Euro steadied against dollar near seven-week lows as investors shun new positions ahead of German sentiment data. 

EUR/USD last traded at 1.1032, after closing down 0.25% on Friday to seven-week lows at 1.1019. 

Euro lost 0.6% last week, the fourth weekly loss in a row and the longest such streak since October. 

Bets are increasing for a European rate cut, widening the gap further between US and European monetary policies and weakening euro. 

US President Donald Trump also threatened to put tariffs on European products if no "fair" trade deal was reached. 

Later today, an index tracking German business sentiment is expected up to 97.1 in January from 96.3. 

Japanese stocks tumbled 2% with New Zealand stocks down as well amid concerns over the spreading Coronavirus from China, with most indices closed for the Lunar New Year in Asia. 

Japan's TOPEX fell 1.53% to 1,703.96, while Nikkei 225 dropped 1.91% to 23,372.06, as New Zealand's NZX 50 shed 0.44% to 11,825.62. 

Gold futures tilted lower in Asian trade while remaining within sight of March 2013 highs, as the dollar index eked out gains ahead of US housing data. 

As of 03:52 GMT, gold futures due in February shed 0.01% to $1,558.30 an ounce, while the dollar index rose 0.06% to 97.87. 

Federal Reserve Bank of New York President John Williams is due to deliver opening remarks at the Puerto Rico Pitch Program in San Juan, while US new home sales are expected up 1.6% to 731 thousand units in December. 

Next Thursday we will see data on US GDP for the fourth quarter, expected up to 2.2% from 2.1% in the third quarter. 

The Federal Reserve will hold its January 28-29 meeting in Washington, expected to maintain rates at below 1.75%. 

Otherwise, China warned the Coronavirus's spread is gaining pace, noting over 2700 infected cases and more than 80 deaths so far. 

The World Health Organization declared the virus an emergency from China, while Canada announced its first case and the US its fifth case. 

USD/JPY tilted higher in Asian trade off January 8 lows, ahead of US housing data and amid growing concerns over the spread of the Coronavirus. 

As of 05:57 GMT, USD/JPY rose 0.05% to 109.07, after marking three-week lows at 108.73. 

Federal Reserve Bank of New York President John Williams is due to deliver opening remarks at the Puerto Rico Pitch Program in San Juan, while US new home sales are expected up 1.6% to 731 thousand units in December. 

Next Thursday we will see data on US GDP for the fourth quarter, expected up to 2.2% from 2.1% in the third quarter. 

The Federal Reserve will hold its January 28-29 meeting in Washington, expected to maintain rates at below 1.75%. 

Otherwise, China warned the Coronavirus's spread is gaining pace, noting over 2700 infected cases and more than 80 deaths so far. 

The World Health Organization declared the virus an emergency from China, while Canada announced its first case and the US its fifth case.