\The main event is the ECB meeting, where we expect a refi rate cut to 0.1%. During January we have seen low inflation and declining inflation expectations combined with higher short-term money market rates - two scenarios ECB's Draghi said would lead to policy action. The ECB may also consider stopping sterilisation of SMP purchases, see more in ECB preview: Another refi rate cut , 4 February.
Bank of England is expected to keep all policy measures unchanged. Focus will be on the future of forward guidance if any statement is released.
We expect German factory orders to have declined in December. However, the upward trend during 2013 should continue and get even stronger as indicated by the latest German business surveys.
In the US initial jobless claims are expected to fall slightly to 335k in February.
We expect Danmarks Nationalbank to stay put if the ECB cuts the refi rate.
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