Foreign exchange market. American session: the Canadian dollar traded lower against the U.S. dollar after a speech by the Bank of Canada Governor Stephen Poloz

The U.S. dollar traded higher against the most major currencies after the better-than-expected U.S. economic data. The number of initial jobless claims in the week ending March 21 in the U.S. fell by 9,000 to 282,000 from 291,000 in the previous week, beating expectations for a rise by 4,000.

Markit's preliminary services PMI for the U.S. rose to 58.6 in March from 57.1 in February, exceeding expectations for a gain to 57.2.

The euro traded lower against the U.S. dollar. Concerns over Greece's bailout programme weighed on the euro.

The Gfk German consumer confidence index increased to 10.0 in April from 9.7 in March, beating forecasts for a rise to 9.8.

Eurozone's adjusted M3 money supply rose 3.7% in February, missing expectations for a 4.3% increase, after a 3.7 gain in January. January's figure was revised down from a 4.1% rise.

The British pound traded lower against the U.S. dollar. Retail sales in the U.K. increased 0.7% in February, exceeding expectations for a 0.4% rise, after a 0.1% gain in January. January's figure was revised up from a 0.3% drop.

The increase was driven by a drop in store prices.

On a yearly basis, retail sales in the U.K. climbed 5.7% in February, after a 5.9% increase in January. January's figure was revised up from a 5.4% rise.

The Confederation of British Industry (CBI) retail sales balance climbed to 18% in March from 1% in February, missing expectations for an increase to 20%.

The CBI director of economics, Rain Newton-Smith, said that he expects "growth to continue through Easter".

The Canadian dollar traded lower against the U.S. dollar after a speech by the Bank of Canada Governor Stephen Poloz. He said that interest rate cut was needed to deal with falling oil prices.

Poloz noted that falling oil prices weighed on the economic growth and the interest rate cut has given the central bank time to monitor the situation.

The New Zealand dollar traded lower against the U.S. dollar. In the overnight trading session, the kiwi traded lower against the greenback in the absence of any major economic reports from New Zealand.

The Australian dollar traded lower against the U.S. dollar. In the overnight trading session, the Aussie traded lower against the greenback in the absence of any major economic reports from Australia.

The Japanese yen traded lower against the U.S. dollar. In the overnight trading session, the yen rose against the greenback due to a weaker U.S. dollar. There were released no major economic reports in Japan.