Economic calendar (GMT0):

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

01:30 Australia Trade Balance June -2.04 -2.00 -1.68

01:45 China HSBC Services PMI July 53.1 50

04:30 Australia Announcement of the RBA decision on the discount rate 2.50% 2.50% 2.50%

04:30 Australia RBA Rate Statement

07:48 France Services PMI (Finally) July 48.2 50.4 50.4

07:53 Germany Services PMI (Finally) July 54.5 56.6 56.7

07:58 Eurozone Services PMI (Finally) July 52.8 54.4 54.2

08:30 United Kingdom Purchasing Manager Index Services July 57.7 58.1 59.1

09:00 Eurozone Retail Sales (MoM) June +0.3% Revised From 0.0% +0.4% +0.4%

09:00 Eurozone Retail Sales (YoY) June +0.6% Revised From +0.7% +1.2% +2.4%

The U.S. dollar traded higher against the most major currencies ahead of the ISM service sector activity in the U.S. and factory orders in the U.S. The ISM non-manufacturing PMI is expected to rise to 56.6 in July from 56.0 in June.

Factory orders in the U.S. are expected to climb 0.6% in June, after a 0.5% fall in May.

The euro declined against the U.S. dollar after mixed economic data from the Eurozone. Retail sales in the Eurozone climbed 0.4% in June, in line with expectations, after a 0.3% rise in May. May's figure was revised up from 0.0%.

On a yearly basis, retail sales in the Eurozone jumped 2.4% in June, beating expectations for a 1.2% gain, after a 0.6% increase in May. May's figure was revised down from a 0.7% rise.

Eurozone's services purchasing managers' index rose to 54.2 in July from 52.8 in June, missing expectations for an increase to 54.4.

Germany's services purchasing managers' index increased to 56.7 in July from 54.5 in June, exceeding expectations for a rise to 56.6.

France's services purchasing managers' index climbed to 50.4 in July from 48.2 in June, in line with expectations.

The British pound increased against the U.S. dollar after the better-than-expected services purchasing managers' index in the UK, but later lost its gains. Services purchasing managers' index in the UK increased to 59.1 in July from 57.7 in June, beating expectations for a rise to 58.1.

EUR/USD: the currency pair declined to $1.3381

GBP/USD: the currency pair fell to $1.6855

USD/JPY: the currency pair increased to Y102.72

The most important news that are expected (GMT0):

14:00 U.S. ISM Non-Manufacturing July 56.0 56.6

14:00 U.S. Factory Orders June -0.5% +0.6%

22:45 New Zealand Unemployment Rate Quarter II 6.0% 5.8%

22:45 New Zealand Employment Change, q/q Quarter II +0.9% +0.7%