Foreign exchange market. European session: the euro traded lower against the U.S. dollar on the uncertainty over the debt talks between Greece and its lenders

Economic calendar (GMT0):

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

04:30 Australia Announcement of the RBA decision on the discount rate 2.0% 2% 2.0%

04:30 Australia RBA Rate Statement

05:45 Switzerland Unemployment Rate (non s.a.) June 3.2% 3.3% 3.1%

06:00 Germany Industrial Production s.a. (MoM) May 0.6% Revised From 0.9% 0.1% 0.0%

06:00 Germany Industrial Production (YoY) May 1.1% Revised From 1.4% 2.1%

06:45 France Trade Balance, bln May -3.3 Revised From -3.0 -3.3 -4.0

07:00 Switzerland Foreign Currency Reserves June 517.7 516.2

08:30 United Kingdom Industrial Production (YoY) May 1.2% 1.6% 2.1%

08:30 United Kingdom Industrial Production (MoM) May 0.3% Revised From 0.4% -0.2% 0.4%

08:30 United Kingdom Manufacturing Production (MoM) May -0.4% 0.1% -0.6%

08:30 United Kingdom Manufacturing Production (YoY) May 0.1% Revised From 0.2% 1.8% 1%

09:00 Eurozone Euro Summit

09:00 Eurozone Eurogroup Meetings

The U.S. dollar traded higher against the most major currencies ahead of U.S. economic data. The U.S. trade deficit is expected to widen to $42.6 billion in May from $40.88 billion in April.

Job openings are expected to decline to 5.35 million in May from 5.376 million in April.

The euro traded lower against the U.S. dollar on the uncertainty over the debt talks between Greece and its lenders. Eurozone leaders are awaiting new proposals from Greek Prime Minister Alexis Tsipras.

Greek Finance Minister Yanis Varoufakis has resigned after Greeks said "No" to the creditors' proposals. Euclides Tsakalotos has been named Greece's new finance minister.

News reported that Greek banks remain closed until July 08. Daily cash withdrawals remain limited to 60 euros and payments and transfers abroad remain banned.

The European Central Bank (ECB) decided not to raise the amount of emergency funding (ELA) on Monday.

Meanwhile, the economic data from the Eurozone was mixed. German industrial production was flat in May, missing expectations for a 0.1% gain, after a 0.6% rise in April. April's figure was revised down from a 0.9% increase.

According to the French Customs, France's trade deficit widened to €4.0 billion in May from €3.3 billion in April. April's figure was revised down from a deficit of €3.0 billion.

Analysts had expected a trade deficit of €3.3 billion.

Exports declined 0.6% in May, while imports rose 1.2%.

The British pound traded lower against the U.S. dollar despite the mostly solid economic data from the U.K. Manufacturing production in the U.K. dropped 0.6% in May, missing expectations for a 0.1% gain, after a 0.4% decrease in April.

Manufacturing output was driven by a decline in a decline in the manufacture of weapons and ammunition, which dropped 21.5%.

On a yearly basis, manufacturing production in the U.K. increased 1.0% in May, missing forecast of a 1.8% gain, after a 0.1% rise in April. April's figure was revised down from a 0.2% gain.

Industrial production in the U.K. climbed 0.4% in May, beating forecasts of a 0.2% fall, after a 0.3% gain in April. April's figure was revised down from 0.4% increase.

The increase in the industrial output was driven by higher oil and gas production. Oil and gas extraction increased 7.3% in May.

On a yearly basis, industrial production in the U.K. gained 2.1% in May, exceeding expectations for a 1.6% rise, after a 1.2% increase in April.

The Canadian dollar traded lower against the U.S. dollar ahead of Canadian trade data. The Canadian trade deficit is expected to narrow to C$2.5 billion in May from C$2.97 billion in April.

The Swiss franc traded lower against the U.S. dollar after the mixed economic data from Switzerland. The Swiss unemployment rate remained unchanged at a seasonally adjusted 3.3% in June.

On a seasonally unadjusted basis, the unemployment rate in Switzerland declined to 3.1% in June from 3.2% in May. Analysts had expected the unemployment rate to increase to 3.3%.

The Swiss National Bank's foreign exchange reserves decreased to 516.240 billion Swiss francs in June from 517.718 billion francs in May. It was the third consecutive decline despite the intervention by the Swiss National Bank.

May's figure was revised up from 517.488 billion francs.

EUR/USD: the currency pair fell to $1.0923

GBP/USD: the currency pair declined to $1.5428

USD/JPY: the currency pair decreased to Y122.32

The most important news that are expected (GMT0):

12:30 Canada Trade balance, billions May -2.97 -2.5

12:30 U.S. International Trade, bln May -40.88 -42.6

14:00 U.S. JOLTs Job Openings May 5.376 5.35