The European Central Bank (ECB) purchased €12.04 billion of government and agency bonds under its quantitative-easing program last week.

The ECB said in its minutes of September meeting that it will raise the pace of its asset purchases from September to November 2015 "to prepare for the expected decline in market liquidity in December".

ECB'S asset buying programme is intended to run to September 2016.

The ECB bought €1.47 billion of covered bonds, and €1.07 billion of asset-backed securities.

The Italian newspaper CorrierEconomia reported on Monday that New York Fed President William Dudley said last Thursday that it is too early for an interest rate hike by the Fed as the global economic growth is weak.

"It's true we thought we could raise interest rates by the end of 2015, but turbulence on financial markets, modest global growth, energy prices and macro-prudential imbalances are slowing this process down," he said.

The National Association of Home Builders (NAHB) released its housing market index for the U.S. on Monday. The NAHB housing market index rose to 64 in October from 61 in September, exceeding expectations for an increase to 62. It was the highest level since 2005.

September's figure was revised down from 62.

A level above 50.0 is considered positive, below indicates a negative outlook.

The increase was driven by a rise in two of three components of the index. The buyer traffic subindex remained unchanged at 47 in October, the current sales conditions subindex rose to 70 from 67, while the subindex measuring sales expectations in the next six months climbed to 75 from 68.

"The fact that builder confidence has held in the 60s since June is proof that the single-family housing market is making lasting gains as more serious buyers come forward," the NAHB Chairman Tom Woods said.

"With firm job creation, economic growth and the release of pent-up demand, we expect housing to keep moving forward as we start to close out 2015," the NAHB Chief Economist David Crowe said.

USD/JPY 118.50 (USD 640m) 118.65-75 (560m) 120.00 (1.2bln)

EUR/USD 1.1300 (EUR 579m) 1.1400 (1bln) 1.1425 (543m) 1.1500 (1bln)

USD/CHF 0.9675 (USD 223m)

USD/CAD 1.2775 (USD 538m) 1.3000 (300m)

AUD/USD 0.7200 (AUD 437m) 0.7300 (301m) 0.7400 (683m)

NZD/USD 0.6850 (NZD 220m)

Bundesbank board member Joachim Nagel said on Monday that only a significant slowdown in the Chinese economy would a have a negative effect on the German economic growth, adding that such a slowdown "is not to be expected at present".

Nagel noted that the Chinese economy is undergoing a transformation.

Economic calendar (GMT0):

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

02:00 China Industrial Production y/y September 6.1% 6% 5.7%

02:00 China Retail Sales y/y September 10.8% 10.8% 10.9%

02:00 China Fixed Asset Investment August 10.9% 10.8% 10.3%

02:00 China GDP y/y Quarter III 7.0% 6.8% 6.9%

09:00 Eurozone Construction Output, y/y August -0.3% Revised From 1.8% -6.0%

10:00 Germany Bundesbank Monthly Report

The U.S. dollar traded higher against the most major currencies ahead of the release of the U.S. NAHB housing market index data. The NAHB housing market index is expected to remain unchanged at 62 in October.

The FOMC member Lacker will speak at 16:00 GMT.

The euro traded lower against the U.S. dollar on the weak economic data from the Eurozone. The Eurostat released its construction production data for the Eurozone on Monday. Construction production in the Eurozone decreased 0.2% in August, after a 0.4% rise in July.

Civil engineering output fell 0.3% in August, while production in the building sector was down 0.2%.

On a yearly basis, construction output dropped 6.0% in August, after a 0.3% decline in July. July's figure was revised down from a 1.8% gain.

Civil engineering output plunged 5.5% year-on-year in August, while production in the building sector slid 6.3% year-on-year.

The European Central Bank (ECB) Governing Council Member Ewald Nowotny said in an interview with the Polish newspaper Rzeczpospolita on Monday that additional measures, including structural reforms and fiscal policy changes, are needed to boost the economic growth in the Eurozone.

In an interview with Polish daily Puls Biznesu, Nowotny said on Monday that it is too early to talk about the adjustments of the central bank's asset-buying programme.

The British pound traded higher against the U.S. dollar in the absence of any major economic reports from the U.K.

