Australia HIA New Home Sales -1.9 %, Previous: 2.2 %
Asia Stocks Fall on Euro Concern; China Futures Jump amid Easing (BBG)
EUR/USD fell to a low of 1.13 overnight as the ECB announced last night that the waiver that allowed Greece to swap its junk-rated debt for money would expire on February 11, well ahead of the previous deadline of February 28th. This happened despite a meeting between ECB President Draghi and the Greek Finance Minister. Dealers reported that leveraged funds resumed EUR-selling, but EUR/JPY demand from Japanese names helped the pair recover to 1.1360. USD/JPY continues to consolidate, with many waiting for the NFP release. 116.85 and 118.00 are now the key levels to watch for.
07:00 GMT – German Factory Orders (1.5 % m/m)
12:00 GMT – Bank of England Interest Rate Decision (0.50 %)