Foreign exchange market. European session: the euro declined against the U.S. dollar

Economic calendar (GMT0):

07:30 Switzerland SNB Quarterly Bulletin Quarter II

09:00 Eurozone EU Economic Summit

09:30 United Kingdom BOE Financial Stability Report

09:30 United Kingdom BOE Gov Mark Carney Speaks

The U.S. dollar traded mixed against the most major currencies ahead of the U.S. economic data. Initial jobless claims in the U.S. should increase by 2,000 to 314,000.

The personal income should climb 0.5% in May, after a 0.3% gain. The personal spending in the U.S. should rise 0.5% in June, after a 0.1% decline.

Yesterday's weak U.S. GDP weighed on the U.S. currency. U.S. GDP dropped 2.9% in the first quarter, missing expectations for a 1.7% decline, after a 1.0% decline the previous quarter.

The euro declined against the U.S. dollar in the absence of any major economic reports.

The British pound increased against the U.S. dollar after the Bank of England report and the Bank of England Governor Mark Carney's speech. The BoE plans to cap mortgages beginning from October. Borrowers limited to 4.5 times income.

The Bank of England Governor Mark Carney said the recovery in the U.K. economy is strengthening. But he added the housing market is the main risk to financial stability.

EUR/USD: the currency pair declined to $1.3605

GBP/USD: the currency pair increased to $1.7035

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

12:30 U.S. Initial Jobless Claims June 312 314

12:30 U.S. Personal Income, m/m May +0.3% +0.5%

12:30 U.S. Personal spending June -0.1% +0.4%

12:30 U.S. PCE price index ex food, energy, m/m May +0.2% +0.2%

12:30 U.S. PCE price index ex food, energy, Y/Y May +1.4% +1.7%

22:45 New Zealand Trade Balance, mln May 534 250

23:05 United Kingdom Gfk Consumer Confidence June 0 2

23:30 Japan Unemployment Rate May 3.6% 3.6%

23:30 Japan Household spending Y/Y May -4.6% -1.9%

23:30 Japan Tokyo Consumer Price Index, y/y June +3.1%

23:30 Japan Tokyo CPI ex Fresh Food, y/y June +2.8% +2.8%

23:30 Japan National Consumer Price Index, y/y May +3.4%

23:30 Japan National CPI Ex-Fresh Food, y/y May +3.2% +3.4%

23:50 Japan Retail sales, y/y May -4.3% -1.9%