Foreign exchange market. Asian session: the euro gained

Economic calendar (GMT0):

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

01:00 China Manufacturing PMI January 49.7 49.6 49.4

01:00 China Non-Manufacturing PMI January 54.4 53.5

01:45 China Markit/Caixin Manufacturing PMI January 48.2 48.4

02:00 Japan Manufacturing PMI (Finally) January 52.6 52.4 52.3

The euro climbed against the U.S. dollar on expectations of strong retail sales data from the euro zone. Economists expect sales to have risen significantly in December. If data meet expectations this would be a positive sign for the economy of the single currency area. Some analysts believe that weak data released previously were driven by seasonal factors and the economy was actually doing better.

The yen little changed amid Japanese manufacturing activity data. The index came in at 52.3 points in January, having declined slightly from a twenty-month high reached in December. Economists had expected a reading of 52.4. Conditions in the manufacturing sector of the country's economy continued improving.

The Australian dollar declined at the beginning of the session amid data from Australia's major trading partner China. China Federation of Logistics and Purchasing reported that the country's Manufacturing PMI declined to 49.4 in January compared to 49.7 reported previously and 49.6 expected.

EUR/USD: the pair rose to $1.0850 in Asian trade

USD/JPY: the pair traded within Y121.05-45

GBP/USD: the pair rose to $1.4265

The most important news that are expected (GMT0):

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

08:30 Switzerland Manufacturing PMI January 52.1 50.9

08:50 France Manufacturing PMI (Finally) January 51.4 50

08:55 Germany Manufacturing PMI (Finally) January 53.2 52.1

09:00 Eurozone Manufacturing PMI (Finally) January 53.2 52.3

09:30 United Kingdom Consumer credit, mln December 1476 1300

09:30 United Kingdom Mortgage Approvals December 70.41 69.6

09:30 United Kingdom Purchasing Manager Index Manufacturing January 51.9 51.8

13:30 U.S. Personal Income, m/m December 0.3% 0.2%

13:30 U.S. Personal spending December 0.3% 0.1%

13:30 U.S. PCE price index ex food, energy, m/m December 0.0% 0.1%

13:30 U.S. PCE price index ex food, energy, Y/Y December 1.3%

14:45 U.S. Manufacturing PMI (Finally) January 51.2 52.7

15:00 U.S. Construction Spending, m/m December -0.4% 0.6%

15:00 U.S. ISM Manufacturing January 48 48

16:00 Eurozone ECB President Mario Draghi Speaks

18:00 U.S. FED Vice Chairman Stanley Fischer Speaks