During the American session, the euro recovered from early losses against the dollar amid comments from the European Commission. The single currency got a boost to growth through the comments of European Commissioner V. Dombrovskis, who said that the last list of reforms proposed by Greece, "is now before" and that an agreement on Greece could be reached in the coming days. It appeared previously neutralized reports that EU leaders rejected the proposal by Greece last list of reforms.

At the beginning of the session supported the US currency had data on the US labor market. The number of jobs in the US in April reached the highest level for the time of statistics, which is a sign of improvement in the labor market. This was said on Tuesday the Ministry of Labour. The number of vacancies in April totaled 5.4 million compared to 5.1 million in March. The April figure is the highest since 2000, when the Labor Department began keeping records of the number of vacancies. The number of employed workers in April amounted to 5 million, slightly less than in March. The share of employees to resign in April fell slightly, but remained at 1.9%.

In addition, the report published by the Department of Commerce, showed that wholesale inventories in the US rose at the end of April, exceeding the predicted value and accelerate the pace of the previous month. According to the data inventories in the warehouses of wholesale trade rose in April by 0.4 percent (to 576.9 billion.) Against growth of 0.2 per cent in March (revised from +0.1 per cent). Economists had expected wholesale inventories to increase by 0.2 percent. In annual terms, the stock rose 4.5 percent.

Little impact on the euro also had data on GDP. Statistical Office, Eurostat reported: Eurozone GDP rose slightly in the 1st quarter, confirming previous estimates, as the increase in public spending and investment was partially offset by an increase in imports. According to the report, the combined gross domestic product of the 19 countries of the eurozone increased by 0.4% compared with the last three months of 2014. In annual terms, the economy expanded by 1.0%. Quarterly and annual change coincided with the preliminary estimates published last month. Indicators for the first quarter suggest that the economy is weakening slightly benefited from the euro, which was one of the effects of different incentive measures launched by the ECB in June 2014. While export growth slowed to 0.6% from 0.8%, the increase in imports accelerated to 1.2% from 0.8%. As a result, trade reduced GDP growth by 0.2 percentage points. This slowdown was partly offset by the growth in government spending, which rose by 0.6% during the 1 st quarter, against 0.1% in the previous period. Economic growth was also caused by an increase in investment spending and consumer spending.

The pound retreated from session low against the dollar, while rising above $ 1.5300, which helped the trade balance in Britain. The Office for National Statistics reported: total trade deficit narrowed to 1.202 billion. Pounds in April from the revised March index at the level of 3.093 billion. Pounds (originally reported 2.817 billion. Lbs). The latter value was the lowest since March 2014. We also learned that there was a balance of trade in goods deficit 8.561 billion. Against 10.705 billion pounds. Pounds in March (revised from 10.1 billion. Lbs). The April reading was the lowest since March last year. It was expected that the deficit will be 10 billion. Exports rose by 0.7 bln. Pounds, while imports declined 1.5 bn. Pounds compared with March. Within three months (April), exports remained unchanged after rising 0.3 percent in the first quarter, while imports grew by 2.1 per cent, as in the first three months of the year. The deficit in trade in goods with EU countries fell to 6.5 billion pounds from 7.3 billion. Pounds, while trade with countries outside the EU dropped to 2.1 billion. 3.4 billion pounds. Pounds. Also, the data showed that the surplus in the trade in services amounted to 7.4 billion pounds. compared to 7.6 billion. lb in March.

The Swiss franc fell against the US dollar, a foothold above the level of CHF0.9300, despite the publication of positive statistics in Switzerland. The State Secretariat for Economic Affairs said today that the results of last month the unemployment rate in Switzerland remained unchanged. According to the data, the seasonally adjusted unemployment rate was 3.3 per cent, thus confirming the expectations of economists. Without seasonal adjustment unemployment rate fell to 3.2 percent in May from 3.3 percent a month earlier. It was predicted that the unemployment rate will remain unchanged.

