Foreign exchange market. Asian session: the euro declined

Economic calendar (GMT0):

Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

00:30 Australia New Motor Vehicle Sales (YoY) January 2.4% Revised From 2.2% 5.1%

00:30 Australia New Motor Vehicle Sales (MoM) January -0.1% Revised From -0.5% 0.5%

02:00 China Trade Balance, bln January 60.09 58.85 62.15

02:00 China New Loans January 597.8 1800

04:30 Japan Tertiary Industry Index December -0.8% -0.6%

04:30 Japan Industrial Production (MoM) (Finally) December -0.9% -1.7%

04:30 Japan Industrial Production (YoY) (Finally) 1.7% -1.9%

The euro declined slightly ahead of euro zone consumer confidence data, which will be released tomorrow. Economists expect to see a decline amid market turbulence in February. Market participants are also waiting for minutes of January ECB meeting. The central bank is expected to add stimulus in March, that's why the minutes will be studied carefully.

The yen fell against the U.S. dollar amid weak domestic GDP data. The country's GDP fell by 1.4% y/y in the fourth quarter of 2015. The index declined 0.4% on a quarterly basis after expanding by 0.3% in the previous quarter. Weak data may persuade the Bank of Japan to take steps.

The Australian dollar rose on new vehicle sales data. Sales of new vehicles rose by 0.5% m/m and 5.1% y/y in January. These data suggest suggest consumers were quite confident.

EUR/USD: the pair declined to $1.1210 in Asian trade

USD/JPY: the pair rose to Y114.10

GBP/USD: the pair rose to $1.4535

The most important news that are expected (GMT0):

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

10:00 Eurozone Trade balance unadjusted December 23.6

14:00 Eurozone ECB President Mario Draghi Speaks

21:45 New Zealand Retail Sales, q/q Quarter IV 1.6% 1.4%

21:45 New Zealand Retail Sales YoY Quarter IV 5.7% 5.2%