00:00 China Bank holiday -

03:00 Japan BoJ Interest Rate Decision - 0.10% 0.10% 0.10%

03:00 Japan BoJ Monetary Policy Statement -

06:00 Japan BOJ Press Conference -

The yen halted a two-day advance as investors overlooked the Bank of Japan’s decision to keep its asset purchases unchanged and speculated the central bank will add stimulus next month as the nation’s economy slows. The yen fell after former BOJ Deputy Governor Kazumasa Iwata, a potential candidate to become the next central bank head, signaled the currency has scope to depreciate further.

Data showed today Japan’s gross domestic product unexpectedly shrank in the fourth quarter. Gross domestic product contracted an annualized 0.4 percent, following a revised 3.8 percent fall in the previous quarter, the Cabinet Office said in Tokyo today. The median forecast of 32 economists surveyed by Bloomberg News was for 0.4 percent growth. Nominal GDP shrank 0.4 percent on quarter.

New Zealand’s dollar, nicknamed the kiwi, rose for a third day after figures showed the nation’s manufacturing industry grew at the fastest pace since May. New Zealand’s PMI increased to 55.2 in January from a revised 50.4 in December, Business New Zealand and the Bank of New Zealand Ltd. said in a statement released in Wellington. A reading over 50 signifies expansion.

EUR/USD: during the Asian session, the pair traded in the range of $1.3440-50.

GBP/USD: during the Asian session the pair fell updating week’s low.

USD/JPY: during the Asian session, the pair rose to Y93.60.

The data calendar gets underway early Thursday, with the release of the French fourth quarter flash GDP data. There is further French data at 0730GMT, with the release of the January BoF retail survey. Also at 0900GMT, the ECB is set to release its latest monthly report, which is unlikely to vary much from President Draghi's opening statement at the recent press conference. Following The release of national GDP data, the overall EMU Q4 numbers are set for release at 1000GMT. At 1100GMT, the European Commission is set to present proposals for a tax on financial transactions in 11 EU member states.