In Euroland Ifo and flash PMIs are expected to print another very
solid reading with a minor decline in Ifo expectations and a minor
increase in the PMIs.
European politics will be in focus with the general election in
Ireland and the first of several regional elections in Germany.
In the US home sales data is expected to show a setback in January.
Durable goods orders and consumer confidence is on the agenda as well.
BoE Minutes on Wednesday can potentially be quite a huge market mover,
as inflation concerns could be causing superior division among
committee members.
No huge data out of Asia, but focus on the outcome of this weekend's
G20 meeting. Japan releases trade data and consumer prices.
In Denmark consumer and business confidence is due. In Norway
unemployment and PMI will be main events. In Sweden KI confidence data
released.
*Global update*
Increasing tensions in the Middle East are beginning to concern the
markets, but strong data has so far been outweighing increasing
geopolitical risks.
This week's FOMC minutes showed that members turned slightly more
concerned on inflation. This was followed by an upward surprise in
January inflation data.
EU finance ministers seem to have agreed that the permanent mechanism
should be able to accord up to EUR500bn. Q4 GDP data disappointed
slightly
The Riksbank hiked by 25bp and raised the repo path by about 25bp.
In Norway GDP numbers disappointed, but mainly on temporary factors.
The outlook remains strong with more need for policy tightening.
In Plates inflation increased less than expected in January suggesting
that the expected peak in inflation during Q1 will be lower than
previously expected.
*Full Report in PDF*
Source: ActionForex.Com
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