EUR/USD: the currency pair fell to $1.1307

GBP/USD: the currency pair increased to $1.5494

USD/JPY: the currency pair rose to Y119.53

The most important news that are expected (GMT0):

14:00 U.S. NAHB Housing Market Index October 62 62

16:00 U.S. FOMC Member Laсker Speaks

EUR/USD

Offers 1.1375-80 1.1400 1.1425-30 1.1455-60 1.1485 1.1500

Bids 1.1330-35 1.1300 1.1285 1.1265 1.1250 1.1230 1.1200

GBP/USD

Offers 1.5460 1.5480 1.5500-10 1.5530 1.5550 1.5565 1.5585 1.5600

Bids 1.5425-30 1.5400 1.5380 1.5350 1.5330 1.5300 1.5285 1,5265 1.5250

EUR/GBP

Offers 0.7375-80 0.7400 0.7425-30 0.7450 0.7475-80 0.7500

Bids 0.7330-35 0.7300 0.7285 0.7265 0.7250 0.7230 0.7200

EUR/JPY

Offers 135.75-80 136.00 136.50136.75 137.00 137.25 137.50

Bids 135.25-30 135.00 134.80 134.50 134.30 134.00 133.75 133.50

USD/JPY

Offers 119.50 119.65 119.80-85 120.00 120.20 120.35 120.50

Bids 119.20 119.00 118.85 118.65-70 118.50 118.30 118.00 117.85 117.50

AUD/USD

Offers 0.7300 0.7325 0.7335 0.7350 0.7375 0.7400 0.7425 0.7450

Bids 0.7270 0.7250 0.7235 0.7220 0.7200 0.7185 0.7150

The European Central Bank (ECB) Governing Council Member Ewald Nowotny said in an interview with the Polish newspaper Rzeczpospolita on Monday that additional measures, including structural reforms and fiscal policy changes, are needed to boost the economic growth in the Eurozone.

In an interview with Polish daily Puls Biznesu, Nowotny said on Monday that it is too early to talk about the adjustments of the central bank's asset-buying programme.

"In my view, we should keep calm and show that we're in control of the situation," he said.

The Eurostat released its construction production data for the Eurozone on Monday. Construction production in the Eurozone decreased 0.2% in August, after a 0.4% rise in July.

Civil engineering output fell 0.3% in August, while production in the building sector was down 0.2%.

On a yearly basis, construction output dropped 6.0% in August, after a 0.3% decline in July. July's figure was revised down from a 1.8% gain.

Civil engineering output plunged 5.5% year-on-year in August, while production in the building sector slid 6.3% year-on-year.

USD/JPY 118.50 (USD 640m) 118.65-75 (560m) 120.00 (1.2bln)

EUR/USD 1.1300 (EUR 579m) 1.1400 (1bln) 1.1425 (543m) 1.1500 (1bln)

USD/CHF 0.9675 (USD 223m)

USD/CAD 1.2775 (USD 538m) 1.3000 (300m)

AUD/USD 0.7200 (AUD 437m) 0.7300 (301m) 0.7400 (683m)

NZD/USD 0.6850 (NZD 220m)

Bank of England's (BoE) Monetary Policy Committee Member Kristin Forbes said in a speech on Friday that the BoE will start raising its interest rates "sooner rather than later" despite high volatility in financial markets.

She pointed out the risks to the U.K. economy are manageable as the direct effect to the U.K. economy from the slowdown in emerging economies is limited.

Fobes concluded that the U.K. economy will continue to expand.

The Greek parliament approved a package of economic overhauls and austerity measures on Saturday morning. 154 to 140 members voted for new measures.

The next package of measures must be approved by the Greek parliament next month. The improvement will unlock €15bn-€25bn of bailout funds.

The National Bureau of Statistics said on Monday that China's economy expanded 6.9% in the third quarter, beating expectations for a 6.8% gain, after a 7.0% in the second quarter. It was the weakest growth since 2009.

The growth missed the official target of 7%.

The tertiary industry climbed by 8.4% in the third quarter, while secondary industry increased by 6%.

"In order to restructure, the economy will face some downward pressure," a spokesman for the National Bureau of Statistics, Sheng Laiyun, said, adding that "all this indicates the restructuring and upgrading of the Chinese economy are going steadily".

