The euro remained under pressure despite positive news from Athens. German Parliament approved Greece's bailout program and euro zone officials constructed a plan, which allows Greece to receive €7 billion to make a payment to the European Central Bank on Monday. Earlier the Eurogroup agreed with the European Commission's proposal to use the European Financial Stability Mechanism for Greece's bridge financing. This week investors will be focused on negotiations between Greece and its international lenders.
The Australian dollar fell amid significant declines in commodity prices and cuts in forecasts of iron ore and coal prices. The AUD also got affected by China's housing price index, which rose to -4.9% from -5.7% reported previously.
Japanese markets are closed due to Marine Day.
EUR/USD: the pair declined to $1.0820 in Asian trade
USD/JPY: the pair advanced to Y124.20
GBP/USD: the pair fell to $1.5580
The most important news that are expected (GMT0):
(time / country / index / period / previous value / forecast)
08:00 Germany Producer Price Index (MoM) June 0.0% 0.0%
08:00 Germany Producer Price Index (YoY) June -1.3% -1.3%
10:00 Eurozone Current account, unadjusted, bln May 20.4 23.2
12:00 Germany Bundesbank Monthly Report
14:30 Canada Wholesale Sales, m/m May 1.9% 0.0%