Again, the recent fall in oil prices is what is being sighted as the biggest cause for concern for the ECB and all central banks. In December when Draghi threw a massive curveball out there and said the Eurozone economy was performing well, he expected inflation to read 1% in 2016. However that forecast was generated on the assumption that oil prices would average more than $50 a barrel but now its at $30 a barrel.
The report's reading on future expectations, however, continued to decline and is now at the lowest levels since November 2012. January's special question to survey respondents was about energy prices and the impact they are and will have on business activity, with most firms responding that the net effects have been positive, .
15:00 – USD – US Markit manufacturing PMI (Jan) expected to come out at 51.2