European session: the euro fluctuates

Data
01:00 New Zealand NBNZ Business Confidence July 15.1 19.5%
01:30 Australia Building Permits, m/m July -2.5% -4.7% -17.3%
01:30 Australia Building Permits, y/y July +10.2% +6.0% +4.8%
01:30 Australia Private Capital Expenditure Quarter II +6.1% +3.1% +3.4%
07:55 Germany Unemployment Change August 7 7 9
07:55 Germany Unemployment Rate s.a. August 6.8% 6.8% 6.8%
08:30 United Kingdom Net Lending to Individuals, bln July 0.3 1.1 0.9
08:30 United Kingdom Mortgage Approvals July 44.2 47.0 47.3
09:00 Eurozone Business climate indicator August -1.27 -1.30 -1.21
09:00 Eurozone Industrial confidence August -15.0 -15.5 -15.3

The euro rose against the dollar ahead of the meeting of Spanish and French leaders to be held in Madrid around 12:30 GMT, which will consider the situation in Spain and the possibility of a second European crisis.
Also, the single currency rose against major currencies amid falling borrowing costs in Italy. Italy sold a ten-year treasury bills in the amount of 4.0 billion euros, 3.0-4.0 billion euro target. The ratio of applications to cover was 1.42 versus 1.29 previously. The maximum yield was 5.82%, against 5.96% previously.
The demand for the euro is rising after yesterday's interview with ECB President Draghi German weekly Die Zeit, in which he stated that the ECB will remain independent and to always act within the mandate
The dollar weakened against the euro and the yen, as investors are awaiting speech by Federal Reserve Chairman Ben Bernanke's speech in Jackson Hole tomorrow, where he will give a signal to hold new measures to stimulate the economy.
The pound rose against the dollar after data showed that the number of approved applications for mortgage loans increased in July, thus indicating a recovery from the recession in June. Data from the Bank of England showed that the number of mortgage approvals rose to the level of 47,312 in July
Canadian dollar continues to decline relative to the 16 major currencies after yesterday's data showed that the U.S. economy, which is the largest trading partner, increased by more than the initial estimate.
Revised Department of Commerce data showed that U.S. GDP grew by 1.7% in the year from April to June, compared with the initial estimate of 1.5%.
The Australian dollar fell against most major currencies after a government report that the number of approved applications for housing construction fell in July to -17.3%, reaching the minimum values ​​at the same time in the last ten years in the background of the fact that most of the investment now accounts mining industry, which is now at its peak. We also learned that the profitability of Australian 10-year bonds continued to decline, fixing the fall for 10 consecutive days, and is on the verge of the long fall, at least since 1990. Demand for the currency of the South Pacific is now limited to the release of U.S. data, which is expected to be able to show growth in the number of unemployment benefits and personal expenses.

EUR/USD: during the European session, the pair rose to a high of $ 1.2564, and then fell to the opening level of the day
GBP/USD: pair rose sharply with a minimum value and is now trading in the maximum values ​​of the previous day
USD/JPY: the pair is trading in a narrow range at the level of the minimum values ​​of the day

At 12:30 GMT, Canada will provide the balance of the current account balance of payments for the second quarter. At the same time, the U.S. will report on the number of initial claims for unemployment insurance in August, the number of repeated applications for unemployment benefits in August. Also released the main index for personal consumption expenditures, deflator of personal consumption expenditures in July, and the data on changes in the level of spending for July. At 15:00 GMT the United States will be an economic symposium in Jackson Hole. At 23:01 GMT the UK will publish an indicator of consumer confidence from the GfK for August. At 23:30 GMT, Japan will report on changes in the level of household spending for July, the consumer price index of Tokyo, Tokyo, the consumer price index excluding prices for fresh food, Tokyo CPI excluding prices for food and energy, consumer price index, the consumer price index excluding prices for fresh food and the consumer price index excluding prices for food and energy prices in July. Also during this time will be the preliminary data on industrial production for July.