The FTSE had a bad day yesterday however it has so far managed to fend off falling into the bear trap, trading around 19 per cent off its all-time high of 7,103 in April last year. A key measure of a bear market is an index trading 20 per cent lower than its peak. This fueled fears that this we might be entering a bear market.
The national bureau of statistics’ bulletin showed GDP growth at 6.8% in the three months to December, easing from 6.9% in the previous quarter – the slowest quarterly rate since 2009, when growth slowed to 6.2%.
GBP - 09:30 :Consumer Price Index (YoY Dec) expected to rise to 0.2% from 0.1%
GER- 10:00: ZEW Survey – Economic Sentiment (Jan) Expected to fall to 9.0 from 16.
GBP - 11:00: BoE Governor Mark Carney Speech.
EUR- 12:30 : Eurozone CPI (YoY Dec) expected to remain unchanged at 0.2%.