Data released:
07:00     UK     Halifax house price index (May)    0.1%    0.3%    -1.4%
07:00     UK     Halifax house price index (May) 3m Y/Y    -4.2%    -4.0%    -3.7%
09:00     EU(17)     Retail sales (April) adjusted    0.9%    0.3%    -1.0%
09:00     EU(17)     Retail sales (April) adjusted Y/Y     1.1%    0.0%    -1.7%
10:00     Germany     Manufacturing orders (April) seasonally adjusted    2.8%    2.1%    -2.7 (-4.0)%
10:00     Germany     Manufacturing orders (April) not seasonally adjusted, workday adjusted Y/Y    10.5%    9.2%    10.1 (9.7)%

The euro appreciated as the European Central Bank signalled its approval of Greek bond rollovers and German Chancellor Angela Merkel told U.S. President Barack Obama the region will overcome its debt crisis.
The single currency reached a one-month high versus the dollar and approached its strongest level in a week versus the yen.
ECB President Jean-Claude Trichet yesterday gave his first signal that he endorses encouraging investors to buy new Greek bonds to replace maturing securities, potentially making the debt situation more sustainable.
The Dollar Index slid to the lowest in more than a month as a Chinese official said there are risks from holding too many dollar assets.
The central bank left its benchmark interest rate unchanged for a sixth meeting as signs of slower growth from the U.S. to China dimmed prospects for an acceleration in hiring at home.
Australia’s dollar fell from near a four-week high against its U.S. counterpart as policymakers said monetary policy remains appropriate.
The Canadian dollar rose against its U.S. counterpart and the yen as Finance Minister Jim Flaherty said he will seek to bring federal finances back into surplus by 2014. Flaherty’s Conservative Party won a majority in last month’s election.

EUR/USD rose to session high on $1.4680 before retreated to $1.4650.

GBP/USD tested highs on $1.6470, but failed to break above abd retreated to $1.6416.

USD/JPY slowly recovers fron Asian lows on Y79.96. Rate recovered to Y80.24.

There is a lack of early data from core-Europe on Tuesday, with data not getting going until the 0900GMT release of EMU retail trade data for April. Germany then releases total manufacturing orders at 1000GMT.
At 1945GMT Fed Chairman Ben Bernanke is due to deliver a speech to the International Monetary Conference in Atlanta.