Foreign exchange market. European session: the euro traded lower against the U.S. dollar as concerns over Greece's debt problems continue to weigh on the euro

Economic calendar (GMT0):

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

06:00 Germany Producer Price Index (MoM) March 0.1% 0.2% 0.1%

06:00 Germany Producer Price Index (YoY) March -2.1% -2.6% -1.7%

10:00 Germany Bundesbank Monthly Report

The U.S. dollar traded higher against the most major currencies. The greenback recovered from last week's weaker-than-expected U.S. economic data.

There will be released no major U.S. economic reports today.

The euro traded lower against the U.S. dollar as concerns over Greece's debt problems continue to weigh on the euro. Greece is still running out of cash, and it needs a new tranche of loans. The Greek government hopes to unblock a new tranche of loans at the Eurogroup meeting on April 24. Germany's Finance Minister Wolfgang Schäuble said last week that he did not expect that a solution will be found on April 24.

The Bundesbank released its monthly report on Monday. The central bank said that strong private consumption will be a driver of the economic growth in Germany. "The exceptionally good environment for consumption, based on the solid state of the labour market and strong growth in real wages point to this development continuing for some time," the Bundesbank noted.

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

EUR/USD: the currency pair decreased to $1.0711

GBP/USD: the currency pair fell to $1.4887

USD/JPY: the currency pair rose to Y119.13

The most important news that are expected (GMT0):

15:05 Canada BOC Gov Stephen Poloz Speaks

16:30 Australia RBA's Governor Glenn Stevens Speech