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    Foreign exchange market. European session: the British pound traded lower against the U.S. dollar after the weaker-than-expected data from the U.K. | 23.02.2015

     

    Economic calendar (GMT0):

     

     

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

     

     

    00:00 China Bank holiday

    02:00 New Zealand Credit Card Spending January 4.5% 6.2%

    09:00 Germany IFO - Business Climate February 106.7 107.4 106.8

    09:00 Germany IFO - Expectations February 102.0 103.0 102.5

    09:00 Germany IFO - Current Assessment February 111.7 112.7 111.3

    11:00 United Kingdom CBI retail sales volume balance February 39 42 1

    The U.S. dollar traded mixed against the most major currencies ahead the U.S. preliminary existing home sales data. The existing home sales in the U.S. are expected to decrease to 5.03 million units in January from 5.04 million units in December.

     

     

    The euro dropped against the U.S. dollar despite new bailout deal between Greece and the European Union. Greece and the European Union agreed on Friday to extend Greek bailout programme by four months.

     

     

    German Ifo business climate index rose to 106.8 in February from 106.7 in January, missing expectations for a rise to 107.4.

     

     

    The British pound traded lower against the U.S. dollar after the weaker-than-expected data from the U.K. The Confederation of British Industry released its monthly Distributive Trades survey on Monday. The CBI retail sales balance dropped to 1% in February from 39% in January, missing expectations for an increase to 42%. That was the lowest level since November 2013.

     

     

    The drop was largely driven by lower supermarkets and department stores sales.

     

     

    Sales expectations for March declined to 27% from 42% in February.

     

     

    EUR/USD: the currency pair declined to 1.1294

     

     

    GBP/USD: the currency pair fell to $1.5331

     

     

    USD/JPY: the currency pair rose to Y119.36

     

     

    The most important news that are expected (GMT0):

     

     

    15:00 U.S. Existing Home Sales January 5.04 5.03


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