Economic calendar (GMT0):

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

00:30 Australia RBA Bulletin

06:45 Switzerland SECO Economic Forecasts

07:00 Switzerland Trade Balance November 3.23 2.41 3.87

09:00 Eurozone EU Economic Summit

09:00 Germany IFO - Business Climate December 104.7 105.6 105.5

09:00 Germany IFO - Current Assessment December 110.0 110.3 110.0

09:00 Germany IFO - Expectations December 99.7 100.9 101.1

09:30 United Kingdom Retail Sales (MoM) November +0.8% +0.3% +1.6%

09:30 United Kingdom Retail Sales (YoY) November +4.3% +4.5% +6.4%

The U.S. dollar mixed against the most major currencies ahead of the U.S. economic data. The number of initial jobless claims in the U.S. is expected to increase by 3,000 to 297,000.

The Philadelphia Federal Reserve Bank' manufacturing index is expected to drop to 26.3 in December from 40.8 in November.

The greenback was supported by Fed's interest rate decision released yesterday. The Fed kept its interest rate unchanged and said it will be "patient" before to raise its interest rate.

The euro traded lower against the U.S. dollar after the weaker-than-expected Ifo figures from Germany. German Ifo business climate index rose to 105.5 in December from 104.7 in October, but missing expectations for a rise to 105.6.

The British pound rose against the U.S. dollar after the better-than-expected retail sales from the U.K. Retail sales in the U.K. increased 1.6% in November, exceeding expectations for a 0.3% rise, after a 1.0% gain in October. That the highest increase since December 2013. October's figure was revised up from a 0.8% increase.

On a yearly basis, retail sales in the U.K. climbed 6.4% in November, beating expectations for a 4.5% rise, after a 4.6% increase in October. That was the highest rise since May 2004. October's figure was revised up from a 4.3% rise.

The increase was driven by strong Black Friday sales.

The Swiss franc traded lower against the U.S. dollar. Switzerland's trade surplus widened CHF3.87 billion in November from CHF3.23 billion in October, beating expectations for a decline to CHF 2.41 billion.

The State Secretariat for Economic Affairs (SECO) released its forecasts for Switzerland today. Seco still expects the economic growth of 1.8% in 2014, but lowered its forecast for 2015 to 2.1% from 2.4% due to a slowdown of the economic growth in the Eurozone.

EUR/USD: the currency pair traded fell to $1.2277

GBP/USD: the currency pair climbed to $1.5665

USD/JPY: the currency pair increased to Y118.96

The most important news that are expected (GMT0):

13:30 U.S. Initial Jobless Claims December 294 297

15:00 U.S. Philadelphia Fed Manufacturing Survey December 40.8 26.3