The National Bureau of Statistics said on Monday that China's industrial production increased 5.7% on year in September, missing expectations for a 6.0% rise, down from a 6.1% gain in August.

Fixed-asset investment in China climbed 10.3% year-on-year in the January-September period, after a 10.9% rise in the January-August period. Analysts had expected a 10.8% increase.

Retail sales in China increased 10.9% year-on-year in September, exceeding expectations for a 10.8% gain, after a 10.8% rise in August.

Economic calendar (GMT0):

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

02:00 China Industrial Production y/y September 6.1% 6% 5.7%

02:00 China Retail Sales y/y September 10.8% 10.8% 10.9%

02:00 China Fixed Asset Investment August 10.9% 10.8% 10.3%

02:00 China GDP y/y Quarter III 7.0% 6.8% 6.9%

The Australian dollar climbed on Chinese data. National Bureau of Statistics of China reported that the country's GDP rose by 6.9% y/y in the third quarter compared to expectations for a 6.8% rise. The bureau noted some downward pressure on China's economy, although the economy still functioned reasonably. Retail sales rose by 10.9% y/y in September compared to 10.8% reported previously.

The euro climbed against the U.S. dollar after a five-day decline, which was triggered by U.S. industrial production data and expectations for a rate hike. Data showed that the industrial production index fell by 0.2% in September. August reading was revised to -0.1% from -0.4%.

Diversion of monetary policies in the U.S., Japan and the euro zone support the greenback.

EUR/USD: the pair rose to $1.1380 in Asian trade

USD/JPY: the pair traded within Y119.15-60

GBP/USD: the pair traded within $1.5425-45

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

09:00 Eurozone Construction Output, y/y August 1.8%

10:00 Germany Bundesbank Monthly Report

14:00 U.S. NAHB Housing Market Index October 62 62

16:00 U.S. FOMC Member Laсker Speaks

EUR / USD

Resistance levels (open interest**, contracts)

$1.1500 (2294)

$1.1456 (1082)

$1.1427 (1049)

Price at time of writing this review: $1.1367

Support levels (open interest**, contracts):

$1.1286 (2038)

$1.1260 (2924)

$1.1230 (1900)

Comments:

- Overall open interest on the CALL options with the expiration date November, 6 is 36036 contracts, with the maximum number of contracts with strike price $1,1500 (3153);

- Overall open interest on the PUT options with the expiration date November, 6 is 46149 contracts, with the maximum number of contracts with strike price $1,1100 (4814);

- The ratio of PUT/CALL was 1.28 versus 1.27 from the previous trading day according to data from October, 16

GBP/USD

Resistance levels (open interest**, contracts)

$1.5703 (877)

$1.5605 (1080)

$1.5508 (1900)

Price at time of writing this review: $1.5442

Support levels (open interest**, contracts):

$1.5392 (568)

$1.5295 (2823)

$1.5197 (2525)

Comments:

- Overall open interest on the CALL options with the expiration date November, 6 is 19523 contracts, with the maximum number of contracts with strike price $1,5350 (2600);

- Overall open interest on the PUT options with the expiration date November, 6 is 20209 contracts, with the maximum number of contracts with strike price $1,5300 (2823);

- The ratio of PUT/CALL was 1.04 versus 0.99 from the previous trading day according to data from October, 16

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

(pare/closed(GMT +3)/change, %)

EUR/USD $1,1347 -0,27%

GBP/USD $1,5438 -0,19%

USD/CHF Chf0,9543 +0,35%

USD/JPY Y119,45 +0,49%

EUR/JPY Y135,57 +0,24%

GBP/JPY Y184,4 +0,29%

AUD/USD $0,7265 -0,94%

NZD/USD $0,6805 -0,85%

USD/CAD C$1,2908 +0,36%

(time / country / index / period / previous value / forecast)

02:00 China Industrial Production y/y September 6.1% 6%

02:00 China Retail Sales y/y September 10.8% 10.8%

02:00 China Fixed Asset Investment August 10.9% 10.8%

02:00 China GDP y/y Quarter III 7.0% 6.8%

09:00 Eurozone Construction Output, y/y August 1.8%

10:00 Germany Bundesbank Monthly Report

14:00 U.S. NAHB Housing Market Index October 62 62

16:00 U.S. FOMC Member Laсker Speaks