It was also reported that the number of unemployed fell in May to 4782 people, compared to the previous month - to the level of 136 349 people. In annual terms, the number of unemployed increased by 6,039 or 4.6 percent. The youth unemployment rate fell to 2.9 percent in May from 3.1 percent in April.

Meanwhile, another report from the Federal Statistical Office showed that in May, consumer prices fell by 1.2 percent year on year, which was slightly faster than the 1.1 percent drop in the previous month. Last change coincided with forecasts of experts. It should be emphasized, it was is the seventh consecutive fall in the consumer price and the longest series since July 2009. On a monthly basis, consumer prices rose by 0.2 percent, offsetting a drop of 0.2 percent in April. Economists had forecast an increase of 0.1 percent.

Polish equity market continued to slide on Tuesday. The broad market measure, the WIG Index, dropped 0.72%. Only two sectors in the WIG Index rose and nine fell. Information technology stocks fared best, up 2.87%, while telecommunications names fell the most, down 2.82%.

In the large-cap stock universe, most of the names posted losses, pushing the group measure, the WIG30 Index, down 0.78%. BOGDANKA (WSE: LWB) and LOTOS (WSE: LTS) recorded the biggest declines, slumping 4.67% and 3.67% respectively. They were followed by ORANGE POLSKA (WSE: OPL) and PGE (WSE: PGE), falling nearly 3% each. On the contrary, BZ WBK (WSE: BZW) performed best, advancing 1.13%. MBANK (WSE: MBK) did well too, posting a 0.91% return.

Stock indices closed lower as the uncertainty over the Greek debt talks still weighed on markets. The Greek government has provided a new budget proposal to its creditors on Tuesday. Greece hopes to reach a new agreement with its creditors to unlock €7.2 billion new loans.

Greece is running out of cash. It bundled its IMF loans repayments in June. The deadline is June 30. Athens have to repay €1.6 billion IMF loans in June.

German Finance Minister Wolfgang Schaeuble said in Berlin on Tuesday that Greece's creditors were doing everything to keep Greece in the Eurozone. He added that it is now on Greece to deliver reforms.

German Chancellor Angela Merkel said on Monday that time was running out for an agreement to be reached.

The European Central Bank (ECB) Governing Council Member Christian Noyer said on Monday that if Greece had to leave the Eurozone, it would not cause a problem for the Eurozone.

Reuters reported on Monday that Greece's creditors have suggested extending the Greek bailout programme until the end of March 2016, but disagreements over the conditions are risks to this plan.

Meanwhile, the economic data from Eurozone was positive. Eurozone's final gross domestic product (GDP) rose 0.4% in first quarter, after a 0.3% gain in the fourth quarter.

On a yearly basis, Eurozone's final gross domestic product (GDP) increased 1.0% in first quarter, after a 0.9% rise in the fourth quarter.

Household spending gained 0.5% in the first quarter, while government expenditure was up 0.6%.

Exports declined to 0.6% in the first quarter, while imports rose to 1.2%.

The U.K. Office for National Statistics (ONS) released trade data for the U.K. on Tuesday. The U.K. trade deficit in goods narrowed to £8.56 billion in April from £10.7 billion in March. March's figure was revised down from a deficit of £10.12 billion.

The decline in the trade deficit was driven by a drop in imports. Imports dropped by 4.8% in April, while exports of goods rose 2.8%.

Sales to non-European Union countries jumped 4.7% in April.

Exports to the European Union countries increased 0.5% in April, while imports plunged 4.1%.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,753.8 -36.24 -0.53 %

DAX 11,001.29 -63.63 -0.58 %

CAC 40 4,850.22 -7.44 -0.15 %

Oil prices traded higher ahead of U.S. oil inventories data. The American Petroleum Institute (API) is scheduled to release its U.S. oil inventories data today, and U.S. oil inventories data from the U.S. Energy Information Administration is expected on Wednesday.

