Economic calendar (GMT0):

06:45 France Consumer spending May -0.3% +0.3% +1.0%

06:45 France Consumer spending, y/y May -0.5% -0.6%

07:00 Switzerland KOF Leading Indicator June 99.8 99.1 100.4

08:30 United Kingdom Current account, bln Quarter I -22.4 -17.1 -18.5

08:30 United Kingdom Business Investment, q/q Quarter I +2.7% +2.7% +5.0%

08:30 United Kingdom Business Investment, y/y Quarter I +8.7% +8.7% +10.6%

08:30 United Kingdom GDP, q/q (Finally) Quarter I +0.8% +0.8% +0.8%

08:30 United Kingdom GDP, y/y (Finally) Quarter I +3.1% +3.1% +3.0%

09:00 Eurozone EU Economic Summit

The U.S. dollar traded lower against the most major currencies after comments by St. Louis Fed President James Bullard. He told Fox Business Network that the Fed' interest rate hike by the end of the first quarter in 2015 will be appropriate, if the U.S. economy grows 3% in the next four quarters.

The New Zealand dollar traded higher against the U.S dollar after New Zealand's better-than-expected trade balance surplus. New Zealand's trade balance declined to NZ$285 million in May from NZ$498 million in April, beating expectations for a drop to NZ$250 million. April's figure was revised down from NZ$534 million.

The Australian dollar traded higher against the U.S. dollar in the absence of any major economic data in Australia. The Aussie was supported by the weak U.S. economic data.

The Japanese yen rose against the U.S. dollar after the economic data from Japan. Japan's national CPI excluding fresh food increased 3.4% in May, in line with expectations, after a 3.2% gain in April.

Japan's national CPI rose 3.4% in May, after a 3.4% gain.

The Japanese unemployment rate declined to 3.4% in May, exceeding expectations for 3.6%, after 3.6% in April.

Household spending in Japan dropped 8%, missing expectations for a 1.9% decline in May, after a 4.6% decrease in April.

Retail sales in Japan decreased 0.4% in May, after a 4.3% decline in April. Analysts had expected a 1.9% decline.

EUR/USD: the currency pair increased to $1.3630

GBP/USD: the currency pair rose to $1.7050

USD/JPY: the currency pair declined Y101.30

The most important news that are expected (GMT0):

12:00 Germany CPI, m/m (Preliminary) June -0.1% +0.2%

12:00 Germany CPI, y/y (Preliminary) June +0.9%

12:30 Canada Raw Material Price Index May +0.1% +1.3%

13:55 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) June 81.2 82.2