Foreign exchange market. Asian session: the Australian dollar declined amid GDP data

Economic calendar (GMT0):

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

01:30 Australia Gross Domestic Product (QoQ) Quarter II 0.9% 0.4% 0.2%

01:30 Australia Gross Domestic Product (YoY) Quarter II 2.3% 2.2% 2.0%

The yen advanced amid correction of the dollar and gains in Japanese stocks. Yesterday the greenback's decline was caused by statistics from China and the U.S. China Federation of Logistics and Purchasing reported that the country's manufacturing PMI fell to 49.7 in August from 50 in July, slipping below the 50 points threshold that separates expansion from contraction. The Institute for Supply management reported that U.S. manufacturing index came in at 51.1 in August compared to 52.7 in July, while economists had expected the index to slide only to 52.6.

The Australian dollar fell below $0.70 for a short while after release of Australian GDP data. A report showed that the country's GDP rose by 0.2% in the second quarter missing expectations for a 0.4% rise. In the first quarter the index came in at 0.9%. On an annualized basis GDP rose by 2.0%, while economists had expected a reading of +2.2%. Slower growth was caused by declines in mining and construction activity as well as by lower prices of export commodities.

EUR/USD: the pair fell to $1.1260 in Asian trade

USD/JPY: the pair rose to Y120.45

GBP/USD: the pair traded within $1.5290-20

The most important news that are expected (GMT0):

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

08:30 United Kingdom PMI Construction August 57.1 57.5

09:00 Eurozone Producer Price Index, MoM July -0.1% -0.1%

09:00 Eurozone Producer Price Index (YoY) July -2.2% -2.1%

11:00 U.S. MBA Mortgage Applications August 0.2%

12:15 U.S. ADP Employment Report August 185 201

14:00 U.S. Factory Orders July 1.8% 0.9%

14:30 U.S. Crude Oil Inventories August -5.452 -1.5

18:00 U.S. Fed's Beige Book

23:30 Australia AIG Services Index August 54.1