01:00 Japan Labor Cash Earnings, YoY May +0.3% +0.6% 0.0%

04:30 Australia Announcement of the RBA decision on the discount rate 2.75% 2.75% 2.75%

04:30 Australia RBA Rate Statement

The dollar was 0.6 percent from the highest level in almost a month against the euro as signs of improvement in the U.S. economy buoyed speculation the Federal Reserve will soon start scaling back asset purchases.

The greenback was supported before a report today that may show factory orders gained by the most in three months, and ahead of data this week forecast to indicate a decline in the unemployment rate as companies in the world's biggest economy continued to add jobs. The U.S. Commerce Department will probably say today orders placed with factories climbed 2 percent in May following a 1 percent gain in the previous month, according to the median estimate of economists surveyed by Bloomberg News. If confirmed, that would be the biggest advance since February. Companies in the U.S. added 160,000 workers last month after increasing positions by 135,000 in May, analysts in a separate poll predicted before a report tomorrow by the Roseland, New Jersey-based ADP Research Institute.

New York Fed President William C. Dudley is scheduled to speak on the economy later today in Stamford, Connecticut.

The Australian dollar weakened after an advance yesterday that was the biggest in two weeks before the Reserve Bank announces a policy decision today. RBA Governor Glenn Stevens and his board will probably keep the nation's benchmark interest rate at 2.75 percent at a meeting today, according to 25 of 28 economists polled by Bloomberg. There's a 20 percent chance officials will cut the rate to 2.5 percent, interest-rate swaps data compiled by Bloomberg show.

EUR / USD: during the Asian session the pair traded in the range of $ 1.3050/70

GBP / USD: during the Asian session the pair is trading around $ 1.5200

USD / JPY: during the Asian session the pair traded in the range of Y99.50/75

At 0700GMT, June's Spanish unemployment data is set for release, along with French Jun car registrations. At the same time, EU Economics and Monetary Affairs Commissioner Olli Rehn is slated to speak on the outcome of June's EU Council to European Parliament. ECB Governing Council member Christian Noyer will give a press conference on a report about credit card security, in Paris from 0800GMT. At 0900GMT, EMU May PPI numbers will be published. At 2100GMT, Bundesbank Board member Andreas Dombret speech at a Bundesbank event in New York.