The oil driller Baker Hughes reported on Friday that the number of active U.S. rigs declined by 4 rigs to 642 last week, the lowest weekly level since August 2010. It was the 26th consecutive weekly fall.

The weaker-than-expected inflation data from China added to speculation on that the Chinese government will add further stimulus measures to boost the economy. The Chinese consumer price index (CPI) rose at annual rate of 1.2% in May, missing expectations for a 1.3% increase, after a 1.5% gain in April.

The Chinese producer price index (PPI) dropped 4.6% in May, missing forecasts of a 4.5% fall, after a 4.6% decline in April.

China is the largest net oil importer in the world.

WTI crude oil for July delivery increased to $60.23 a barrel on the New York Mercantile Exchange.

Brent crude oil for July rose to $64.23 a barrel on ICE Futures Europe.

Major U.S. stock-indexes are little changed on Tuesday, following three straight sessions of losses, on growing speculation that the Federal Reserve could raise interest rates as soon as September. Concerns about a rate hike pushed the blue-chip Dow index slipped into negative territory for 2015 on Monday, while the S&P 500 and Nasdaq touched their lowest levels in over a month. Data on Monday showed U.S. small business confidence rose to a five-month high in May, with owners expecting a solid improvement in profits, which bodes well for the economy's prospects in the months ahead.

Most of Dow stocks in positive area (20 of 30). Top looser - Apple Inc. (AAPL, -1.20%). Top gainer - Caterpillar Inc. (CAT, +1.08%).

S&P index sectors mixed. Top gainer - Basic materials (+0,4%). Top looser - Conglomerates (-0.5%).

At the moment:

Dow 17766.00 -2.00 -0.01%

S&P 500 2078.75 +0.50 +0.02%

Nasdaq 100 4417.00 -15.25 -0.34%

10-year yield 2.44% +0.05

Oil 59.90 +1.76 +3.03%

Gold 1176.10 +2.50 +0.21%

Gold price traded higher on the uncertainty over the Greek debt talks and speculation on that the Fed may start to hike its interest rate this year. The Greek government has provided a new budget proposal to its creditors on Tuesday. Greece hopes to reach a new agreement with its creditors to unlock €7.2 billion new loans.

Greece is running out of cash. It bundled its IMF loans repayments in June. The deadline is June 30. Athens have to repay €1.6 billion IMF loans in June.

German Finance Minister Wolfgang Schaeuble said in Berlin on Tuesday that Greece's creditors were doing everything to keep Greece in the Eurozone. He added that it is now on Greece to deliver reforms.

German Chancellor Angela Merkel said on Monday that time was running out for an agreement to be reached.

The European Central Bank (ECB) Governing Council Member Christian Noyer said on Monday that if Greece had to leave the Eurozone, it would not cause a problem for the Eurozone.

Reuters reported on Monday that Greece's creditors have suggested extending the Greek bailout programme until the end of March 2016, but disagreements over the conditions are risks to this plan.

Gains were limited due to speculation on that the Fed may start to hike its interest rate in September.

June futures for gold on the COMEX today rose to 1181.60 dollars per ounce.

German Finance Minister Wolfgang Schaeuble said in Berlin on Tuesday that Greece's creditors were doing everything to keep Greece in the Eurozone. He added that it is now on Greece to deliver reforms.

"In the last four or five years we have done everything in our power to keep Greece in the euro zone but this is a two-way street," Schaeuble said.

Schaeuble denied reports that there was a rift between German Chancellor Angela Merkel and himself on Greek debt talks.

The U.S. Commerce Department released wholesale inventories on Tuesday. Wholesale inventories in the U.S. rose 0.4% in April, beating expectations for a 0.2% gain, after a 0.2% increase in March. March's figure was revised up from a 0.1% rise.

Inventories of durable goods increased 0.1% in April, while inventories of non-durable goods gained 0.8%.

