Yesterday In Europe we had the German IFO figures released, this is where firms express their outlook on the economy for the next 6 months, voting if they feel things will remain the same, be better or get worse. It is an early indicator of current conditions and business expectations and is measured by roughly 7000 firms. The reading came in better than the current level but not as good as expected. It was currently at a reading of 101.3 and came in at 102 with the consensus initially expecting a figure of 102.5.
Also in Europe the main talking point is the Greek elections where Alexis Tsipras won. He has set up a confrontation with his European peers as he prepared to create a coalition tailored around ending austerity, stating the phase of accepting international demands for budget cuts is done. This has caused uncertainty in the market, pushing the Euro to 11 year lows as fear grows that Greece may default on thi
India’s rupee reached close to its highest level since November. With India heavily dependent on oil imports for its energy needs, the current record low oil prices are providing a welcome boost to their economy and strengthening the Rupee.
GBP - 09:30 UK: GDP (YOY) (Q4) currently at 2.6% with a consensus to go to 2.8%.
USD - 13:30 - US: Consumer confidence (Jan) is currently at 92.6 and has a consensus to rise to 95.1
USD - 13:30 - US: Durable Goods orders (Dec) which are currently at -0.9% have a consensus to go to 0.5%.
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