The dollar weakened against the world's major global currencies on Tuesday after IMF and EU policymakers agreed to reduce Greece's debt-reduction target by EUR40 billion to 124% of gross domestic product by 2020, an accord needed by IMF to free up aid. Greece will cut debt burdens down further to 110% by 2022, while EU and IMF policymakers agreed to trim interest rates on Greek loans, extend their maturity by 15-30 years, and grant the country a 10-year interest repayment deferral. Greece is set to avoid default.
In Spain’s Catalonia region separatist parties won the majority of the public vote in elections held over the weekend, which tempered the euro's rally. Catalonia accounts for nearly a fifth of Spain's economic activity and provides the most tax revenue to the central government.
Later US are to release official data on durable goods orders, a leading indicator of production, as well as industry data on house price inflation. US consumer confidence data will also be published and FED chairman is to deliver brief remarks at the National College Fed Challenge Finals, in Washington DC.