BOE & ECB heads watched with keen interest
All eyes will be on BOE (Bank Of England) Governor Mark Carney and ECB (European Central Bank) President Mario Draghi as they will both be delivering speeches. While these are not official rate meeting speeches, markets will be keenly looking at both heads for any clues about monetary policy in the future.
As far as announcements go, it is relatively quiet. The most prominent announcements come out of the US in the early hours of the morning. The US are releasing their HPI (House Price Index), S&P/CS Composite HPI, CB (Conference Board) Consumer Confidence, IBD/TIPP Economic Optimism and Richmond Manufacturing Index. Both HPI figures are important as it gives an indication into the strength of the housing sector. Consumer Confidence and Economic Optimism data is important as it reflects consumer sentiment and their confidence/security in the US economy. The Manufacturing Index helps provide us with information about the health of the manufacturing sector.
Elsewhere, Germany are releasing their IFo Business Climate Index. As the name suggests, it is a reflection of sentiment/confidence among the business community. Vital information considering Germany is the largest European economy.