Foreign exchange market. Asian session: the U.S. dollar gained

Economic calendar (GMT0):

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

01:30 Australia Retail Sales, M/M July 0.6% Revised From 0.7% 0.4% -0.1%

01:30 Australia Trade Balance July -3.05 Revised From -2.93 -3.1 -2.46

The U.S. dollar rose against major currencies and currencies of developing economies ahead of Friday's employment data. The dollar's strength suggests that market participants expect a strong report; this would raise probability of a rate increase by the Federal Reserve this month.

The euro traded against the greenback without a defined dynamics ahead of today's ECB meeting. Economists don't expect the central bank to make any new statements, but it may hint that the asset purchase program will be extended considering changes in global markets.

The Australian dollar fell amid retail sales data. Seasonally adjusted retail sales fell by 0.1% in Australia in July after a 0.6% increase in June, while analysts had expected a +0.4% reading. The Australian Bureau of Statistics has also reported today that the country's trade deficit declined to A$2460 million in July from -A$2933 million reported previously. The actual reading is much smaller than a deficit of A$3160 million expected by economists.

EUR/USD: the pair fluctuated within $1.1205-25 in Asian trade

USD/JPY: the pair traded within Y120.35-70

GBP/USD: the pair traded around $1.5300

The most important news that are expected (GMT0):

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

07:50 France Services PMI (Finally) August 52 51.8

07:55 Germany Services PMI (Finally) August 53.8 53.6

08:00 Eurozone Services PMI (Finally) August 54 54.3

08:30 United Kingdom Purchasing Manager Index Services August 57.4 57.6

09:00 Eurozone Retail Sales (MoM) July -0.6% 0.6%

09:00 Eurozone Retail Sales (YoY) July 1.2% 2%

11:45 Eurozone ECB Interest Rate Decision 0.05% 0.05%

12:30 Eurozone ECB Press Conference

12:30 Canada Trade balance, billions July -0.48 -1.3

12:30 U.S. Continuing Jobless Claims August 2269 2250

12:30 U.S. International Trade, bln July -43.84 -42.4

12:30 U.S. Initial Jobless Claims August 271 275

13:45 U.S. Services PMI (Finally) August 55.7 55.2

14:00 U.S. ISM Non-Manufacturing August 60.3 58.1