All eyes turn to ECB meeting

After the all-important US nonfarm payrolls report last Friday, markets will now shift their focus to the European Central Bank policy meeting this coming Thursday. There are high expectations that the ECB will act again at this meeting to cut interest rates and even expand its asset purchase program.ECB President Mario Draghi’s press conference that follows policy announcement will be closely watched.

But before the ECB monetary policy announcement, some import economic data will be closely scrutinized by ECB policy makers.

Revised Eurozone GDP figures are due on Tuesday. Initial estimates showed a 0.3% expansion in the region for the fourth quarter, indicating underwhelming growth of 1.5% over 2015 as a whole.

Other data out of the Eurozone will be the Sentix Index which is issued on Monday.

Out of the UK, industrial productions data will attract attention on Wednesday.

Chinese inflation figures are issued on Thursday, providing insight into demand conditions within the world’s second-largest economy.

Finally, the week culminates with Canadian jobs data and the US Federal Reserve budget.

The post All eyes turn to ECB meeting appeared first on FXTM Blog.

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