Foreign exchange market. Asian session: the yen advanced

Economic calendar (GMT0):

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

00:05 United Kingdom Gfk Consumer Confidence November 2 2 1

07:00 United Kingdom Nationwide house price index, y/y November 3.9% 4.2% 3.7%

07:00 United Kingdom Nationwide house price index November 0.6% 0.5% 0.1%

The yen advanced against the U.S. dollar after the release of mixed macroeconomic data from Japan. The core consumer price index declined by 0.1% y/y in line with expectations (mostly because of lower energy costs). This is the third months of declines in a row. The unemployment rate came in at 3.1% in October compared to 3.4% in September. Economists had expected the index to remain unchanged.

Meanwhile household spending fell by 2.4% y/y in October as consumers spent less on clothing, health care and education. Economists expect consumption to remain weak as employers are not ready to raise wages significantly. Earlier the Bank of Japan said that higher wages were needed to accelerate inflation in the country.

Japanese Economy Minister Akira Amari told reporters on Friday that the unexpected decline in household spending shows that many consumers lack confidence.

EUR/USD: the pair fluctuated within $1.0600-15 in Asian trade

USD/JPY: the pair traded within Y122.50-75

GBP/USD: the pair traded within $1.5085-05

The most important news that are expected (GMT0):

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

09:30 United Kingdom Business Investment, q/q Quarter III 1.6% 1.5%

09:30 United Kingdom Business Investment, y/y Quarter III 3.1%

09:30 United Kingdom GDP, y/y (Revised) Quarter III 2.4% 2.3%

09:30 United Kingdom GDP, q/q (Revised) Quarter III 0.7% 0.5%

10:00 Eurozone Consumer Confidence (Finally) November -7.6 -7.7

10:00 Eurozone Business climate indicator November 0.44 0.45

10:00 Eurozone Industrial confidence November -2 -2.1

10:00 Eurozone Economic sentiment index November 105.9 105.9

12:00 Germany Gfk Consumer Confidence Survey December 9.4 9.2

13:30 Canada Industrial Product Price Index, m/m October -0.3% -0.1%

13:30 Canada Industrial Product Price Index, y/y October -0.4%