Asian session: The dollar weakened
05:00 Japan Consumer Confidence Index (Jan) 41.1
05:00 Japan Consumer Confidence Households (Jan) 41.1
The dollar weakened for a third day against the euro before reports that economists said will show U.K. factory output increased and U.S. initial jobless claims fell, adding to signs the global economy is improving.
The yen fluctuated between losses and gains as Thomas Byrne, senior vice president at Moody’s Investors Service, said the outlook for Japan’s sovereign credit rating was stable.
Losses in the dollar were tempered before Federal Reserve Chairman Ben S. Bernanke testifies today at a hearing of the House Budget Committee.
EUR/USD: the pair become stronger in around $1.3650.
GBP/USD: the pair bargained within the limits of $1.6050-$ 1.6080.
USD/JPY: the pair bargained within the limits of Y82.20-Y82.50.
UK data includes trade and also the latest Bank of England Quoted Rates data. The trade data is expected to be steady at -stg8.7 billion in Global Goods with Total Trade at -stg4.0 billion.
US data starts at 1200GMT with the weekly MBA Mortgage Application Index. The main event is likely to be at 1500GMT,when Fed Chairman Ben Bernanke testifies before House Budget Committee on economic, employment and budget issues in Washington. US data continues at 1530GMT with the weekly EIA Crude Oil Stocks data.