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10.05.2016 19:44

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

Economic calendar (GMT0):

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

01:30 China PPI y/y April -4.3% -3.8% -3.4%

01:30 China CPI y/y April 2.3% 2.4% 2.3%

05:45 Switzerland Unemployment Rate (non s.a.) April 3.6% 3.5% 3.5%

06:00 Germany Current Account March 21.1 Revised From 20.0 30.4

06:00 Germany Industrial Production s.a. (MoM) March -0.7% Revised From -0.5% -0.3% -1.3%

06:00 Germany Trade Balance (non s.a.), bln March 20.2 Revised From 20.3 26.0

06:45 France Industrial Production, m/m March -1.3% Revised From -1.0% 0.3% -0.3%

06:45 France Industrial Production, y/y March 0.6% 0.5%

08:30 United Kingdom Total Trade Balance March -4.3 Revised From -4.84 -3.83

The U.S. dollar traded mixed to higher against the most major currencies ahead of the release of the U.S. economic data. Job openings are expected to decline to 5.412 million in March from 5.445 million in February.

Wholesale inventories in the U.S. are expected to rise 0.1% in March, after a 0.5% decrease in February.

The euro traded mixed against the U.S. dollar on the mixed economic data from the Eurozone. Destatis released its industrial production data for Germany on Tuesday. German industrial production fell 1.3% in March, missing expectations for a 0.3% drop, after a 0.7% decline in February. It was the biggest drop since August 2014.

German industrial production excluding energy and construction fell by 1.2% in March.

According to Destatis, Germany's trade surplus increased to €26.0 billion in March from 20.2 in February. February's figure was revised down from a surplus of €20.3 billion.

Exports climbed 1.9% in March, while imports were down 2.3%.

On a yearly basis, German exports decreased 0.5% in March, while imports slid by 4.3%.

Germany's current account surplus was €30.4 billion in March, up from €21.1 billion in February. February's figure was revised up from a surplus of €20.0 billion.

The French statistical office Insee its industrial production figures on Tuesday. Industrial production in France slid 0.3% in March, missing expectations for a 0.3% increase, after a 1.3% drop in February. February's figure was revised down from a 1.0% fall. Manufacturing output dropped 0.9% in March, while construction output jumped 1.2%.

The British pound traded mixed against the U.S. dollar on the U.K. trade data. The U.K. Office for National Statistics (ONS) released trade data for the U.K. on Tuesday. The U.K. trade deficit in goods narrowed to £11.2 billion in March from £11.4 billion in February.

The decline in deficit was driven by a rise in exports, which increased by £0.4 billion in March.

The total trade deficit for goods and services widened to £13.3 billion in the first quarter from £12.2 billion in the fourth quarter of 2015. It was the biggest gap since the first quarter of 2008.

The total trade deficit, including services, narrowed to £3.83 billion in March from £4.3 billion in February. February's figure was revised down from a deficit of £4.84 billion.

The Swiss franc traded lower against the U.S. dollar. The Swiss State Secretariat for Economic Affairs released its unemployment data for Switzerland on Tuesday. The Swiss unemployment rate increased to a seasonally adjusted 3.5% in April from 3.4% in March. March's figure was revised down from 3.5%.

On a seasonally unadjusted basis, the unemployment rate in Switzerland decreased to 3.5% in April from 3.6% in March, in line with expectations.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair climbed to Y109.27

The most important news that are expected (GMT0):

14:00 U.S. Wholesale Inventories March -0.5% 0.1%

14:00 U.S. JOLTs Job Openings March 5.445 5.412

21:00 New Zealand RBNZ Financial Stability Report

23:00 New Zealand RBNZ Press Conference

Market focus

  • U.S industrial production rose 0.6 percent in November after moving down 0.2 percent in October
  • UK PM May: Was Crystal Clear About Assurances Needed On Brexit
  • U.S retail sales were $513.5 billion in November, an increase of 0.2 percent from the previous month
  • Eurozone Composite PMI fell from 52.7 in November to 51.3 in December, its lowest since November 2014
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