Foreign exchange market. Asian session: the Australian dollar dropped against the U.S. dollar after the weak labour market data from Australia

Economic calendar (GMT0):

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

01:30 Australia Unemployment rate July 6.0% 6.0% 6.4%

01:30 Australia Changing the number of employed July 14.9 13.5 -0.3

05:45 Switzerland SECO Consumer Climate Quarter II 1 4 -1

06:00 Germany Industrial Production s.a. (MoM) June -1.7% Revised From -1.8% +1.4% +0.3%

06:00 Germany Industrial Production (YoY) June +1.1% Revised From +1.3% -0.5%

06:45 France Trade Balance, bln June -5.1 Revised From -4.9 -5.0 -5.4

07:00 Switzerland Foreign Currency Reserves July 449.6 453.4

The U.S. dollar traded higher against the most major currencies. The U.S. currency was supported by yesterday's U.S. trade data. The U.S. trade deficit declined to $41.5 billion in June from a deficit of $44.7 billion in May, beating expectations for a decrease to $44.2 billion. May's figure was revised down from a deficit of $44.4 billion.

The New Zealand dollar traded slightly lower against the U.S dollar in the absence of any major economic reports in New Zealand.

The Australian dollar dropped against the U.S. dollar after the weak labour market data from Australia. The number of employed people in Australia declined by 300 in July, missing expectations for a rise of 13,500, after an increase of 14,900 in June. June's figure was revised down from a 15,900 rise.

Australia's unemployment rate climbed to 6.4% in July from 6.0% in June. Analysts had expected the unemployment rate to remain unchanged.

The Australian Industry Group/Housing Industry Association Australian performance of construction index rose to 52.6 in July from 51.8 in June.

The Japanese yen declined against the U.S. dollar after Reuters reported today that Japan's Government Pension Investment Fund (GPIF) plans to buy more domestic stocks. GPIF's target is over 20% of funds in domestic stocks (current target: 12%).

No major economic reports were released in Japan.

EUR/USD: the currency pair declined to $1.3379

GBP/USD: the currency pair decreased to $1.6841

USD/JPY: the currency pair climbed to Y102.45

AUD/USD: the currency pair was down to $0.9261

The most important news that are expected (GMT0):

11:00 United Kingdom Asset Purchase Facility 375 375

11:00 United Kingdom BoE Interest Rate Decision 0.50% 0.50%

11:00 United Kingdom MPC Rate Statement

11:45 Eurozone ECB Interest Rate Decision 0.15% 0.15%

12:30 Eurozone ECB Press Conference

12:30 Canada Building Permits (MoM) June +13.8% -1.8%

12:30 U.S. Initial Jobless Claims July 302 305

14:00 Canada Ivey Purchasing Managers Index July 46.9 54.1

23:50 Japan Current Account (adjusted), bln June 384.6 110.0