Wholesale sales climbed by 1.6% in April, after a 0.3% decline in March.

The U.S. Bureau of Labor Statistics released its Job Openings and Labor Turnover Survey (JOLTS) report on Tuesday. Job openings climbed to 5.376 million in April from 5.109 million in March. It was the highest reading since December 2000.

March's figure was revised up from 4.994 million.

The number of job openings increased for total private (4.887 million) and for government (489,000) in April.

The hires rate was 3.5% in April.

Total separations fell to 4.881 million in April from 5.065 million in March.

The JOLTS report is one of the Federal Reserve Chair Janet Yellen's favourite labour market indicators.

EUR/USD: $1.0995-1.1000(E904mn), $1.1100(E1.2bn), $1.1200(E2.3bn)

USD/JPY: Y124.00($900mn), Y125.00($1.16bn), Y125.25($1.1bn), Y125.35($330mn), Y126.75($540mn)

GBP/USD: $1.4900(Gbp1.2bn), $1.5150(Gbp275mn), $1.5415(Gbp1.0bn)

USD/CHF: Chf0.9475($650mn)

AUD/USD: $0.7500(A$400mn), $0.7700-05(A$280mn)

USD/CAD: C$1.2550-55($700mn), C$1.2575($525mn)

The Greek government has provided a new budget proposal to its creditors on Tuesday. Greece hopes to reach a new agreement with its creditors to unlock €7.2 billion new loans.

Greece is running out of cash. It bundled its IMF loans repayments in June. The deadline is June 30. Athens have to repay €1.6 billion IMF loans in June.

U.S. stock-index futures declined, indicating equities will fall for a fourth day.

Global markets:

Nikkei 20,096.3 -360.89 -1.8%

Hang Seng 26,989.52 -326.76 -1.2%

Shanghai Composite 5,113.53 -18.35 -0.4%

FTSE 6,769.71 -20.33 -0.3%

CAC 4,846.01 -11.65 -0.2%

DAX 10,973.94 -90.98 -0.8%

Crude oil $59.35 (+2.06%)

Gold $1178.20 (+0.40%)

(company / ticker / price / change, % / volume)

The European Central Bank (ECB) Governing Council Member Christian Noyer said on Monday that if Greece had to leave the Eurozone, it would not cause a problem for the Eurozone.

"The problem of Greece is a problem for Greece itself," he added.

The ECB governing council member noted that Greece has only a few days to reach an agreement with its creditors.

Noyer pointed out that the exchange rate between the U.S. dollar and the euro can be explained as the difference in conditions in the U.S. and Europe.

Upgrades:

Downgrades:

Other:

Microsoft (MSFT) initiated with a Hold at Wunderlich, target $52

Wal-Mart (WMT) initiated with a Neutral at Macquarie, target $76

The Hellenic Statistical Authority released its preliminary industrial production data for Greece on Tuesday. Greek industrial production declined 3.2% in April, after a 3.1% rise in March. On a seasonally adjusted basis, industrial production dropped 2.0%.

On a yearly basis, industrial production in Greece climbed at an adjusted rate of 0.4% in April, after a 5.3% gain in March. It was the third consecutive monthly rise.

Production in the manufacturing sector jumped at an annual rate of 3.5% in April, output in the mining and quarrying sector fell 2.6%, while electricity production plunged by 11.4%.

