Analysts at Deutsche Bank point out that the kicking the week off the big focus today should be in the US with the December PCE core and deflator data due, alongside the personal income and spending data.

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“Also due to be released is the Dallas Fed manufacturing activity index for January while late in the evening we’ll get the December jobless and retail sales data in Japan. Away from this, China’s NPC Standing Committee is due to kick off a two-day meeting in Beijing in which it’s expected that a revision to the constitution will be discussed. Elsewhere, the sixth round of NAFA talks are expected to conclude in Montreal and the ECB’s Coeure and Lautenschlaeger will also speak.”