The dollar weakened before a report that economists said will show U.S. manufacturing picked up in March, undermining demand for the safest assets.

The greenback depreciated toward the lowest level in a month versus the euro after a report showed German manufacturing output unexpectedly improved. Australia’s dollar rose after a Chinese manufacturing gauge released yesterday advanced, easing concern the world’s second-largest economy is slowing.

The Institute for Supply Management’s factory index for the U.S. probably rose to 53 last month from 52.4 in February, according to the median estimate of economists.

EUR/USD: the most part of the European session the pair  was limited $1,3330-$ 1,3380.

GBP/USD: the pair showed high in area $1,6030, but receded later.

USD/JPY: the pair receded from high in Y83,30 area Y82,50.

At 1400GMT, the ISM manufacturing index is expected to rise to a reading of 53.0 in March after the surprise February decline. At 1430GMT, the weekly MNI Retail Trade Index is also due. At 1635GMT, Cleveland Federal Reserve Bank President Sandra Pianalto speaks to the Economic Roundtable of the Ohio Valley and will take questions from the audience, in Marietta, Ohio.