Foreign exchange market. Asian session: the yen climbed as investors prepared for a Federal Reserve meeting

Economic calendar (GMT0):

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

00:30 Australia Leading Index August 0.0% -0.3%

The yen advanced against the U.S. dollar. Investors are cautious now ahead of the Federal Reserve's decision, which will be announced on Thursday.

A survey by the Wall Street Journal showed that approximately 46% of the economists surveyed last week expect the Fed to raise rates in September. 35% of economists said the Fed would raise rates in December and 9.5% said they expect a liftoff in 2016. At the same time Barclays surveyed 700 investors last week and only 36% of the respondents believe that the central bank of the U.S. will raise rates in September.

The euro climbed slightly against the greenback, but it's likely to be range-bound ahead of Fed's decision. Market participants are also waiting for U.S. August inflation data, which will be released later today. If the data exceed forecasts investors might get more cautious.

The Australian dollar declined slightly amid leading index data from Westpac. Australia's leading economic index fell to -0.3% in August from 0 in July. Nevertheless the AUD managed to rebound amid gains in Asian stocks.

EUR/USD: the pair rose to $1.1300 in Asian trade

USD/JPY: the pair fell to Y120.15

GBP/USD: the pair traded within $1.5335-55

The most important news that are expected (GMT0):

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

08:30 United Kingdom Average Earnings, 3m/y July 2.4% 2.5%

08:30 United Kingdom Average earnings ex bonuses, 3 m/y July 2.8% 2.9%

08:30 United Kingdom ILO Unemployment Rate July 5.6% 5.6%

08:30 United Kingdom Claimant count August -4.9 -5

09:00 Eurozone Harmonized CPI August -0.6% 0%

09:00 Eurozone Harmonized CPI, Y/Y (Finally) August 0.2% 0.2%

09:00 Eurozone Harmonized CPI ex EFAT, Y/Y (Finally) August 1% 1%

09:00 Switzerland Credit Suisse ZEW Survey (Expectations) September 5.9

11:00 U.S. MBA Mortgage Applications September -6.2%

12:30 Canada Manufacturing Shipments (MoM) July 1.2% 1%

12:30 U.S. CPI, m/m August 0.1% 0.0%

12:30 U.S. CPI, Y/Y August 0.2% 0.2%

12:30 U.S. CPI excluding food and energy, m/m August 0.1% 0.1%

12:30 U.S. CPI excluding food and energy, Y/Y August 1.8% 1.9%

14:00 U.S. NAHB Housing Market Index September 61 61

14:30 U.S. Crude Oil Inventories September 2.570 0

20:00 U.S. Total Net TIC Flows July -110.3

20:00 U.S. Net Long-term TIC Flows July 103.1

22:45 New Zealand GDP q/q Quarter II 0.2% 0.5%

22:45 New Zealand GDP y/y Quarter II 2.6% 2.5%

23:50 Japan Trade Balance Total, bln August -268.1 -541.3