Economic calendar (GMT0):

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

00:30 Australia Leading Index June -0.1% 0.0%

01:30 Australia CPI, q/q Quarter II 0.2% 0.8% 0.7%

01:30 Australia CPI, y/y Quarter II 1.3% 1.7% 1.5%

01:30 Australia Trimmed Mean CPI q/q Quarter II 0.7% Revised From 0.6% 0.6%

01:30 Australia Trimmed Mean CPI y/y Quarter II 2.3% 2.2% 2.2%

03:05 Australia RBA's Governor Glenn Stevens Speech

04:30 Japan All Industry Activity Index, m/m May 0.1% -0.5%

The New Zealand dollar declined ahead of tomorrow's Reserve Bank of New Zealand meeting. Most economists expect the central bank to cut its benchmark rate to 3.0% because of the weakness of dairy trade.

The euro was muted after S&P rating agency raised Greece's rating to "CCC+" with stable outlook.

The Australian dollar declined after inflation data, which showed that the consumer price index rose by 0.7% in the second quarter, while economists had expected a +0.8% reading. The index rose by 0.2% in the first quarter. On an annualized basis inflation rose by 1.5% compared to 1.3% a year ago. Analysts expected a 1.7% increase. RBA's target inflation range is 2%-3%. Nevertheless the AUD advanced moderately after RBA Governor Glenn Stevens expressed optimism about the Australian economy.

EUR/USD: the pair traded around $1.0920-60 in Asian trade

USD/JPY: the pair fell to Y123.60

GBP/USD: the pair traded around $1.5550-75

The most important news that are expected (GMT0):

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

05:00 Japan Coincident Index (Finally) May 111 109.2

05:00 Japan Leading Economic Index (Finally) May 106.4 106.2

08:30 United Kingdom Bank of England Minutes

11:00 U.S. MBA Mortgage Applications July -1.9%

13:00 U.S. Housing Price Index, m/m May 0.3%

14:00 U.S. Existing Home Sales June 5.35 5.4

14:30 U.S. Crude Oil Inventories July -4.346 -2.0

21:00 New Zealand RBNZ Interest Rate Decision 3.25% 3.13%

21:00 New Zealand RBNZ Rate Statement

23:50 Japan Trade Balance Total, bln June -216.0 5.4