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Economic calendar: German survey data in the spotlight

Yesterday was the most intensive day of the week in terms of the macroeconomic release. Investors will get a chance to relax today as just one noteworthy event was scheduled. The German IFO business climate for January will be released at 9:00 am GMT. The headline gauge is expected to come in at 100.6 pts against the previous 101 pts. When it comes to subindices, the expectations gauge is seen declining to 97.1 pts while the current assessment measure should drop to 104.2 pts. One should keep in mind that ZEW economic sentiment index released earlier this week managed to beat expectations and move higher. Having said that, similar improvement may be seen in today’s IFO release. Apart from that, a few US companies will report earnings today. Last but not least, World Economic Forum in Davos ends today.

Companies from Wall Street reporting earnings today:

  • Abbvie (ABBV.US)

  • Air Products & Chemicals (APD.US)

  • Colgate-Palmolive (CL.US)

  • Dr Horton (DHI.US)

  • Lear (LEA.US)

  • NextEra Energy (NEE.US)

  • NVR (NVR.US)

EURUSD pulled back severely in the aftermath of the Mario Draghi’s press conference yesterday. Nevertheless, the main currency pair tries to recoup some losses today and solid IFO reading could support recovery. Source: xStation5

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