Foreign exchange market. European session: the euro higher against the U.S. dollar in the absence of any major economic reports from the Eurozone

Economic calendar (GMT0):

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

00:30 Australia Home Loans October 2.0% -1% -0.5%

01:30 China PPI y/y November -5.9% -5.9% -5.9%

01:30 China CPI y/y November 1.3% 1.4% 1.5%

06:00 Japan Prelim Machine Tool Orders, y/y November -22.9% Revised From -23.1% -17.9%

06:45 Switzerland Unemployment Rate (non s.a.) November 3.3% 3.3% 3.4%

07:00 Germany Current Account October 25.0 Revised From 25.1 23.0

07:00 Germany Trade Balance (non s.a.), bln October 22.8 Revised From 22.9 22.5

12:00 U.S. MBA Mortgage Applications December -0.2% 1.2%

The U.S. dollar traded lower against the most major currencies ahead the release of the U.S. wholesale inventories data. Wholesale inventories in the U.S. are expected to rise 0.1% in October, after a 0.5% increase in September.

The euro higher against the U.S. dollar in the absence of any major economic reports from the Eurozone.

Meanwhile, the economic data from Germany was weaker than in the previous period. Destatis released its trade data for Germany on Wednesday. Germany's seasonally adjusted trade surplus increased to €20.8 billion in October from 19.2 in September.

Exports fell at a seasonally and calendar-adjusted 1.2% in October, while imports dropped 3.4%.

On a yearly basis, German exports increased 3.3% in October, while imports rose by 3.0%.

Germany's current account surplus was at €23.0 billion in October, down from €25.0 billion in September. September's figure was revised down from a surplus of €25.1 billion.

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

The Swiss franc traded higher against the U.S. dollar. The Swiss State Secretariat for Economic Affairs released its unemployment data for Switzerland on Wednesday. The Swiss unemployment rate remained at a seasonally adjusted 3.4% in November.

On a seasonally unadjusted basis, the unemployment rate in Switzerland increased to 3.4 in November from 3.3% in October. Analysts had expected the unemployment rate to remain unchanged at 3.3%.

The number of unemployed people in Switzerland rose by 6,874 to 148,143 in November from a month earlier.

The youth unemployment rate was down to 3.3% in November from 3.5% in October.

EUR/USD: the currency pair rose to $1.0946

GBP/USD: the currency pair increased to $1.5092

USD/JPY: the currency pair decreased to Y122.44

The most important news that are expected (GMT0):

15:00 U.S. Wholesale Inventories October 0.5% 0.1%

15:30 U.S. Crude Oil Inventories December 1.177 0.0

20:00 New Zealand RBNZ Interest Rate Decision 2.75% 2.5%

20:00 New Zealand RBNZ Rate Statement

20:05 New Zealand RBNZ Press Conference

23:50 Japan BSI Manufacturing Index Quarter IV 11 12.1