Economic calendar (GMT0):

Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

00:30 Australia Changing the number of employed December 75.0 Revised From 71.4 -12.5 -1.0

00:30 Australia Unemployment rate December 5.8% 5.9% 5.8%

06:00 Japan Prelim Machine Tool Orders, y/y December -17.9% -25.8%

The U.S. dollar declined slightly against the yen reaching yesterday's low as risk sentiment declined amid concerns over China's economy and oil prices. IG Securities said that it's too early to say that risk sentiment declined based only on trade data. Market participants will closely watch data from China, including GDP, industrial production and retail sales reports due on January 19.

Nevertheless the yen is under pressure because of weak core machinery orders data. Core machinery orders fell by 14.4% in November compared to a 10.7% rise reported previously. Orders fell as weak global economic growth weighed on business confidence in Japan.

The Australian dollar declined slightly amid domestic labor market data. The unemployment rate remained unchanged at 5.8% in December on a seasonally adjusted basis. Economists had expected the index to have advanced to 5.9%. The AUD rebounded later on.

EUR/USD: the pair declined to $1.0861 in Asian trade

USD/JPY: the pair rose to Y117.95

GBP/USD: the pair edged up to $1.4412

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

12:00 United Kingdom BoE Interest Rate Decision 0.5% 0.5%

12:00 United Kingdom Bank of England Minutes

12:00 United Kingdom Asset Purchase Facility 375 375

12:30 Eurozone ECB Monetary Policy Meeting Accounts

13:30 Canada New Housing Price Index, MoM November 0.3% 0.2%

13:30 U.S. Continuing Jobless Claims January 2230 2215

13:30 U.S. Import Price Index December -0.4% -1.4%

13:30 U.S. Initial Jobless Claims January 277 275

13:30 U.S. FOMC Member James Bullard Speaks