Economic calendar (GMT0):

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

01:30 Australia Current Account, bln Quarter I -10.2 Revised From -9.6 -10.8 -10.7

03:00 Japan Labor Cash Earnings, YoY April 0.1%

04:30 Australia Announcement of the RBA decision on the discount rate 2.0% 2.0% 2.0%

04:30 Australia RBA Rate Statement

07:55 Germany Unemployment Change May -9 Revised From -8 -10 -6

07:55 Germany Unemployment Rate s.a. May 6.4% 6.4% 6.4%

08:30 United Kingdom PMI Construction May 54.2 55.0 55.9

08:30 United Kingdom Consumer credit, bln April 1294 Revised From 1242 1000 1173

08:30 United Kingdom Net Lending to Individuals, bln April 3.3 Revised From 3.1 2.9

08:30 United Kingdom Mortgage Approvals April 61.94 Revised From 61.34 63 68.08

09:00 Eurozone Producer Price Index, MoM April 0.2% 0.1% -0.1%

09:00 Eurozone Producer Price Index (YoY) April -2.3% -2.0% -2.2%

09:00 Eurozone Harmonized CPI, Y/Y (Preliminary) May 0.0% 0.2% 0.3%

09:00 Eurozone Harmonized CPI ex EFAT, Y/Y (Preliminary) May 0.6% 0.1% 0.9%

The U.S. dollar traded mixed to lower against the most major currencies ahead of U.S. factory orders data. Factory orders in the U.S. are expected to be flat in April, after a 2.1% gain in March.

The euro rose against the U.S. dollar after the better-than-expected consumer price inflation data from the Eurozone. The preliminary consumer price inflation in the Eurozone rose to an annual rate of 0.3% in May from 0.0% in April, exceeding expectations for a 0.2% gain. It was the first positive reading since November 2014.

The preliminary consumer price inflation excluding food, energy, alcohol, and tobacco increased to an annual rate of 0.9% in May from 0.6% in April, beating expectations for a decline to 0.1%.

The number of unemployed people in Germany declined by 6,000 in May, missing expectations for a 10,000 decline, after a 9,000 drop in April. April's figure was revised up from a 8,000 fall.

The number of unemployed people in Germany was 2.786 million in May, the lowest level since December 1991.

Germany's adjusted unemployment rate remained unchanged at 6.4% in May, in line with expectations.

The Greek debt crisis continue to weigh on the euro. In total, Athens has to repay almost €1.6 billion in June, starting with repayment of €300 million on Friday.

The European Union's economics chief said on Tuesday that the Greek government has put forward first proposals for pension reform.

The news agency Dow Jones reported yesterday that Greece's creditors are preparing the final proposal. Negotiations on this issue were held between Angela Merkel, Francois Hollande, Christine Lagarde and Mario Draghi late Monday. Details of the talks were not disclosed.

The British pound traded higher against the U.S. dollar after the better-than-expected construction PMI from the U.K. Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. increased to 55.9 in May from 54.2 in April, exceeding expectations for a rise to 55.0.

The increase was driven by a rise in new orders, which grew for the first time in three months.

EUR/USD: the currency pair rose to $1.1038

GBP/USD: the currency pair increased to $1.5268

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

14:00 U.S. Factory Orders April 2.1% 0.0%

14:00 U.S. FOMC Member Brainard Speaks