Data:

08:00 Switzerland KOF Leading Indicator January 0.01 -0.06 -0.17

The euro strengthened after borrowing costs fell at an Italian bill sale, boosting optimism the region’s debt crisis is easing.

The common currency headed for a second weekly gain versus the dollar and yen after European Union Economic and Monetary Affairs Commissioner Olli Rehn said Greece was “close” to reaching agreement with its creditors over a debt swap.

The dollar weakened before a U.S. report that economists said will show economic growth accelerated, supporting demand for higher-yielding assets.

EUR/USD: the pair has grown in $1,3150 area.

GBP/USD: the pair has grown above $1,5700.

USD/JPY: the pair has fallen below Y77.00.

US data starts at 1300GMT with the latest Building Permits Revision. US data continues at 1330GMT with Q4 GDP. Then, at 1455GMT, the Michigan Sentiment Index is expected to be unrevised from the 74.0 preliminary estimate. At 1500GMT, New York Fed President William Dudley delivers a regional economic press briefing on recession, federal stimulus and regional schools.