Economic calendar (GMT0):

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

06:00 Germany CPI, m/m (Finally) July -0.1% 0.2% 0.2%

06:00 Germany CPI, y/y (Finally) July 0.3% 0.2% 0.2%

The euro fluctuated only slightly against the U.S. dollar despite further 1.1% devaluation of the yuan. Markets calmed down and such actions are now considered a part of currency reforms in the country before Chinese president visits the U.S. in September. It's worth noting that the yuan trades with a significant discount in Hong Kong compared to mainland China reflecting investors' pessimism about China's economy.

The yen fell against the greenback amid core machinery orders data (-7.9% m/m in June vs -5.6% expected). A report on new orders reflects general volume of machinery orders placed in big Japanese companies. A negative reading suggests slower growth.

EUR/USD: the pair fluctuated around $1.1155 in Asian trade

USD/JPY: the pair rose to Y125.45

GBP/USD: the pair traded within $1.5605-35

The most important news that are expected (GMT0):

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

06:45 France CPI, m/m July -0.1%

06:45 France CPI, y/y July 0.3%

07:15 Switzerland Producer & Import Prices, m/m July -0.1%

07:15 Switzerland Producer & Import Prices, y/y July -6.1%

11:30 Eurozone ECB Monetary Policy Meeting Accounts

12:30 Canada New Housing Price Index, MoM June 0.2% 0.1%

12:30 U.S. Initial Jobless Claims August 270 270

12:30 U.S. Continuing Jobless Claims August 2255 2247

12:30 U.S. Retail sales July -0.3% 0.5%

12:30 U.S. Retail sales excluding auto August -0.1% 0.4%

14:00 U.S. Business inventories June 0.3% 0.3%

22:45 New Zealand Retail Sales YoY Quarter II 7.4% 5.2%

22:45 New Zealand Retail Sales, q/q Quarter II 2.7% 0.5%