Economic calendar (GMT0):
Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual
00:00 Australia HIA New Home Sales, m/m November -3.0% -2.7%
00:00 Australia Consumer Inflation Expectation January 4.0% 3.6%
The yen recovered in the second half of the Asian session as higher volatility in stocks increased demand for safe-haven assets.
At the beginning of the session the yen declined against the U.S. dollar after Prime Minister Abe's advisor said there was ground for further monetary policy easing. He added that lack of action from the central bank can contradict basic principles of abenomics.
Market participants are waiting for today's European Central Bank meeting to find hints to further steps to stimulate inflation. The global economic outlook has worsened since the latest ECB meeting in December. Stocks and commodities plunged, concerns over the Chinese economy intensified. Economists believe the euro zone consumer price index may turn negative. Investors hope that authorities will take steps to support inflation.
EUR/USD: the pair fluctuated within $1.0865-00 in Asian trade
USD/JPY: the pair traded around Y117.00
GBP/USD: the pair traded within $1.4170-00
The most important news that are expected (GMT0):
(time / country / index / period / previous value / forecast)
09:00 Switzerland World Economic Forum Annual Meetings
12:45 Eurozone ECB Interest Rate Decision 0.05% 0.05%
13:30 Eurozone ECB Press Conference
13:30 U.S. Continuing Jobless Claims January 2263 2248
13:30 U.S. Initial Jobless Claims January 284 278
15:00 Eurozone Consumer Confidence (Preliminary) January -5.7 -5.7
15:00 U.S. Philadelphia Fed Manufacturing Survey January -10.2 -5
16:00 U.S. Crude Oil Inventories January 0.234 2.750