Economic calendar (GMT0):

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

00:00 Japan Bank holiday

The U.S. dollar is trading near a two-year high against the euro after European Central Bank President Mario Draghi said last Friday the ECB will do what is necessary to fight disinflation. The annual rate on inflation in the Eurozone was 0.4% in October, well below the ECB's target of 2%. Markets are awaiting IFO data on German business sentiment published at 09:00 GMT.

The Australian dollar and the New Zealand dollar continued to climb after China, Australia's largest and New Zealand's second largest trade partner, unexpectedly cut interest rates for the first time since 2012 to counter economic slowdown.

The Japanese yen is trading mixed against the U.S. dollar after recovering from its lows on Thursday after Japan's Finance Minister Taro Aso said on Friday that the Japanese yen has fallen too quickly. Japanese markets are closed today for a public holiday.

EUR/USD: the euro slightly recovered against the greenback

USD/JPY: the U.S. dollar traded mixed against the Japanese yen

GPB/USD: The British pound traded stronger against the U.S. dollar

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

08:15 Switzerland Employment Level Quarter III 4.20 4.22

09:00 Germany IFO - Business Climate November 103.2 103.0

09:00 Germany IFO - Current Assessment November 108.4 108.2

09:00 Germany IFO - Expectations November 98.3 98.5

14:00 Belgium Business Climate November -6.8 -5.3

14:45 U.S. Services PMI (Preliminary) November 57.1 57.3

23:50 Japan Monetary Policy Meeting Minutes