Market movers today
Euro inflation will likely drop to a new cycle low of 0.6% in February, which adds pressure on the ECB ahead of the meeting next week. Yesterday German inflation was weaker than expected and as a result we have lowered our forecast for the euro. The unemployment rate in the euro area is set to remain at 12%.
ECB's Sabine Lautenschlaeger gets her first opportunity to express her view as ECB board member as she speaks on financial stability and the role of central banks.
In the US Q4 GDP is expected to be revised down to 2.4% q/q AR from 3.2% q/q AR due to a lowering of personal consumption while the GDP price deflator and the core PCE are expected to remain unchanged.
Pending home sales are expected to show a slight improvement in January. University of Michigan confidence and US Chicago PMI are also released.
Fed's Stein, Kockerlakota, Evans and Plosser speak today. The event includes a discussion on communication strategies under unconventional monetary policy.
In the Scandi markets, Swedish and Danish GDP and Norwegian unemployment and retail sales are out, see more on page 2.
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