Data:

06:00 Germany CPI, m/m (finally) April +0.4% +0.1% +0.1%

06:00 Germany CPI, y/y (finally) April +2.3% +2.0% +2.2%

08:30 United Kingdom Producer Price Index - Input (MoM) April +1.9% -0.8% -1.5%

08:30 United Kingdom Producer Price Index - Input (YoY) April +5.8% +2.1% +1.2%

08:30 United Kingdom Producer Price Index - Output (MoM) April +0.6% +0.4% +0.7%

08:30 United Kingdom Producer Price Index - Output (YoY) April +3.6% +2.9% +3.3%

The euro rose from a three-month low against the dollar on optimism Greek political leaders will reach an agreement to form a new government that keeps the country in the single currency union. The 17-nation currency erased losses against the yen as Antonis Samaras, leader of Greece’s New Democracy Party, said four political parties have accepted term of no exit from the euro region.

Gross domestic product in the euro area will drop 0.3 percent this year, the European Commission said, reiterating a February forecast. Greece will have the deepest contraction, with GDP shrinking 4.7 percent, while the economies of Spain and Italy are seen contracting 1.8 percent and 1.4 percent.

The dollar and yen rose against most of their major counterparts after JPMorgan Chase & Co. said it made a surprise $2 billion trading loss, boosting demand for safer assets.