European session: the euro fluctuates

Data
01:30 Australia Construction Work Done Quarter II +7.8% +1.1% -0.2%
07:00 Switzerland KOF Leading Indicator August 1.43 1.52 1.57

The euro traded near an eight-week high today against the dollar ahead of the meeting of Italian Prime Minister Mario Monti and German Chancellor Angela Merkel, who will be held today in Berlin, and at which they will discuss measures to prevent the debt crisis.
The single currency rose against the yen, as traders are waiting for the European Central Bank will set out details of its plan to buy government bonds.
The dollar index (DXY) was little changed before the publication of important data from the U.S. in terms of GDP and pending home sales.
The euro rose 2.7% against the dollar since August 1, after European Central Bank President Mario Draghi said that the central bank can buy Spanish and Italian bonds to reduce borrowing costs.
As markets are awaiting speech by Federal Reserve Chairman Ben Bernanke, who will give a speech 31 and is likely to shed light on the future of U.S. monetary policy.
Pound in mid-session trading reserved, but in the last hour has risen sharply against the dollar ahead of the release of the consumer price index in Germany. At the same time, the dollar has appreciated significantly against the euro.


EUR / USD: during the European session, the pair rose to a high of $ 1.2574, and then fell to the lowest level session
GBP / USD: pair rose sharply in the last hour, updating the yesterday's high
USD / JPY: the pair is trading in a narrow range at the maximum of the day

At 12:00 GMT Germany will preliminary index of consumer prices for August. At 12:30 GMT, Canada will report on the index of commodity prices for July. At the same time, the U.S. will publish data on GDP growth on the specified data for the second quarter, the GDP price index, the main index of personal consumption expenditures, the index of personal consumption expenditures in the second quarter. At 14:00 GMT the U.S. said the change in our pending home sales for July. At 14:30 GMT the U.S. will release data on stocks of crude oil from the Ministry of Energy in August. At 18:00 GMT the U.S. will publish economic survey of the Fed's regions "Beige Book." At 22:45 GMT New Zealand will report the relative change in the volume of building permits issued in July. At 23:50 GMT Japan are data on Retail Sales for July