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05:30 France GDP, Y/Y (finally) Quarter I +0.3% +0.3% +0.3%
06:00 Germany Retail sales, real adjusted May +0.6% +0.1% -0.3%
06:00 Germany Retail sales, real unadjusted, y/y May -3.8% -1.1%
06:45 France Consumer spending May +0.6% 0.0% +0.4%
06:45 France Consumer spending, y/y May +0.4% +0.1% +0.6%
07:00 Switzerland KOF Leading Indicator June 0.81 0.88 1.16
08:00 Eurozone M3 money supply, adjusted y/y May +2.5% +2.4% +2.9%
09:00 Eurozone Harmonized CPI, Y/Y (preliminary) June +2.4% +2.4% +2.4%
The euro rose after European leaders eased terms on loans to Spanish banks, taking a step toward resolving the region’s debt crisis and boosting demand for the shared currency.
The common currency advanced as European Union President Herman Van Rompuy said officials meeting in Brussels agreed to drop the condition that emergency loans to Spanish banks give creditor governments preferred status.
Spain’s 10-year bond yield fell to 6.6%. Italy’s 10-year yield slid 23 basis points to 5.96%.
EUR/USD: during most part of European session, the pair consolidated in $1.2550 - $1.2630. Later the pair rose above.
GBP/USD: the pair retreated to $1.5570 area, but later came back above $1.5600.
USD/JPY: the pair retreated to Y79.50 area.
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