Japan’s currency retreated versus the dollar before data which may confirm the economy shrank, adding weight to stimulus calls from the front-runner to become the next prime minister at elections this month. A final reading on Japan’s third-quarter gross domestic product will probably confirm a 0.9 percent contraction from the previous three-month period, according to the median estimate of economists surveyed by Bloomberg News before the data due on Dec. 10. A separate poll shows economists expect GDP will shrink in the current quarter. The BOJ sets policy on Dec. 19-20.

Demand for the euro was limited before a report which may add to signs of slowdown in Europe’s economy. German industrial production probably stagnated in October from the previous month, when it declined 1.8 percent, according to the median estimate of economists estimate before the data today.

The European Union’s statistics office said yesterday that GDP in the euro area fell 0.1 percent in the third quarter from the previous three months, when it dropped 0.2 percent. That confirmed an initial estimate last month.

ECB President Mario Draghi said yesterday the euro-area economy is forecast to shrink 0.5 percent this year, more than the 0.4 percent contraction the central bank predicted in September.

The Australian dollar was set for a five-day advance before Chinese data next week that may show growth picking up at the South Pacific nation’s biggest trading partner. China’s industrial production probably rose 9.8 percent in November from a year earlier, the fastest pace since March, a Bloomberg survey of economists showed. Retail sales are forecast to have increased 14.6 percent last month, compared with a 14.5 percent gain in October. The National Bureau of Statistics is due to release the figures on Dec. 9.

EUR/USD: during the Asian session, the pair traded in the range of $ 1.2955-75.

GBP/USD: during the Asian session, the pair traded in the range of $ 1.6035-55.

USD/JPY: during the Asian session, the pair traded in the range of Y82.35-55.