Foreign exchange market. European session: the euro traded lower against the U.S. dollar despite hopes for a deal between Greece and its creditors

Economic calendar (GMT0):

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

01:00 Australia Consumer Inflation Expectation June 3.6% 3.0%

01:30 Australia Unemployment rate May 6.1% Revised From 6.2% 6.2% 6.0%

01:30 Australia Changing the number of employed May -13.7 Revised From -2.9 11 42

05:30 China Retail Sales y/y May 10.0% 10.1% 10.1%

05:30 China Industrial Production y/y May 5.9% 6.0% 6.1%

05:30 China Fixed Asset Investment April 12.0% Revised From 13.5% 12% 11.4%

06:45 France CPI, m/m May 0.1% 0.2%

06:45 France CPI, y/y May 0.1% 0.3%

The U.S. dollar traded higher against the most major currencies ahead of U.S. economic data. The U.S. retail sales are expected to rise 1.1% in May, after a flat reading in April.

Retail sales excluding automobiles are expected to climb 0.7% in May, after a 0.1% increase in April.

The number of initial jobless claims in the U.S. is expected to increase by 1,000 to 277,000 last week.

The U.S. business inventories are expected to rise 0.2% in April, after a 0.1% gain in March.

The euro traded lower against the U.S. dollar despite hopes for a deal between Greece and its creditors. Greek Prime Minister Alexis Tsipras, German Chancellor Angela Merkel and French President François Hollande Wednesday agreed to intensify the debt talks.

The head of the Eurogroup Jeroen Dijsselbloem said in Helsinki on Wednesday that a deal between Greece and its creditors can still be reached. But he warned that the time was running out.

Yields of German government bonds continued to rise on Thursday.

Meanwhile, the economic from the Eurozone was positive. The French statistical office Insee said its consumer price inflation for France. The French consumer price inflation rose 0.2% in May, after a 0.1% increase in April.

On a yearly basis, the consumer price index climbed 0.3% in May, after a 0.1% rise.

Fresh food prices rose 6.4% year-on-year in May, while petroleum products prices dropped by 6.3%.

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 lower against the U.S. dollar ahead of the Canadian housing market data. Canada's new housing price index is expected to rise 0.1% in April, after a flat reading in March.

EUR/USD: the currency pair decreased to $1.1225

GBP/USD: the currency pair declined to $1.5425

USD/JPY: the currency pair rose to Y123.80

The most important news that are expected (GMT0):

12:30 Canada New Housing Price Index, MoM April 0% 0.1%

12:30 U.S. Retail sales May 0.0% 1.1%

12:30 U.S. Retail sales excluding auto June 0.1% 0.7%

12:30 U.S. Initial Jobless Claims June 276 277

14:00 U.S. Business inventories April 0.1% 0.2%

15:15 Canada BOC Gov Stephen Poloz Speaks

22:30 New Zealand Business NZ PMI May 51.8