the Canadian dollar dropped against the U.S. dollar despite the better-than-expected Canadian current account data

The U.S. dollar traded higher against the most major currencies. Markets in the U.S. are closed for a public holiday.

The euro traded lower against the U.S. dollar. German preliminary consumer price index was flat in November, in line with expectations, after a 0.3% decline in October.

The number of unemployed people in Germany declined by 14,000 in November, beating expectations for a 1,000 decline, after a 23,000 drop in October. October's figure was revised up from a 22,000 decrease.

Germany's adjusted unemployment rate remained unchanged at 6.6% in November, beating expectations for an increase to 6.7%. October's figure was revised down from 6.7%.

The Gfk German consumer confidence index increased to 8.7 in December from 8.5 in November, beating forecasts for a rise to 8.6.

Eurozone's adjusted M3 money supply remained unchanged 2.5% in October, missing expectations for a 2.6% increase.

Eurozone's private loans fell 1.1% in October, missing forecasts of a 1.0% decrease, after a 1.2% drop in September.

The British pound fell against the U.S. dollar in the absence of any major economic data from the U.K.

The Canadian dollar dropped against the U.S. dollar despite the better-than-expected Canadian current account data. Canadian current account deficit narrowed to C$8.4 billion in the third quarter from a deficit of C$9.9 billion in the second quarter. The second quarter figure was revised up from a deficit of C$11.9 billion. Analysts had expected a deficit of C$10.3 billion.

That was the best reading in six years.

The New Zealand dollar decreased against the U.S. dollar. In the overnight trading session, the kiwi traded higher against the greenback despite the weaker-than-expected trade data from New Zealand. New Zealand's trade deficit narrowed to NZ$908 million in October from a deficit of NZ$1.35 billion in September, but missing expectations for a deficit of NZ$645 million.

The Australian dollar traded lower against the U.S. dollar. In the overnight trading session, the Aussie increased against the greenback due to solid economic data from Australia. Private capital expenditure in Australia climbed 0.2% in the third quarter, beating expectations for a 1.6% decline, after a 1.6 gain in the second quarter. The second quarter's figure was revised up from a 1.1% increase.

Australia's new home sales climbed 3.0% in October, after the flat reading in September.

The Japanese yen traded lower against the U.S. dollar in the absence of any major economic reports from Japan.