With little of note elsewhere, the............>

FOREX: With little of note elsewhere, the highlight of the overnight session was

New Zealand's Q4 inflation expectations data released on the eve of the RBNZ

monetary policy decision. The 2-year ahead figure fell to 1.80% from the prior

1.86%, prompting Westpac to revisit their RBNZ call and change it to a 25bp cut

to the OCR at the upcoming meeting. 

- NZD sold off as a consequence, while AUD suffered from a spill-over. An

improvement in the local NAB business confidence survey may have helped AUD

avert further losses, although the initial reaction was limited.

- KRW firmed up amid talk of exporters taking profit from a rebound in USD.

Elsewhere in Asian FX, USD/CNH tested the CNH7.0000 figure to the downside but

failed to consolidate below the level.

- Data-wise, German ZEW Survey, UK labour mkt report, Norwegian GDP and Swedish

PES unemployment take focus from here. ECB's Coeure, Mersch and Enria, BoC's

Dinis and Fed's Clarida, Harker and Kashkari will speak. Elsewhere, U.S. Pres

Trump will deliver his awaited address to the Economic Club of New York.