Foreign exchange market. European session: the British pound traded higher against the U.S. dollar on the industrial production data from the U.K.

Economic calendar (GMT0):

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

01:30 Australia Home Loans April -0.7% Revised From -0.9% 2.5% 1.7%

02:00 China Trade Balance, bln May 45.56 58 49.9

06:00 Japan Eco Watchers Survey: Current May 43.5 43

06:00 Japan Eco Watchers Survey: Outlook May 45.5 47.5

07:15 Switzerland Consumer Price Index (MoM) May 0.3% 0.2% 0.1%

07:15 Switzerland Consumer Price Index (YoY) May -0.4% -0.4% -0.4%

08:30 United Kingdom Industrial Production (MoM) April 0.3% 0% 2%

08:30 United Kingdom Industrial Production (YoY) April -0.2% -0.4% 1.6%

08:30 United Kingdom Manufacturing Production (MoM) April 0.1% 0% 2.3%

08:30 United Kingdom Manufacturing Production (YoY) April -1.9% 0.8%

The U.S. dollar traded lower against the most major currencies ahead of the release of the U.S. economic data. Job openings are expected to decline to 5.672 million in April from 5.757 million in March.

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

The British pound traded higher against the U.S. dollar on the industrial production data from the U.K. The Office for National Statistics (ONS) released its manufacturing and industrial production figures for the U.K. on Wednesday. Industrial production in the U.K. rose 2.0% in April, exceeding forecasts of a flat reading, after a 0.3% rise in March.

The increase was mainly driven by a rise in manufacturing.

On a yearly basis, industrial production in the U.K. increased 1.6% in April, beating expectations for a 0.4% drop, after a 0.2% decrease in March.

Manufacturing production in the U.K. was up 2.3% in April, beating expectations for a flat reading, after a 0.1% rise in March. It was the largest rise since July 2012.

The rise was mainly driven by an increase in the manufacture of basic pharmaceutical products and pharmaceutical preparations, which rose by 8.6% in April.

On a yearly basis, manufacturing production in the U.K. increased 0.8% in April, after a 1.9% drop in March.

The Canadian dollar traded higher against the U.S. dollar ahead of the release of the Canadian housing market data. Housing starts in Canada are expected to decline to 190,000 in May from 191,500 in April.

The Canadian building permits are expected to rise 1.5% in April, after a 7.0% drop in February.

The Swiss franc traded higher against the U.S. dollar. The Swiss Federal Statistics Office released its consumer inflation data on Wednesday. Switzerland's consumer price index rose 0.1% in May, missing expectations for a 0.2% gain, after a 0.3% increase in April.

The increase was mainly driven by higher prices for petroleum products, food and rents.

On a yearly basis, Switzerland's consumer price index remained unchanged at -0.4% in May, in line with forecasts.

EUR/USD: the currency pair was up to $1.1387

GBP/USD: the currency pair rose to $1.4599

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

12:15 Canada Housing Starts May 191.5 190

12:30 Canada Building Permits (MoM) April -7.0% 1.5%

14:00 United Kingdom NIESR GDP Estimate May 0.3%

14:00 U.S. JOLTs Job Openings April 5.757 5.672

14:30 U.S. Crude Oil Inventories June -1.366 -2.7

21:00 New Zealand RBNZ Interest Rate Decision 2.25% 2.25%

21:00 New Zealand RBNZ Rate Statement

23:00 New Zealand RBNZ Press Conference

23:50 Japan Core Machinery Orders, y/y April 3.2% -2.3%

23:50 Japan Core Machinery Orders April 5.5% -3.8%