Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
04:30 Japan All Industry Activity Index, m/m June -0.5% 0.3%
08:00 Eurozone Current account, unadjusted, bln June 4.3 Revised From 3.4 31.1
The U.S. dollar traded mixed against the most major currencies ahead the release of the U.S. inflation data. The U.S. consumer price inflation is expected to rise to 0.2% in July from 0.1% in June.
The U.S. consumer price index excluding food and energy is expected to remain unchanged at 1.8% in July.
The Fed will release its latest monetary policy minutes at 18:00 GMT. Market participants will be looking for signs if the Fed will start raising its interest rate in September.
The euro traded lower against the U.S. dollar despite news that the German parliament voted for the Greek bailout.
Meanwhile, the economic data from the Eurozone was mixed. Eurozone's current account surplus climbed to a seasonally adjusted €25.4 billion in June from €19.1 billion in May.
The surplus was driven by higher surpluses on trade in goods and primary income. The trade surplus rose to €27.2 billion in June from €24.9 billion in May, while primary income increased to €1 billion from €0.8 billion.
The surplus on services declined to €5.7 billion in June from €6.6 billion in May, while the secondary income dropped to €8.4 billion from €13.3 billion.
Eurozone's unadjusted current account surplus soared to €31.1 billion in July from EUR 4.3 billion in May. May's figure was revised up from a surplus of €3.4 billion.
Construction production in the Eurozone decreased 1.9% in June, after a 0.2% rise in May. May's figure was revised down from a 0.3% gain.
Civil engineering output declined 2.7% in June, while production in the building sector dropped 1.6%.
On a yearly basis, construction output fell 2.3% in June, after a 0.2% rise in May. May's figure was revised down from 0.3% increase.
The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K:
EUR/USD: the currency pair fell to $1.1029
GBP/USD: the currency pair declined to $1.5657
USD/JPY: the currency pair rose to Y124.36
The most important news that are expected (GMT0):
12:30 U.S. CPI, m/m July 0.3% 0.2%
12:30 U.S. CPI, Y/Y July 0.1% 0.2%
12:30 U.S. CPI excluding food and energy, m/m July 0.2% 0.2%
12:30 U.S. CPI excluding food and energy, Y/Y July 1.8% 1.8%
18:00 U.S. FOMC meeting minutes