Economic calendar (GMT0):

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

01:30 Australia ANZ Job Advertisements (MoM) May 2.3% 0.0%

01:30 Australia National Australia Bank's Business Confidence May 3 7

01:30 Australia Home Loans April 1.5% Revised From 1.6% -2% 1.0%

01:30 China PPI y/y May -4.6% -4.5% -4.6%

01:30 China CPI y/y May 1.5% 1.3% 1.2%

05:00 Japan Consumer Confidence May 41.5 41.9 41.4

05:45 Switzerland Unemployment Rate (non s.a.) May 3.3% 3.3% 3.2%

06:00 Japan Prelim Machine Tool Orders, y/y May 10.5% Revised From 10.4% 15.0%

07:15 Switzerland Consumer Price Index (YoY) May -1.1% -1.2% -1.2%

07:15 Switzerland Consumer Price Index (MoM) May -0.2% 0.1% 0.2%

08:30 United Kingdom Total Trade Balance April -3.093 Revised From -2.817 -1.202

09:00 Eurozone GDP (YoY) (Finally) Quarter I 0.9% 1.0%

09:00 Eurozone GDP (QoQ) (Finally) Quarter I 0.3% 0.4%

The U.S. dollar traded mixed against the most major currencies ahead of the U.S. economic data. Wholesale inventories in the U.S. are expected to rise 0.2% in April, after a 0.1% gain in March.

U.S. President Barack Obama denied a report that he was saying the strong U.S. dollar was "a problem'' at the Group of Seven (G7) summit in Germany.

The greenback remained supported by Friday's U.S. labour market data. The U.S. economy added 280,000 jobs in May, exceeding expectations for a rise of 2225,000 jobs, after a gain of 221,000 jobs in April. It was the largest increase since December.

The U.S. unemployment rate rose to 5.5% in May from 5.4% in April. Analysts had expected the unemployment rate to remain unchanged at 5.4%.

The euro traded lower against the U.S. dollar on the uncertainty over the Greek debt talks. German Chancellor Angela Merkel said on Monday that time was running out for an agreement to be reached.

The European Central Bank (ECB) Governing Council Member Christian Noyer said on Monday that if Greece had to leave the Eurozone, it would not cause a problem for the Eurozone.

Reuters reported on Monday that Greece's creditors have suggested extending the Greek bailout programme until the end of March 2016, but disagreements over the conditions are risks to this plan.

Eurozone's final gross domestic product (GDP) rose 0.4% in first quarter, after a 0.3% gain in the fourth quarter.

On a yearly basis, Eurozone's final gross domestic product (GDP) increased 1.0% in first quarter, after a 0.9% rise in the fourth quarter.

Household spending gained 0.5% in the first quarter, while government expenditure was up 0.6%.

Exports declined to 0.6% in the first quarter, while imports rose to 1.2%.

The British pound traded lower against the U.S. dollar after the trade data from the U.K. The U.K. trade deficit in goods narrowed to £8.56 billion in April from £10.7 billion in March. March's figure was revised down from a deficit of £10.12 billion.

The decline in the trade deficit was driven by a drop in imports. Imports dropped by 4.8% in April, while exports of goods rose 2.8%.

Sales to non-European Union countries jumped 4.7% in April.

Exports to the European Union countries increased 0.5% in April, while imports plunged 4.1%.

The total trade deficit, including services, narrowed to £1.202 billion in April from £3.093 billion in March. It was the lowest total trade deficit since March 2014.

March's figure was revised down from a deficit of £2.817 billion.

The Swiss franc traded lower against the U.S. dollar despite the better-than-expected Swiss economic data. The Swiss unemployment rate remained unchanged at a seasonally adjusted 3.3% in May. On a seasonally unadjusted basis, the unemployment rate in Switzerland declined to 3.2 percent in May from 3.3% in April. Analysts had expected the unemployment rate to remain unchanged at 3.3%.

Switzerland's consumer price index rose 0.2% in May, exceeding expectations for a 0.1% increase, after a 0.2% drop in April.

On a yearly basis, Switzerland's consumer price index declined to -1.2% in May from -1.1% in April, in line with expectations. It was the seventh consecutive decline.

Food and beverages prices dropped at an annual rate of 1.2% in May, alcoholic beverages prices were up 0.1%, and clothing and footwear prices fell 0.6%, while housing and energy prices declined 0.3%.

