European session: the euro fluctuated

At the beginning of the European session, the euro fell against the dollar and the yen after GfK data showed that in October, the consumer confidence index in Germany will remain the same at 5.9, which was in line with the average forecast of analysts. The last time the index exceeded this mark in March 2011.

Disagreements about how to overcome the European debt crisis continues to grow. Failure to reach agreement in the banking union, uncertainty as to whether Spain needed a complete package of assistance, as well as complex negotiations with Greece - is not the best way could affect consumer confidence.

In addition, S & P has lowered its forecast for GDP growth in the euro area for 2012 - 2013, stating that the eurozone is entering a new period of recession.

Euro fell against most of its 16 major counterparts as the background of the Spanish government bond yield growth and falling demand for debt securities Italy.

Later, after the announcement of the auction results of the European Central Bank's weekly deposits euro recovered to session highs.

The yen touched week high against the U.S. dollar, amid falling Asian stocks, which stimulates demand for the Japanese currency as a safe-haven for.

The dollar rose against the euro ahead of today's publication of the data in the U.S.. According to the median estimate of economists indicator of consumer confidence in the world's largest economy is likely to grow in September to 63.2, against 60.6 in August. It is also expected that the price index of the S & P / Case-Shiller today may show that housing prices in 20 major U.S. cities in July, rose 1.1%. This will be the highest reading since August 2010.

EUR / USD: the pair decreased to $ 1.2885, then rose to $ 1.2944

GBP / USD: the pair rose to $ 1.6268, then dropped to $ 1.6223

USD / JPY: the pair dropped to Y77.65

At 12:30 GMT, Canada will release the change in retail sales and the change in retail sales excluding auto sales for July. In the U.S. at 14:00 GMT indicator of consumer confidence will be released in September and 20:30 GMT - the change in volume of crude oil, according to API. At 23:50 GMT, Japan will issue a change in retail sales for August.