Foreign exchange market. European session: the U.S. dollar traded mixed to lower against the most major currencies in the absence of any major economic reports from the U.S.

Economic calendar (GMT0):

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

00:00 Japan Bank holiday

12:00 Canada Bank holiday

12:00 U.S. Bank holiday

12:10 U.S. FOMC Member Dennis Lockhart Speaks

The U.S. dollar traded mixed to lower against the most major currencies in the absence of any major economic reports from the U.S.

Thursday's minutes of the Fed's latest meeting still weighed on the greenback. The Fed said that it wanted to have more time to see if the slowdown in the global economy will have a negative effect on the U.S. economy.

Most Federal Open Market Committee (FOMC) members expect the Fed to start raising its interest rate this year.

FOMC members noted that the U.S. labour market continued to improve, while the inflation remained at low levels.

The euro traded mixed against the U.S. dollar in the absence of any major economic data from the Eurozone.

European Central Bank (ECB) Executive Board Member Benoit Coeure said in an interview with CNBC on Monday that it is too early to decide if to expand the asset-buying programme or not.

"If anything were needed, we would need to be ready. But it is too early to pass that kind of judgement," he said.

Coeure noted that the economy was recovering but there are risks from the slowdown in the emerging economies.

The ECB President Mario Draghi said in an interview with the Greek newspaper Kathimerini published on Saturday that the central bank's asset-buying programme is working better than expected but reaching the 2% inflation may take more time due to lower oil prices.

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

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair fell to $1.5321

USD/JPY: the currency pair declined to Y120.09

The most important news that are expected (GMT0):

14:30 U.S. FOMC Member Charles Evans Speaks

17:20 Canada BOC Gov Stephen Poloz Speaks

20:30 U.S. FOMC Member Brainard Speaks

21:40 Australia RBA Assist Gov Lowe Speaks

23:50 Japan Monetary Policy Meeting Minutes