Foreign exchange market. European session: the euro traded higher against the U.S. dollar after the better-than-expected Ifo figures from Germany

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

00:00 Japan Bank holiday

08:15 Switzerland Employment Level Quarter III 4.20 4.22 4.23

09:00 Germany IFO - Business Climate November 103.2 103.0 104.7

09:00 Germany IFO - Current Assessment November 108.4 108.2 110.0

09:00 Germany IFO - Expectations November 98.3 98.5 99.7

The U.S. dollar mixed against the most major currencies ahead of the U.S. preliminary services purchasing managers' index (PMI). The U.S. preliminary services PMI is expected to climb to 57.3 in November from 57.1 in October.

The euro traded higher against the U.S. dollar after the better-than-expected Ifo figures from Germany. German Ifo business climate index rose to 104.7 in November from 103.2 in October, beating expectations for a decline to 103.0.

The euro dropped against the greenback on Friday after comments by the European Central Bank (ECB) President Mario Draghi. He reiterated that the ECB is prepared to add further stimulus measures if needed. Investors speculate that the central bank is moving closer to launch the quantitative easing programme.

The British pound traded higher against the U.S. dollar in the absence of any major economic reports from the U.K.

The Swiss franc traded higher against the U.S. dollar. The number of employed people climbed to 4,230 million in the third quarter from 4,196 million in the second quarter. Analysts had expected the number of employed people to increase to 4,220 million.

EUR/USD: the currency pair rose to $1.2414

GBP/USD: the currency pair climbed to $1.5693

USD/JPY: the currency pair increased to Y118.38

The most important news that are expected (GMT0):

14:00 Belgium Business Climate November -6.8 -5.3

14:45 U.S. Services PMI (Preliminary) November 57.1 57.3

23:50 Japan Monetary Policy Meeting Minutes