01:30 Australia Gross Domestic Product (QoQ) Quarter II +0.6% +0.6% +0.6%

01:30 Australia Gross Domestic Product (YoY) Quarter II +2.5% +2.5% +2.6%

01:45 China HSBC Services PMI August 51.3 52.8

The dollar traded 0.2 percent from a six-week high against the euro amid signs the U.S. economic recovery is gaining traction, adding to the case for the Federal Reserve to scale back stimulus this month.

The Bloomberg U.S. Dollar Index was near the highest since July before the Fed releases its outlook survey known as the Beige Book, while data later this week may show August payrolls rose by 180,000. The Institute for Supply Management’s manufacturing index increased to 55.7 last month, the highest since June 2011, the Tempe, Arizona-based group reported yesterday.

Australia’s currency climbed against its major peers after the nation’s economic growth quickened. In Australia, second-quarter gross domestic product grew 0.6 percent from the previous three-month period, when it expanded a revised 0.5 percent, government data showed today.

The pound was near a three-month high against the euro. Markit Economics and the Chartered Institute of Purchasing and Supply said yesterday a gauge of U.K. construction increased in August.

EUR / USD: during the Asian session the traded in the range of $ 1.3160-75

GBP / USD: during the Asian session, the pair traded in the range of $ 1.5555-75

USD / JPY: during the Asian session the pair traded in the range of Y99.40-75

There is a very full calendar on both sides of the Atlantic Wednesday, kicking off with the release of French PPI data at 0645GMT. The European final August services PMI start from 0713GMT when Spanish numbers cross the wires. Italian numbers are released at 0743GMT, French numbers at 0748GMT and German data at 0753GMT. The amalgamated euro area data will be released at 0758GMT, with analysts looking for the numbers to confirm the uptick in the economy. At 0855GMT, ECB Executive Board member Joerg Asmussen will speak at the Handelsblatt Jahrestagung "Banken im Umbruch", in Frankfurt am Main. Further eurozone data is expected from 0900GMT, when the July retail sales data and  the second quarter 2nd revision numbers are set for release. At 1030GMT, the EU Internal Markets Commissioner Michel Barnier is set to present a proposal on regulating the shadow banking sector, in Belgium. As the Obama Administration ups the effort on Capitol Hill on Syria, President Obama visits Sweden on route to the G20 meeting in St Petersburg. The US calendar gets underway from 1100GMT, when the MBA mortgage index for the 30 August week will be released. At 1130GMT, the August Challenger Layoffs data will cross the wires, to be followed at 1145GMT by the ICSC-Goldman Store Sales for the Aug 31 week. At 1230GMT, the US July International merchandise trade numbers will cross the wires. Also due at 1230GMT is the Canadian trade numbers. The US Redbook Average for the Aug 31 week will be released at 1255GMT. Bundesbank Board member Andreas Dombret is set to give a speech on "New regulatory requirements: necessity or over- regulation?" in Frankfurt am Main, expected at 1300GMT. The Aug ISM-NY Business Index will be released at 1345GMT. At 1400GMT, the Bank of Canada rate announcement will be released at 1400GMT, with no change expected in policy. US data will be released at 1400GMT and includes the second quarter services Index and the August online help wanted index. San Francisco Federal Reserve Bank President John Williams will deliver a speech on the economy and monetary policy in Portland, Oregon, starting at 1630GMT. The last US release of the day is the Beige Book, expected at 1800GMT. Last up, at midnight, Minneapolis Federal Reserve Bank Narayana Kocherlakota takes place in a town hall forum in La Crosse, Wisconsin.