Data:
01:30    Australia Retail Sales s.a. (MoM) (Mar)     -0.5%    
01:30    Australia Building Permits (YoY) (Mar)     -18.1%    
01:30    Australia Building Permits (MoM) (Mar)     9.1%

The euro rose toward a 17-month high versus the dollar on speculation European Central Bank President Jean-Claude Trichet will signal at today’s policy meeting he intends to raise interest rates this year to combat inflation.
The single currency snapped a two-day decline versus the yen before a German report that economists said will factory orders rose for a third month, adding to signs European growth is picking up.
Australia’s dollar fell for a fourth day after a government report showed retail sales unexpectedly declined in March.
German factory orders, adjusted for seasonal swings and inflation, gained 0.4 percent in March from February when they rose 2.4 percent, according to a  survey ahead of today’s data.

EUR/USD: the pair grown in around $1.4870.

GBP/USD: the pair grown in around $1.6530.

USD/JPY: the pair decreased in around Y80.30.

European data - at 1000GMT German manufacturing orders. The ECB decision at 1145GMT.
In the UK, local elections take place alongside the AV Referendum. UK data includes the April Services PMI at 0830GMT, which is expected to slip to a reading of 55.5 from 57.1 last month. BoE decision at 1100 GMT.
US data also comes at 1230GMT, when initial jobless claims are  expected to fall 19,000 to 410,000 in the April 30 week after rising sharply in the previous week. At the same time, non-farm productivity is expected to slow to a 1.5% increase in the first quarter, as GDP growth was much slower than in the previous quarter. Unit labor costs are expected to rebound 0.8% as a result. At 1330GMT, Fed Chairman Ben Bernanke delivers a speech to the Chicago Fed's Annual Conference on Bank Structure and Competition.