Foreign exchange market. European session: the euro traded higher against the U.S. dollar after mixed economic data from the Eurozone

Economic calendar (GMT0):

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

01:00 Australia HIA New Home Sales, m/m April 4.4% 0.6%

01:00 New Zealand ANZ Business Confidence April 30.2 15.7

01:30 Australia Private Sector Credit, y/y April 6.2% 6.1%

01:30 Australia Private Sector Credit, m/m April 0.5% 0.5% 0.3%

05:00 Japan Housing Starts, y/y April 0.7% 0% 0.4%

05:45 Switzerland Gross Domestic Product (QoQ) Quarter I 0.5% Revised From 0.6% -0.1% -0.2%

05:45 Switzerland Gross Domestic Product (YoY) Quarter I 1.9% 1.5% 1.1%

06:00 Germany Retail sales, real adjusted April -1.4% Revised From -2.3% 0.8% 1.7%

06:00 Germany Retail sales, real unadjusted, y/y April 4.3% Revised From 3.5% 2.5% 1.0%

06:45 France Consumer spending April -0.7% Revised From -0.6% +0.1%

06:45 France Consumer spending, y/y April 1.7% Revised From 2.1% 2.0%

07:00 Switzerland KOF Leading Indicator May 89.8 Revised From 89.5 90 93.1

08:00 Eurozone Private Loans, Y/Y April 0.1% 0.2% 0.0%

08:00 Eurozone M3 money supply, adjusted y/y April 4.6% 4.9% 5.3%

09:00 G7 G7 Meetings

The U.S. dollar traded mixed against the most major currencies ahead of U.S. economic data. The U.S. revised GDP is expected to fall 0.1% in first quarter, down from the previous estimate of a 0.2% gain.

The Chicago purchasing managers' index is expected to rise to 53.0 in May from 52.3 in April.

The final Reuters/Michigan Consumer Sentiment Index is expected to decline to 89.9 in May from 95.9 in April.

The euro traded higher against the U.S. dollar after mixed economic data from the Eurozone. The European Central Bank (ECB) released its M3 money supply figures on Friday. M3 money supply rose 5.3% in April from last year, exceeding expectations for a 4.9% gain, after a 4.6 % increase in March.

During three months to April, M3 money supply rose to 4.7% from 4.2% in the January to March period.

The lending for house purchase climbed 0.1% in three months to April, after a 0.2% rise a quarter ago.

Loans to the private sector in the Eurozone were flat in April from the last year, missing expectations for a 0.2% gain, after a 0.1% increase in March.

Destatis released its retail sales for Germany on Friday. German adjusted retail sales rose 1.7% in April, beating forecasts of a 0.8% rise, after a 1.4% decline in March. It was the first rise in three months. March's figure was revised up from a 2.3% decrease.

On a yearly basis, German retail sales climbed 1.0% in April, missing expectations for a 2.5% gain, after a 4.3% rise in March. March's figure was revised up from a 3.5% increase.

Sales of non-food products in Germany increased at an annual rate of 2.4% in April, while sales of food products declined by 2.1%.

French statistical office INSEE released its consumer spending data on Friday. French consumer spending increased 0.1% in April, after a 0.7% fall in March. March's figure was revised down from a 0.6% decrease.

Spending on food was up 0.4% in April, spending on automobiles rose 0.1%, spending on household durables fell 0.2%, while spending on energy declined 0.3%.

Spending on manufactured goods increased 0.3% in April.

On a yearly basis, consumer spending in France climbed 2% in April.

The Greek debt crisis still weighed on the euro. The International Monetary Fund (IMF) offered Athens three more weeks to repay IMF loans.

International Monetary Fund Director Christine Lagarde said in an interview to a German newspaper that a Greek exit from the Eurozone is possible.

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

The Canadian dollar traded mixed against the U.S. dollar ahead of Canadian GDP data. Canada's GDP is expected to grow at an annual rate of 0.3% in in the first quarter, after a 2.4% rise in the fourth quarter.

The Swiss franc traded higher against the U.S. dollar after mixed economic data from Switzerland. Switzerland's GDP decreased 0.2% in the first quarter, missing expectations for a 0.1% fall, after a 0.5% gain in the fourth quarter. The fourth quarter's figure was revised down from a 0.6% gain.

On a yearly basis, Switzerland's economy grew at 1.1% in the fourth quarter, missing expectations for a 1.5% rise, after a 1.9% increase in the fourth quarter.

The KOF leading indicator climbed to 93.1 in May from 89.8 in April, exceeding expectations for a rise to 90.0. April's figure was revised up from 89.5.

EUR/USD: the currency pair rose to $1.0990

GBP/USD: the currency pair fell to $1.5235

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

12:30 Canada GDP QoQ Quarter I 0.6%

12:30 Canada GDP (YoY) Quarter I 2.4% 0.3%

12:30 U.S. PCE price index, q/q (Revised) Quarter I -0.4% -2%

12:30 U.S. PCE price index ex food, energy, q/q (Revised) Quarter I 1.1% 0.9%

12:30 U.S. GDP, q/q (Revised) Quarter I 0.2% -0.1%

13:45 U.S. Chicago Purchasing Managers' Index May 52.3 53.0

14:00 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) May 95.9 89.9