• We have a busy calendar this week, with the ECB, BOE and Czech National Bank meetings on Thursday followed by US payrolls on Friday. Other key events include Eurozone GDP this morning, followed by inflation figures on Wednesday. Tomorrow we have the RBA meeting and the US ISM manufacturing PMI.
  • Key data out today include the preliminary German CPI figures for January and Eurozone Q4 GDP. Regarding the latter, for those interested, the chart below shows real GDP levels indexed to the eve of the 2008 recession. Mind the Transatlantic growth chasm that will not close anytime soon.


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