Foreign exchange market. Asian session: the euro little changed

Economic calendar (GMT0):

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

05:00 Japan BoJ monthly economic report

05:00 Japan Consumer Confidence July 41.7 40.3

The euro little changed. Euro zone GDP report will be published this week. Data are likely to show that modest growth persisted. Median forecast suggests a 0.4% growth rate in the second quarter (just like in the first quarter). Meanwhile analysts also say that growth has probably slowed in France and Italy, which would underline uneven recovery in the single currency area, where Germany leads compared to other economies.

The yen weakened against the U.S. dollar after its Friday rally. Data showed that Japan Current account growth has persisted for 12 months and came in at ¥558.6 billion. The indicator has overcome its level seen before the 2011 catastrophe for the first time. This fact suggests substantial volumes of capital inflows from overseas.

The Australian dollar slightly declined against the greenback amid China data. China consumer price index came in at 1.6% y/y in July vs expectations for a 1.5% reading. Inflation growth has advanced compared to +1.4% in June, but it's well below the 3% threshold set by the government for this year. In 2014 the index posted 2%.

EUR/USD: the pair traded within $1.0950-75 in Asian trade

USD/JPY: the pair rose to Y124.40

GBP/USD: the pair traded within $1.5475-95

The most important news that are expected (GMT0):

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

08:00 Eurozone Sentix Investor Confidence July 18.5

11:15 U.S. FED Vice Chairman Stanley Fischer Speaks

13:00 U.S. FOMC Member Dennis Lockhart Speaks

14:00 U.S. Labor Market Conditions Index July 0.8

16:25 U.S. FOMC Member Dennis Lockhart Speaks