Foreign exchange market. Asian session: the yen rose

Economic calendar (GMT0):

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

00:00 Australia Conference Board Australia Leading Index July -0.3% Revised From -0.2% 0.3%

01:30 Australia RBA Financial Stability Review

01:45 China Markit/Caixin Manufacturing PMI (Preliminary) September 47.3 47.5 47.0

The yen advanced against the U.S. dollar amid growing demand for this safe-haven currency due to declines in Asian stocks and weak data from China. Concerns over economic growth of the biggest consumer of commodities weigh on global markets. A preliminary report from Markit Economics and Caixin Media showed on Wednesday that China's manufacturing sector had fallen to a six-and-a-half-year low of 47.0 in September. Economists had expected a 47.5 reading after 47.3 reported previously. A reading below 50 suggests contraction. The Australian and New Zealand dollars fell amid this report as China is a key trading partner of these countries.

Meanwhile the dollar continued to weigh on the euro and the pound amid hawkish statements by several Fed officials. Earlier this week three policy makers said they expected a rate hike by the end of the current year.

EUR/USD: the pair fluctuated within $1.1105-35 in Asian trade

USD/JPY: the pair fell to Y119.65

GBP/USD: the pair fell to $1.5335

The most important news that are expected (GMT0):

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

06:45 France GDP, Y/Y (Finally) Quarter II 0.8% 1.0%

06:45 France GDP, q/q (Finally) Quarter II 0.6% 0.0%

07:00 France Services PMI (Preliminary) September 50.6 51

07:00 France Manufacturing PMI (Preliminary) September 48.3 48.5

07:30 Germany Services PMI (Preliminary) September 54.9 54.6

07:30 Germany Manufacturing PMI (Preliminary) September 53.3 52.8

08:00 Eurozone Services PMI (Preliminary) September 54.4 54.2

08:00 Eurozone Manufacturing PMI (Preliminary) September 52.3 52

11:00 U.S. MBA Mortgage Applications September -7%

12:30 Canada Retail Sales, m/m July 0.6% 0.5%

12:30 Canada Retail Sales YoY July 1.4%

12:30 Canada Retail Sales ex Autos, m/m July 0.8% 0.4%

13:00 Eurozone ECB President Mario Draghi Speaks

13:00 Switzerland SNB Quarterly Bulletin

13:45 U.S. Manufacturing PMI (Preliminary) September 53 53

14:30 U.S. Crude Oil Inventories September -2.104 -1.5

16:00 United Kingdom MPC Member Dr Ben Broadbent Speaks

16:30 U.S. FOMC Member Dennis Lockhart Speaks

22:45 New Zealand Trade Balance, mln August -649 -850