Foreign exchange market. Asian session: the euro traded in a narrow range

Economic calendar (GMT0):

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

00:00 China Trade Balance, bln June 59.488 55.7 45.6

04:30 Japan Tertiary Industry Index May -0.2% -0.7%

04:30 Japan Industrial Production (MoM) (Finally) May 1.2% -2.2% -2.1%

04:30 Japan Industrial Production (YoY) (Finally) May 0.1% -4.0% -3.9%

The euro traded in a narrow range after Friday's advance. Euro zone leaders decided not to expel Greece from the single currency area in exchange for the country's consent to meet its obligations. Parties agreed that Greece will receive help stepwise. Greece has to "push" 6 reform projects through parliament until July 14. Greek PM Alixis Tsipras said he would go for these projects to persuade its partners to start negotiations on a third bailout program worth €86 billion ($95.5 billion). If Greece meets these conditions German parliament will meet Thursday to provide German chancellor and finance minister with a mandate for negotiations regarding a new loan.

The Australian dollar rose after China (its biggest trading partner) reported that its imports fell 6.1% in June. However traders welcomed this decline as analysts expected a 16.0% drop. Thus the Australian dollar advanced. In June China trade surplus came in at $45.61 billion vs $55.7 billion expected.

EUR/USD: the pair stayed around $1.1110-50 in Asian trade

USD/JPY: the pair fell to Y122.40

GBP/USD: the pair traded around $1.5490-20

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

08:30 United Kingdom BOE Credit Conditions Survey Quarter II

09:00 Eurozone Eurogroup Meetings

18:00 U.S. Federal budget June -82.4 51