EUR/USD: the currency pair decreased to $1.1234

GBP/USD: the currency pair declined to $1.5271

USD/JPY: the currency pair fell to Y123.85

The most important news that are expected (GMT0):

14:00 U.S. Wholesale Inventories April 0.1% 0.2%

14:00 U.S. JOLTs Job Openings April 4.994

23:50 Japan Core Machinery Orders April 2.9% -2.0%

23:50 Japan Core Machinery Orders, y/y April 2.6% -1.3%

The Chinese National Bureau of Statistics released its consumer and producer price inflation data for China on Tuesday. The Chinese consumer price index (CPI) rose at annual rate of 1.2% in May, missing expectations for a 1.3% increase, after a 1.5% gain in April.

Food prices rose at an annual rate of 1.6% in May, while non-food prices increased 1.0%. On a monthly basis, consumer price inflation fell 0.2% in May.

The Chinese producer price index (PPI) dropped 4.6% in May, missing forecasts of a 4.5% fall, after a 4.6% decline in April.

On a monthly basis, producer price inflation decreased 0.1% in May.

EUR/USD

Offers 1.1350 1.1380 1.1400

Bids 1.1220 1.1100 1.1080 1.1050 1.1035 1.1020 1.1000

GBP/USD

Offers 1.5310 1.5335 1.5350 1.5370 1.5385 1.5400 1.5420 1.5450

Bids 1.5280-85 1.5265 1.5240 1.5225 1.5200 1.5185 1.5165 1.5150

EUR/GBP

Offers 0.7385 0.7400 0.7425-30 0.7450 0.7475 0.7500

Bids 0.7360 0.7345 0.7320 0.7300 0.7285 0.7265 0.7250

EUR/JPY

Offers 140.85 141.00 141.30 141.50

Bids 140.00 139.80 139.50 139.30 139.00

USD/JPY

Offers 124.75-80 125.00 125.20 125.40 125.60 125.75- 80 126.00

Bids 124.20 124.00 123.80 123.50 123.30 123.00

AUD/USD

Offers 0.7680 0.7700 0.7720 0.7745 0.7775 0.7800

Bids 0.7625-30 0.7600 0.7585 0.7550 0.7530 0.7500

Stock indices traded lower on the uncertainty over the Greek debt talks. German Chancellor Angela Merkel said on Monday that time was running out for an agreement to be reached.

The European Central Bank (ECB) Governing Council Member Christian Noyer said on Monday that if Greece had to leave the Eurozone, it would not cause a problem for the Eurozone.

Reuters reported on Monday that Greece's creditors have suggested extending the Greek bailout programme until the end of March 2016, but disagreements over the conditions are risks to this plan.

Meanwhile, the economic data from Eurozone was positive. Eurozone's final gross domestic product (GDP) rose 0.4% in first quarter, after a 0.3% gain in the fourth quarter.

On a yearly basis, Eurozone's final gross domestic product (GDP) increased 1.0% in first quarter, after a 0.9% rise in the fourth quarter.

Household spending gained 0.5% in the first quarter, while government expenditure was up 0.6%.

Exports declined to 0.6% in the first quarter, while imports rose to 1.2%.

The U.K. Office for National Statistics (ONS) released trade data for the U.K. on Tuesday. The U.K. trade deficit in goods narrowed to £8.56 billion in April from £10.7 billion in March. March's figure was revised down from a deficit of £10.12 billion.

The decline in the trade deficit was driven by a drop in imports. Imports dropped by 4.8% in April, while exports of goods rose 2.8%.

Sales to non-European Union countries jumped 4.7% in April.

Exports to the European Union countries increased 0.5% in April, while imports plunged 4.1%.

Current figures:

Name Price Change Change %

FTSE 100 6,755.46 -34.58 -0.51 %

DAX 10,906.5 -158.42 -1.43 %

CAC 40 4,806.36 -51.30 -1.06 %

Eurozone's final gross domestic product (GDP) rose 0.4% in first quarter, after a 0.3% gain in the fourth quarter.

