European session:

Data:

06:30 France GDP (Q3) preliminary 0.4%

06:30 France GDP (Q3) preliminary Y/Y 1.6%

07:00 Germany GDP (Q3) flash 0.5%

07:00 Germany GDP (Q3) flash Y/Y 2.6%

09:30 UK HICP (October) 0.1%

09:30 UK HICP (October) Y/Y 5.0%

09:30 UK HICP ex EFAT (October) Y/Y 3.4%

09:30 UK Retail prices (October) 0.0%

09:30 UK Retail prices (October) Y/Y 5.4%

09:30 UK RPI-X (October) Y/Y 5.6%

10:00 Germany ZEW economic expectations index (November) -55.2

10:00 EU(17) GDP (Q3) flash 0.2%

10:00 EU(17) GDP (Q3) flash Y/Y 1.4%

10:00 EU(17) Trade balance (September) unadjusted, bln 2.9

10:00 EU(17) Trade balance (September) adjusted, bln 2.1

The euro slumped for a second day as European bond yields surged at auctions and Italy’s premier-in- waiting Mario Monti faced resistance to forming a Cabinet, fueling concern efforts to solve the debt crisis are faltering.

The euro dropped to a one-month low against the yen as Italy’s 10-year yield surpassed the 7 percent threshold that prompted Greece, Ireland and Portugal to seek bailouts.

Spain raised 3.16 billion euros from selling 12- and 18- month bills today, less than its maximum target of 3.5 billion euros. The average yield on the one-year securities climbed to 5.022 percent from 3.608 percent at the previous sale Oct. 18. Greek and Belgian borrowing costs also rose at auctions today.

The ZEW Center for European Economic Research said its index of investor and analyst expectations, which aims to predict developments six months in advance, declined to minus 55.2 this month, the lowest since October 2008.

EUR/USD: the pair fell in $1.3530 area.

GBP/USD: the pair fell in $1.5850 area.

USD/JPY: the pair decreased in Y77,00 area.