Foreign exchange market. Asian session: the yen advanced

Economic calendar (GMT0):

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

00:00 New Zealand ANZ Business Confidence November 10.5 14.6

00:30 Australia Company Gross Profits QoQ Quarter III -0.5% Revised From -1.9% 1.0% 1.3%

00:30 Australia Private Sector Credit, m/m October 0.7% Revised From 0.8% 0.6% 0.7%

05:00 Japan Construction Orders, y/y October 6.7% -25.2%

05:00 Japan Housing Starts, y/y October 2.6% 2.9% -2.5%

07:00 Germany Retail sales, real adjusted October 0.0% 0.4% -0.4%

07:00 Germany Retail sales, real unadjusted, y/y October 3.4% 2.9% 2.1%

The euro declined against the U.S. dollar ahead of an ECB meeting scheduled for Thursday. Many investors expect the bank to decide to expand its quantitative easing program. Speaking earlier at a European Banking Congress in Frankfurt ECB President Maria Draghi said that at the next meeting the central bank will assess the degree of stability of factors, which hold back inflation. He added if the 2% inflation target was at risk the central bank would use all tools available to support it.

The yen climbed against the greenback amid the latest data. Japan retail sales rose by 1.1% in October exceeding the 0.8% gain reported previously.

The Australian dollar fell on inflation data at the beginning of the session; however it partly recovered later. TD Securities reported that consumer prices rose by 0.1% in November compared to the 0% change in October. The Reserve Bank of Australia's target inflation range is 2%-3%. This means the consumer price index is still way below the desired level.

The New Zealand dollar climbed on business confidence data from ANZ. The corresponding index rose to a six-month high of 14.6 in November from 10.5 reported previously.

EUR/USD: the pair declined to $1.0570 in Asian trade

USD/JPY: the pair fell to Y122.60

GBP/USD: the pair fell to $1.5015

The most important news that are expected (GMT0):

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

08:00 Switzerland KOF Leading Indicator November 99.8 100.2

09:30 United Kingdom Consumer credit, mln October 1261 1300

09:30 United Kingdom Mortgage Approvals October 68.87 70

09:30 United Kingdom Net Lending to Individuals, bln October 4.85

13:00 Germany CPI, m/m (Preliminary) November 0.0% 0.1%

13:00 Germany CPI, y/y (Preliminary) November 0.3% 0.4%

13:30 Canada Current Account, bln Quarter III -17.4 -15.15

14:45 U.S. Chicago Purchasing Managers' Index November 56.2 54

15:00 U.S. Pending Home Sales (MoM) October -2.3% 1.5%

22:30 Australia AIG Manufacturing Index November 50.2

23:50 Japan Capital Spending Quarter III 5.6%