Economic calendar (GMT0):

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

00:00 New Zealand Bank holiday

10:00 United Kingdom CBI industrial order books balance April 0 1

The U.S. dollar traded higher against the most major currencies ahead of the U.S. preliminary services purchasing managers' index (PMI). The U.S. preliminary services PMI is expected to decline to 57.4 in April from 59.2 in March.

The euro traded lower against the U.S. dollar as the Greek debt crisis continues to weigh on the euro. Friday's Eurogroup meeting ended without any results as widely expected. Discussions between the Greek government and its creditors will continue at the next Eurogroup meeting on May 11.

The head of the Eurogroup Jeroen Dijsselbloem rejected the idea of a "Plan B" for Greece if the debt talks are not successful.

The idea was raised by ministers from Slovenia, Slovakia and Lithuania at the Eurogroup's meeting on Friday.

The Prime Minister Alexis Tsipras held phone calls with German Chancellor Angela Merkel and Dijsselbloem on Sunday to discuss speeding up the negotiations. According to the Greek government, Greece will resume talks with its creditors today.

German Finance Minister Wolfgang Schaeuble hinted on Saturday that Germany was preparing for a possible Greek default.

The British pound traded lower against the U.S. dollar after the CBI industrial order books balance data from the U.K. The CBI industrial order books balance rose to +1% in April from +0% in March.

The increase was driven by a higher output and new orders expectation.

In the first quarter of 2015, the balance of firms reporting a rise in order books was at 13%.

EUR/USD: the currency pair decreased to $1.0819

GBP/USD: the currency pair fell to $1.5106

USD/JPY: the currency pair rose to Y119.42

The most important news that are expected (GMT0):

13:45 U.S. Services PMI (Preliminary) April 59.2 57.37

22:40 Australia RBA's Governor Glenn Stevens Speech