The U.S. dollar traded lower against the most major currencies after the release of mixed U.S. economic data. The personal spending in the U.S. declined 0.1% in April, after a 0.9% in March. Analysts had expected a rise of 0.2%.

The personal income in the U.S. increased 0.3% in April, meeting expectations, after a 0.5% gain in March.

Reuters/Michigan consumer sentiment index declined to 81.9 in May, from 82.8 in April. Analysts had forecasted the index to climb to 82.9.

The Chicago purchasing managers' index climbed to a seven-month high of 65.5 in May, from 63.0 in March. Analysts had expected a decrease to 60.2.

The euro increased against the U.S. dollar. The German adjusted retail sales dropped 0.9% in April, after a 0.7% decline in March. Analysts had expected a 0.4% rise.

The unadjusted retail sales in Germany climbed 3.4% in April, after a decrease of 1.9% in March.

The British pound climbed against the U.S. dollar in the absence of any major economic reports in the U.K.

The Swiss franc traded higher against the U.S. dollar. KOF leading indicator for Switzerland dropped to 99.8 in May from 101.8 in April. April’s figure was revised down to 101.8 from 102.04. Analysts had expected an increase to 102.05.

The Canadian dollar declined against the U.S. dollar due to the weak Canadian gross domestic product. The Canadian gross domestic product increased 0.1% in March, meeting analysts’ expectations, after a 0.2% gain in February. This data means that the Bank of Canada will likely keep interest rates unchanged next week.

The raw material price index in Canada climbed 0.1% in April, after a 0.6% rise in March. Analysts had expected a 1.2% gain.

The New Zealand dollar traded mixed against the U.S dollar. The number of new dwellings excluding apartments in New Zealand climbed 2.7% on year. That is the highest level since September 2007.

The building permits in New Zealand increased 1.5% in April, after an 8.3% gain in March.

The Australian dollar was up against the U.S. dollar after the release of the better-than-expected private sector credit data in Australia, but later lost its gains. The private sector credit data in Australia increased 0.5% in April, from a 0.4% rise in March. Analysts had expected a 0.4% gain. On a yearly basis, the private sector credit data in Australia rose 4.6% in April, from a 4.4% rise in March.

The Japanese yen traded mixed against the U.S. dollar after release of mixed economic data in Japan. Japan's core consumer price index excluding fresh food climbed at an annual rate of 3.2% in April, after a 1.3% increase in March. That was the fastest pace since February 1991. Analysts had expected 3.1% rise.

Household spending in Japan declined by an annualized rate of 4.6% in April, after a 7.2% rise in March. Analysts had forecasted a 3.2% decrease.

The industrial production in Japan decreased 2.5% in April, after a 0.7% gain in March. Analysts had expected a 1.9% drop.