USD

* US Senate failed to vote for an end to the government shutdown last night as president Trump refused to budge on his demand for border wall funding.

* Trump is preparing a draft for a national emergency order to get his wall funding through.

* US Kudlow says China must deal with intellectual property theft in trade talks.

* US-Japan trade talks delay as White House focuses on China.

EUR

* This morning, ECB’s Villeroy says that external factors and uncertainty have been largely behind the slowdown.

* ECB Coeure says the slowdown has surprised the governing council.

* German IFO survey out this morning – looking for marginal weakness in the business climate, though expecting another miss.

GBP

* Last night, a report in the UK’s Sun newspaper that the DUP would accept the Irish backstop if a time limit was attached gave GBP a boost.

* Focus on next week’s start of the debates on plan B – GBP has been enjoying strong gains this week, helped by data also (healthy jobs report).

* CBI Distributive Trades Survey for Jan due out this morning.

AUD & NZD

* Uncertainty over Chinese growth this year prompting bearish calls on AUD across the board – some as low as 0.6000!

* Little on the docket to drive trade – Asia quiet, focus on risk sentiment, Wall St futures steady.

CAD

* Oil prices trying to push higher again to give the CAD a modest lift today.

* Canadian budget balance out this afternoon.

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