Asian session: The euro fell

00:30 Australia Home Loans September +2.2%

02:00 China CPI y/y October +5.5%

02:00 China PPI y/y October +5.0%

02:00 China Industrial Production y/y October +13.2%

05:00 Japan Eco Watchers Survey: Current October 45.9

05:00 Japan Eco Watchers Survey: Outlook October 45.9

The euro traded near its highest level this week against the greenback after Italy’s Prime Minister Silvio Berlusconi offered to quit, spurring optimism a new leader may be better able to tame the nation’s debt crisis.

The yen advanced against the majority of its most-traded peers as concern waned that the Bank of Japan will act to weaken the currency.

The yen climbed to its strongest versus the dollar since Oct. 31, when Japan made what’s estimated to be its biggest currency-market intervention to curb gains.

Australia’s dollar fell against the yen for a fourth day before a report tomorrow forecast to show the country’s unemployment rate rose in October.

The New Zealand dollar slid versus most of their 16 major counterparts after growth slowed in China’s consumer prices and industrial production.

EUR/USD: on Asian session the pair fell.

GBP/USD: on Asian session the pair decreased.

USD/JPY: on Asian session the pair holds in range Y78.05-Y78.20.

On Wednesday UK data at 0930GMT includes the Trade Balance and also BOE Quoted Rates data. Despite turbulence in the euro zone, the UK's largest export market by far, the August trade data were surprisingly robust, with the global goods, and EU trade, deficits narrowing. US data starts at 1100GMT with the weekly MBA Mortgage Application Index. At 1430GMT, Fed Chairman Ben Bernanke gives welcoming remarks at the Fed's Small Business and Entrepreneurship conference in Washington. US data continues at 1500GMT with Wholesale Inventories and then at 1530GMT with the weekly EIA Crude Oil Stocks data. At 1715GMT, Fed Governor Daniel Tarullo delivers a speech on financial regulation at a Clearing House conference in New York.