It is a relatively quiet day on the announcement front, but there are still a few important pieces of data coming out.

China is releasing three pieces of data, including Fixed Asset Investment, Industrial Production and Retail Sales. Fixed Asset Investment is important as it reflects the change in total spending on fixed assets (ie factories, roads etc). This gives us an indication of government spending on infrastructure. Industrial Production data is vital as the Industrial sector is the main driver of the Chinese economy. This has knock on effects for economies around the world as China imports a lot of materials in order to keep up with production. A weaker Production figure can indicate a weakening of imported products (mainly raw materials). Retail Sales is important as it reflects the strength of the retail sector in the world’s second largest economy.

Europe is releasing a couple of pieces of data. They are European Industrial Production and Italian CPI. As with China, the Industrial Production data is important as it shows the relative health of the industrial sector within Europe. The Italian CPI data shows a reflection of consumer sentiment and confidence.

Elsewhere, BoJ Governor Kuroda is set to speak later today, while ECB President Mario Draghi is also set to speak in the early hours of tomorrow morning.