Asian session: The dollar headed

00:00 Australia Consumer Inflation Expectation February +2.3% +2.3%

00:01 United Kingdom RICS House Price Balance January 56% 59% 53%

00:30 Australia Unemployment rate January 5.8% 5.9% 6.0%

00:30 Australia Changing the number of employed January -23.0 Revised From -22.6 15.3 -3.7

01:25 Australia RBA Assist Gov Debelle Speaks

The dollar headed for its biggest drop in more than a week versus the yen before a report today forecast to show U.S. retail sales stalled. U.S. retail sales stagnated in January, according to the median estimate of economists surveyed by Bloomberg News before the U.S. Commerce Department reports the data today. That follows a 0.2 percent gain the month before, when winter clothing sales increased while auto demand dropped owing to the harsh weather.

The yen strengthened versus its most-traded counterparts as declines in Asian equities boosted demand for the perceived safety of Japan’s currency.

Australia’s dollar fell as much as 1.1 percent versus the greenback after the government said unemployment jumped to a 10-year high. In Australia, employment unexpectedly shrank by 3,700 last month. Economists polled by Bloomberg forecast a 15,000 gain. The jobless rate rose to 6 percent, the highest since July 2003, according to a Bloomberg economist poll.

Federal Reserve Chair Janet Yellen’s testimony to the Senate Banking Committee, scheduled for today, will be postponed because of a storm forecast to dump heavy snow on the U.S. East Coast. The latest storm has left thousands without electricity across the U.S. South, snarled ground and air traffic from Atlanta to New York, and spurred weather alerts from Louisiana to Maine. Washington may get 8 inches (20 centimeters) of snow, according to the National Weather Service.

EUR / USD: during the Asian session, the pair rose to $ 1.3615

GBP / USD: during the Asian session, the pair rose to $ 1.6625

USD / JPY: on Asian session the pair fell to Y102.05

A somewhat slower calendar in Europe Thursday, although there is some important data on the schedule in the US. The European calendar starts at 0700GMT, when the German January final HICP numbers are set to be published. At 0830GMT, Dutch December retail sales numbers and the January HICP numbers will be released. Also due at 0830GMT is the latest interest rate from Sweden's Riksbank. The ECB will release the February monthly report at 0900GMT, although it is expected to mirror ECB President Mario Draghi's opening statement at the recent press conference. ECB borad member Benoit Coeure speaks in Brussels at 1000GMT. On Thursday, Italy conducts its regular mid-month medium-long auctions - 1 day ahead of Moody's review of Italy's sovereign rating.