Foreign exchange market. Asian session: the yen advanced

Economic calendar (GMT0):

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

06:00 Germany Gfk Consumer Confidence Survey August 10.1 10.1 10.1

06:00 Switzerland UBS Consumption Indicator June 1.62 Revised From 1.73 2.5 1.68

06:45 France Consumer confidence July 94 94 93

The euro slightly advanced against the dollar ahead of the result of the Fed meeting. Hints on a rate increase in the near future would attract those investors searching for a higher yield to the dollar. Analysts surveyed by Bloomberg believe that this meeting might be the last one with no important statements. This time the Federal Reserve will not update its macroeconomic forecasts and Fed Chair Yellen will not hold a conference. Thus meeting minutes will be the only source of information about policymakers' mood and intentions.

The yen advanced amid positive retail sales data. The corresponding index rose by 0.9% in June beating analysts' expectations for a 0.5% rise. Sales rose by 0.3% during the same period last year. This is the third straight monthly increase. Total retail sales rose despite a 10.7% drop in sales of fuel. Cars, pharmaceuticals and cosmetics led the gains.

EUR/USD: the pair rose to $1.1085 in Asian trade

USD/JPY: the pair fell to Y123.30

GBP/USD: the pair traded around $1.5605-15

The most important news that are expected (GMT0):

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

08:30 United Kingdom Mortgage Approvals June 64.83 Revised From 64.43 66

08:30 United Kingdom Consumer credit, mln June 1057 Revised From 1001 1100

08:30 United Kingdom Net Lending to Individuals, bln June 3.5 Revised From 3.1

11:00 U.S. MBA Mortgage Applications July 0.1%

14:00 U.S. Pending Home Sales (MoM) June 0.9% 1.0%

14:30 U.S. Crude Oil Inventories July 2.468 -1

18:00 U.S. Fed Interest Rate Decision 0.25% 0.25%

18:00 U.S. FOMC Statement

22:45 New Zealand Building Permits, m/m June 0.0% 2.5%

23:50 Japan Industrial Production (MoM) (Preliminary) June -2.1% 0.3%

23:50 Japan Industrial Production (YoY) (Preliminary) June -3.9%