Foreign exchange market. Asian session: U.S. dollar trades stronger against major peers

07:00 United Kingdom Nationwide house price index December +0.3% +0.3% +0.2%

07:00 United Kingdom Nationwide house price index, y/y December +8.5% +7.7% +7.2%

The greenback traded stronger against its major peers, only losing against the Japanese yen. The euro dipped to a fresh two-year low amid concerns over Greece's political turmoil as the ruling coalition was not able to secure enough votes in the third and final run to elect Stavros Dimas president. Now snap elections will be held next month on January 25^th, where the left-wing Syriza party could win, putting the international bailout at risk.

The Australian dollar is trading lower during the Asian session. The aussie almost lost 9% so far in 2014. Falling commodity prices and concerns over China's economy, Australia's biggest trade partner, weigh on the currency.

New Zealand's dollar declined slightly against the greenback after yesterday's gains and is heading for a 5% decline in 2014 after trading close to its post-float high earlier in the year which led the central bank to intervene.

The Japanese yen traded slightly stronger above USD120 as Asian shares retreated, fuelling demand for a safe haven. On Saturday the Japanese Government approved a 3.5 Trillion Yen fiscal stimulus to strengthen its economy and restore the country's public finances. Since the end of 2011 the Japanese currency slid more than 36%

EUR/USD: the euro declined versus the greenback

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

09:00 Eurozone M3 money supply, adjusted y/y November +2.5% +2.6%

09:00 Eurozone Private Loans, Y/Y November -1.1% -0.9%

14:00 U.S. S&P/Case-Shiller Home Price Indices, y/y October +4.9% +4.4%

15:00 U.S. Consumer confidence December 88.7 94.6

21:30 U.S. API Crude Oil Inventories December +5.4