Economic calendar (GMT0):

06:00    Switzerland          Trade Balance                   April        1.99      2.05       2.42

07:15    Switzerland          Employment Level            Quarter I  4.19      4.21       4.19

08:30    United Kingdom   BBA Mortgage Approvals   April         45.9      45.2       42.2

The U.S. dollar traded lower against the most major currencies. Markets in the U.S. were closed for the Memorial Day holiday.

The New Zealand dollar rose against the U.S in the absence of any major economic reports in New Zealand.

The Australian dollar climbed to 1-week highs against the U.S. dollar in the absence of any major economic reports in Australia.

The Japanese yen increased against the U.S. dollar after the release of corporate services price index in Japan. The corporate services price index in Japan climbed 3.4% in April, from 0.7% in March. Analysts had expected a 3.3% increase.

EUR/USD: the currency pair increased to $1.3665

GBP/USD: the currency pair climbed to$1.6870

USD/JPY: the currency pair declined to Y101.92

The most important news that are expected (GMT0):

12:30    U.S.                       Durable Goods Orders                              April      +2.9%   -0.4%   

12:30    U.S.                       Durable Goods Orders ex Transportation  April      +2.4%   +0.2%  

12:30    U.S.                       Durable goods orders ex defense             April      +1.8%                 

13:00    U.S.                       S&P/Case-Shiller Home Price Indices, y/y  March   +12.9% +11.9%

13:30    Eurozone               ECB President Mario Draghi Speaks                                                     

13:43    U.S.                       Services PMI (Preliminary)                         April      55.0      55.6      

14:00    U.S.                       Richmond Fed Manufacturing Index          May       7            5            

14:00    U.S.                       Consumer confidence                               May       82.3      83.2