Economic calendar (GMT0):

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

00:30 Australia New Motor Vehicle Sales (YoY) January 2.4% Revised From 2.2% 5.1%

00:30 Australia New Motor Vehicle Sales (MoM) January -0.1% Revised From -0.5% 0.5%

02:00 China Trade Balance, bln January 60.09 58.85 62.15

02:00 China New Loans January 597.8 1800

04:30 Japan Tertiary Industry Index December -0.9% Revised From -0.8% -0.6%

04:30 Japan Industrial Production (MoM) (Finally) December -0.9% -1.7%

04:30 Japan Industrial Production (YoY) (Finally) 1.7% -1.9%

10:00 Eurozone Trade balance unadjusted December 23.6 24.3

12:00 U.S. Bank holiday

The U.S. dollar traded higher against the most major currencies in the absence of any major U.S. economic reports. The U.S. markets will be closed for a public holiday today.

The euro traded lower against the U.S. dollar despite the positive trade data from the Eurozone. Eurostat released its trade data for the Eurozone on Monday. Eurozone's unadjusted trade surplus increased to €24.3 billion in December from €23.6 billion in November.

Exports rose at an unadjusted annual rate of 3.0% in December, while imports increased 3.0%.

Eurozone's adjusted trade surplus declined to €21.0 billion in December from €22.6 billion in November.

Exports fell at an adjusted 0.3% in December, while imports increased 0.8%.

The European Central Bank (ECB) President Mario Draghi is scheduled to speak at 14:00 GMT.

The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K.

EUR/USD: the currency pair fell to $1.1177

GBP/USD: the currency pair declined to $1.4455

USD/JPY: the currency pair rose to Y114.15

The most important news that are expected (GMT0):

14:00 Eurozone ECB President Mario Draghi Speaks

21:45 New Zealand Retail Sales, q/q Quarter IV 1.6% 1.4%

21:45 New Zealand Retail Sales YoY Quarter IV 5.7% 5.2%