Foreign exchange market. European session: the U.S. dollar traded lower against the euro and the British pound ahead the publication of pending home sales

Economic calendar (GMT0):

06:00    Germany                            Import prices                 March   -0.1%   0.0%      -0.6%

06:00    Germany                            Import prices Y/Y           March   -2.7%   -2.8%    -3.3%

08:00    Eurozone                           ECB’s Vitor Constancio Speaks

The euro increased against the U.S. dollar. Market participants hope that the Eurozone inflation will be higher in this month. The report on euro zone inflation will be published on Wednesday. German import prices declined 0.6% in March. The projected figure was 0.0%.

The U.S. dollar traded lower against the euro and the British pound ahead the publication of pending home sales. Analysts forecasted the increase 1.0%. The British currency was supported by expectations that the Bank of England could hike interest rates in the next year. Additionally, the potential AstraZeneca deal had a positive influence on the British pound.

EUR/USD: the currency pair has reached 1.3879

GBP/USD: the currency pair climbed to 1.6853

USD/JPY: the currency pair has reached Y102.39

The most important news that are expected (GMT0):

14:00    U.S.                       Pending Home Sales (MoM)     March   -0.8%   +1.0% 

14:30    Eurozone                ECB President Mario Draghi Speaks                                                    

22:45    New Zealand           Trade Balance, mln                 March   818        910