On a yearly basis, Eurozone's final gross domestic product (GDP) increased 1.0% in first quarter, after a 0.9% rise in the fourth quarter.

Household spending gained 0.5% in the first quarter, while government expenditure was up 0.6%.

Exports declined to 0.6% in the first quarter, while imports rose to 1.2%.

The U.K. Office for National Statistics (ONS) released trade data for the U.K. on Tuesday. The U.K. trade deficit in goods narrowed to £8.56 billion in April from £10.7 billion in March.

March's figure was revised down from a deficit of £10.12 billion.

The decline in the trade deficit was driven by a drop in imports. Imports dropped by 4.8% in April, while exports of goods rose 2.8%.

Sales to non-European Union countries jumped 4.7% in April.

Exports to the European Union countries increased 0.5% in April, while imports plunged 4.1%.

The total trade deficit, including services, narrowed to £1.202 billion in April from £3.093 billion in March. It was the lowest total trade deficit since March 2014.

March's figure was revised down from a deficit of £2.817 billion.

The Swiss State Secretariat for Economic Affairs released its unemployment data for Switzerland on Tuesday. The Swiss unemployment rate remained unchanged at a seasonally adjusted 3.3% in May. On a seasonally unadjusted basis, the unemployment rate in Switzerland declined to 3.2 percent in May from 3.3% in April. Analysts had expected the unemployment rate to remain unchanged at 3.3%.

The number of unemployed people in Switzerland decreased by 4,782 in May, after a 6,039 rise in April.

The youth unemployment rate was down to 2.9% in May from 3.1% in April.

EUR/USD: $1.0995-1.1000(E904mn), $1.1100(E1.2bn), $1.1200(E2.3bn)

USD/JPY: Y124.00($900mn), Y125.00($1.16bn), Y125.25($1.1bn), Y125.35($330mn), Y126.75($540mn)

GBP/USD: $1.4900(Gbp1.2bn), $1.5150(Gbp275mn), $1.5415(Gbp1.0bn)

USD/CHF: Chf0.9475($650mn)

AUD/USD: $0.7500(A$400mn), $0.7700-05(A$280mn)

USD/CAD: C$1.2550-55($700mn), C$1.2575($525mn)

The Swiss Federal Statistics Office released its consumer inflation data on Tuesday. Switzerland's consumer price index rose 0.2% in May, exceeding expectations for a 0.1% increase, after a 0.2% drop in April.

On a yearly basis, Switzerland's consumer price index declined to -1.2% in May from -1.1% in April, in line with expectations. It was the seventh consecutive decline.

Food and beverages prices dropped at an annual rate of 1.2% in May, alcoholic beverages prices were up 0.1%, and clothing and footwear prices fell 0.6%, while housing and energy prices declined 0.3%.

The President of the Supervisory Council at the European Central Bank (ECB), Danièle Nouy, said on Monday that the central bank's Supervisory Board plans to carry out stress tests of Eurozone's big banks next year.

"There will be a public and general stress test next year. It could only concern a part of the 123 banks that we supervise directly," Nouy noted.

The International Monetary Fund's (IMF) deputy managing director, Mitsuhiro Furusawa, said on Monday that the Federal Reserve could reduce the risk of disorderly capital outflows. He warned about the risk of disorderly capital outflows once the Fed started hiking interest rates.

Furusawa pointed out that emerging countries should implement structural reforms to promote strong, sustainable and balanced growth. The IMF deputy managing director added that IMF expects merging market economies to rebound next year.

The European Central Bank (ECB) Executive Board Member Yves Mersch said in Frankfurt on Monday that the recent increase in government bond yields in Europe reflects desirable outcomes such as an increase in inflation expectations and increased optimism about economic growth.

"Rising rates either mean that inflation expectations rise or that growth expectations rise. We like both," Mersch noted.

The ECB executive board member added that the central bank cannot set prices in financial markets.

