Foreign exchange market. European session: the British pound traded higher against the U.S. dollar after the better-than-expected U.K. trade data

Economic calendar (GMT0):

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

01:30 Australia Home Loans May 0.7% Revised From 1.0% -3.5% -6.1%

05:00 Japan Consumer Confidence June 41.4 41.7

06:45 France Industrial Production, y/y May 1.1% 1.6%

06:45 France Industrial Production, m/m May -0.8% Revised From -0.9% 0.4% 0.4%

08:30 United Kingdom Total Trade Balance May -1.834 Revised From -1.202 -0.393

The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. wholesale inventories data and ahead of a speech by the Fed Chair Janet Yellen. Wholesale inventories in the U.S. are expected to rise 0.3% in May, after a 0.4% gain in April.

A speech by the Fed Chair Janet Yellen is scheduled to be at 16:30 GMT.

The euro traded higher against the U.S. dollar on hopes for a deal between Athens and its lenders. Athens sent new reform proposals to its lenders two hours before the deadline on Thursday. New proposals includes VAT reforms, other tax policies, pension and public sector reforms, higher corporate tax and the privatization of the port and the railway companies.

Greece's creditors will likely make a decision on Greek reform proposals today.

Meanwhile, the economic data from the Eurozone was mixed. German wholesale prices declined 0.2% in June, after a 0.5% increase in May.

On a yearly basis, wholesale prices in Germany fell 0.5% in June, after a 0.4% drop in May.

The fall was largely driven by a 10.5% decline in the wholesale prices of solid fuels and related products.

Industrial production in France rose 0.4% in May, in line with expectations, after a 0.7% decline in April.

The increase was driven by a rise in in output in the transport and automobile sector, which climbed 2.3% in May.

France's current account surplus decreased to €0.3 billion in May from €0.4 billion in April.

The decline in current account surplus was driven by a higher goods deficit.

The British pound traded higher against the U.S. dollar after the better-than-expected U.K. trade data. The U.K. trade deficit in goods narrowed to £8.0 billion in May from £9.8 billion in April. It was the lowest level since June 2013.

April's figure was revised down from a deficit of £8.56 billion.

The decline in the trade deficit was driven by a drop in imports. Imports dropped by 5.5% in May, while exports of goods rose 0.1%.

The total trade deficit, including services, narrowed to £393 million in May from £1.834 billion in April. It was the lowest total trade deficit since June 2013.

April's figure was revised down from a deficit of £1.202 billion.

The Canadian dollar traded mixed against the U.S. dollar ahead of Canadian labour market data. The unemployment rate in Canada is expected to rise to 6.9% in June from 6.8% in May.

Canada's economy is expected to lose 10,000 jobs in June.

EUR/USD: the currency pair rose to $1.1215

GBP/USD: the currency pair increased to $1.5550

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

The most important news that are expected (GMT0):

12:30 Canada Unemployment rate June 6.8% 6.9%

12:30 Canada Employment June 58.9 -10

14:00 U.S. Wholesale Inventories May 0.4% 0.3%

16:30 U.S. Fed Chairman Janet Yellen Speaks