Asian session: The dollar held near a four-week high

01:00 Australia HIA New Home Sales, m/m July +3.4% -4.7%

01:00 New Zealand ANZ Business Confidence August 52.8 48.1

01:30 Australia Private Capital Expenditure Quarter II -4.1% Revised From -4.7% +0.2% +4.0%

The dollar held near a four-week high against a basket of its peers before U.S. data forecast to show the economy grew faster than initially estimated, adding to the case for the Federal Reserve to slow monetary stimulus. Revised figures from the U.S. Commerce Department today will probably show gross domestic product expanded at a 2.2 percent annualized rate in the second quarter, according to a Bloomberg News survey of economists, compared with the initial reading of 1.7 percent. Separate data today are projected to show a decline in applications for jobless benefits. Fed policy makers are debating whether the economy is strong enough to allow them to pare back monthly purchases of $85 billion in Treasuries and mortgage debt. Officials will cut the amount at their next meeting on Sept. 17-18, according to 65 percent of economists in an Aug. 9-13 Bloomberg survey.

The Swiss franc weakened against most of its 16 major counterparts as ABN Amro Group NV said that the risk aversion spurred by mounting tension in Syria is going to ease. The U.S. and its NATO allies began presenting their justification for military action against Syria as they advanced plans for launching strikes and prepared evidence that the Middle Eastern regime used chemical weapons on its own people. Syrian President Bashar al-Assad’s government has denied allegations it used chemical weapons.

German figures due today are projected to show the number of people out of work decreased in August for a third month, according to analyst estimates. The unemployment rate probably held near a two-decade low of 6.8 percent.

Another report will probably show German inflation slowed in August, signaling price pressures remain contained in Europe’s largest economy. The consumer price index, calculated using a harmonized European Union method, rose 1.7 percent from a year earlier, compared with 1.9 percent in July, according to the median economist estimate in a Bloomberg survey.

EUR / USD: during the Asian session the pair fell to $ 1.3310

GBP / USD: during the Asian session, the pair is trading around $ 1.5530

USD / JPY: during the Asian session the pair is trading around Y97.70

A very light domestic calendar today with focus later on US Q2 GDP second reading, weekly jobless claims.