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From Eurozone yesterday, German Ifo Business Climate figures were released. German Ifo Business Climate increased to 106.7 in January. This was in line with market forecasts. Index now rose for the third consecutive month. Companies were far more satisfied with their current business situation and the majority was also optimistic about the business outlook. The German economy makes a good start to the year.

However, markets were more concerned with the results of Greek elections, where leftwing Syriza won. "Greece is turning a page, leaving behind disastrous austerity ... and five years of humiliation," Mr Tsipras told, leader of Syriza. Syriza  looks set to have 149 seats, just two short of an absolute majority.

 

There will be no major data releases from Eurozone tomorrow, but we would pay attention to any possible developments in Greece. US session will be marked by Durable Goods Orders, CB Consumer Confidence and New Home Sales figures. Analysts predict 0.6% rise both in Durable and Core Durable Goods Orders. Increase is also expected in consumer confidence data to 95.3. New Home Sales are predicted to show a figure of 452,000.

 

Figures to watch:

 

Durable Goods Orders /Core Durable Goods Orders (Tuesday 14:30)

CB Consumer Confidence (Tuesday 16:00)

New Home Sales (Tuesday 16:00)

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