Foreign exchange market. Asian session: the euro gained

Economic calendar (GMT0):

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

01:45 China Markit/Caixin Manufacturing PMI (Preliminary) August 47.8 47.7 47.1

06:00 Germany Gfk Consumer Confidence Survey September 10.1 10.1 9.9

The yen and the euro rose against the U.S. dollar as investors continued revising forecasts for an increase in Federal Reserve's interest rates. The minutes of July meeting showed that the central bank had not come closer to a liftoff in rates, which was expected in September. Investors revised their expectations after China unexpectedly devalued the yuan harming risky assets including commodity currencies and currencies of developing countries. This move intensified concerns over China's economic growth and global inflation. A weaker outlook for the global economy also lowered chances of monetary policy tightening in the U.S.

The Australian dollar fell to yesterday's low amid disappointing data on Australia's key trading partner China. The flash China Manufacturing PMI came in at 47.1 in August compared to July final reading of 47.8. The index missed analysts' expectations for a modest decline to 47.7.

EUR/USD: the pair rose to $1.1290 in Asian trade

USD/JPY: the pair fell to Y122.80

GBP/USD: the pair traded within $1.5680-95

The most important news that are expected (GMT0):

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

07:00 France Services PMI (Preliminary) August 52 52

07:00 France Manufacturing PMI (Preliminary) August 49.6 49.7

07:30 Germany Services PMI (Preliminary) August 53.8 53.9

07:30 Germany Manufacturing PMI (Preliminary) August 51.8 51.7

08:00 Eurozone Manufacturing PMI (Preliminary) August 52.4 52.2

08:00 Eurozone Services PMI (Preliminary) August 54 54

08:30 United Kingdom PSNB, bln July -8.58 2.4

12:30 Canada Retail Sales, m/m June 1.0% 0.2%

12:30 Canada Retail Sales YoY June 2.7%

12:30 Canada Retail Sales ex Autos, m/m June 0.9% 0.5%

12:30 Canada Consumer Price Index m / m July 0.2% 0.1%

12:30 Canada Consumer price index, y/y July 1% 1.4%

12:30 Canada Bank of Canada Consumer Price Index Core, y/y July 2.3% 2.4%

13:45 U.S. Manufacturing PMI (Preliminary) August 53.8 54

14:00 Eurozone Consumer Confidence (Preliminary) August -7.1 -6.9