Asian session: the yen and dollar rose against most major peers

00:30 Australia Unemployment rate November 5.2% 5.2% 5.3%  

00:30 Australia Changing the number of employed November 10.1K 10.6K -6.3%  

05:00 Japan Eco Watchers Survey: Current November 45.9 47.1 45.0  

05:00 Japan Eco Watchers Survey: Outlook November 45.9 44.7  

07:20 Australia RBA's Governor Glenn Stevens Speech

The yen and dollar rose against most major peers as Asian stocks declined amid signs of a slowdown in the region’s economies, boosting demand for refuge currencies.

Australia’s dollar slid against 14 of its 16 most-traded counterparts after a government report showed employers cut jobs for the first time in three months.

The euro snapped a decline against the Swiss franc before a European Central Bank meeting and a summit in Brussels to discuss the region’s problems.

The European Central Bank may announce a range of measures tomorrow to stimulate bank lending, according to three euro-area officials.

Canada’s dollar declined from the strongest level in a month as renewed concern Europe’s sovereign debt crisis will worsen spurred an increase in risk aversion among investors. Canada’s currency has been the fourth-best performer after the U.S. dollar, yen and pound over the past three months against the euro among the most-traded currencies, gaining 2.4 percent, as investors sought refuge from the prospect of a global recession.

EUR/USD: on Asian session the pair holds in range $1.3390-$1.3410.

GBP/USD: on Asian session the pair holds in range $1.5690-$1.5720.

USD/JPY: on Asian session  the pair fell.

On Thursday the Bank of England MPC makes it's announcement at 1200GMT but this meeting is expected to be a non-event. Analysts are expecting the BOE to press on with its current round of Stg75 billion of quantitative easing, which is scheduled to be completed ahead of the February MPC meeting. The ECB announces it's rate decision at 1245GMT with the usual press conference following on at 1330GMT. The ECB is likely to cut interest rates and launch further liquidity support measures this Thursday, but it should not be expected to unveil aggressive measures to help control the borrowing costs of Eurozone governments.