"When markets have gotten on the wrong track we're not in charge of stopping them. When the markets correct, it's a correction. In that case you can't tell the central bank that it should have prevented it," Mersch said.

The European Central Bank (ECB) Governing Council Member Ewald Nowotny said on Monday that the central bank's asset buying programme was working and it will continue until September 2016.

"The economic downturn is over, the risk of deflation has been overcome, and the emergency measures of the ECB appear successful," Nowotny noted.

He also said that lower oil prices were also supporting the economy in the Eurozone.

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

01:30 Australia ANZ Job Advertisements (MoM) May 2.3% 0.0%

01:30 Australia National Australia Bank's Business Confidence May 3 7

01:30 Australia Home Loans April 1.6% -2% 1.0%

01:30 China PPI y/y May -4.6% -4.5% -4.6%

01:30 China CPI y/y May 1.5% 1.3% 1.2%

China's factory-gate prices extended a record stretch of declines, underscoring tepid demand at home and abroad. In the U.S., traders continue to mull the timeline for higher interest rates, while Group of Seven leaders meet in Germany, with Chancellor Angela Merkel demanding urgent action from Greece to cement its euro-area membership.

China's consumer-price index increased 1.2 percent last month from a year earlier, less than the 1.3 percent median estimate in a Bloomberg survey. The producer-price index fell 4.6 percent, extending more than three years of declines.

EUR / USD: during the Asian session the pair rose to $ 1.1335

GBP / USD: during the Asian session the pair rose to $ 1.5365

USD / JPY: during the Asian session, the pair was trading around Y124.50

UK trade data at 0830GMT provides the domestic interest this morning, though more focus seen on Wednesday's UK IP/Mfg data.

EUR / USD

Resistance levels (open interest**, contracts)

$1.1461 (2636)

$1.1416 (2545)

$1.1381 (1932)

Price at time of writing this review: $1.1337

Support levels (open interest**, contracts):

$1.1235 (364)

$1.1209 (137)

$1.1175 (538)

Comments:

- Overall open interest on the CALL options with the expiration date July, 2 is 43553 contracts, with the maximum number of contracts with strike price $1,1450 (3422);

- Overall open interest on the PUT options with the expiration date July, 2 is 69630 contracts, with the maximum number of contracts with strike price $1,0500 (7743);

- The ratio of PUT/CALL was 1.60 versus 1.56 from the previous trading day according to data from June, 8

GBP/USD

Resistance levels (open interest**, contracts)

$1.5604 (783)

$1.5507 (1767)

$1.5410 (1707)

Price at time of writing this review: $1.5368

Support levels (open interest**, contracts):

$1.5287 (1640)

$1.5191 (661)

$1.5094 (1675)

Comments:

- Overall open interest on the CALL options with the expiration date July, 2 is 17347 contracts, with the maximum number of contracts with strike price $1,5500 (1767);

- Overall open interest on the PUT options with the expiration date July, 2 is 19370 contracts, with the maximum number of contracts with strike price $1,5100 (1675);

- The ratio of PUT/CALL was 1.12 versus 1.23 from the previous trading day according to data from June, 8

* - 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.

(raw materials / closing price /% change)

Oil 58.14 -1.67%

Gold 1,173.20 -0.03%

(index / closing price / change items /% change)

Nikkei 225 20,457.19 -3.71 -0.02%

Hang Seng 27,316.28 +56.12 +0.21%

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CAC 40 4,857.66 -63.08 -1.28%

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

EUR/USD $1,1279 +1,47%

GBP/USD $1,5341 +0,46%

USD/CHF Chf0,9275 -1,28%

USD/JPY Y124,57 -0,83%

EUR/JPY Y140,52 +0,66%

GBP/JPY Y191,11 -0,37%

AUD/USD $0,7692 +0,88%

NZD/USD $0,7130 +1,21%

USD/CAD C$1,2407 -0,26%