Foreign exchange market. Asian session: the yen advanced

Economic calendar (GMT0):

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

01:00 New Zealand ANZ Business Confidence July -2.3 -15.3

01:30 Australia Producer price index, q / q Quarter II 0.5% 0.3%

01:30 Australia Producer price index, y/y Quarter II 0.7% 1.1%

01:30 Australia Private Sector Credit, m/m June 0.5% 0.5% 0.4%

01:30 Australia Private Sector Credit, y/y June 6.2% 5.9%

05:00 Japan Construction Orders, y/y June -7.4% 15.4%

05:00 Japan Housing Starts, y/y June 5.8% 2.9% 16.3%

06:00 Germany Retail sales, real adjusted June 0.4% Revised From 0.5% 0.3% -2.3%

06:00 Germany Retail sales, real unadjusted, y/y June -1.0% Revised From -0.4% 5.1%

The euro advanced slightly in Asian trade, although the International Monetary Fund refused to provide new loans for Greece because of its debts. Probably the IMF will not discuss a third bailout program for Greece before the beginning of 2016. This questions the fund's participation in the EU's aid program. Earlier several German politicians said that Bundestag will not even vote on the €86 billion program without the IMF taking part in it.

The yen rose on favorable inflation data. The Ministry of Internal Affairs and Communications reported that the consumer price index excluding fresh food rose by 0.1% in June vs 0.0% expected.

The New Zealand dollar fell amid weak business confidence data from ANZ. The corresponding index posted -15.3 in July compared to -2.3 reported earlier. The bank noted that dairy prices remained low and that the situation might get worse.

EUR/USD: the pair rose to $1.0950 in Asian trade

USD/JPY: the pair fell to Y123.90

GBP/USD: the pair traded around $1.5590-10

The most important news that are expected (GMT0):

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

09:00 Eurozone Unemployment Rate June 11.1% 11.1%

09:00 Eurozone Harmonized CPI ex EFAT, Y/Y (Preliminary) July 0.8% 0.8%

09:00 Eurozone Harmonized CPI, Y/Y (Preliminary) July 0.2% 0.2%

11:00 Russia Bank of Russia intrest rate desision 11.50% 11.00%

12:30 Canada GDP (m/m) May -0.1% 0.0%

12:30 U.S. Employment Cost Index Quarter II 0.7%

13:45 U.S. Chicago Purchasing Managers' Index July 49.4 50.5

14:00 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) July 96.1 94