Steadier Monday's session ahead of quite volatile week
It is a quite Monday's session with no major data releases. However, this is just beginning of the week which will have central banks in focus, in particular FOMC Meeting. Monday is looking rather quiet but gives markets another opportunity to properly absorb last week’s ECB announcement before other central banks steal the spotlight. Europe is expected to open a little higher, building on Friday’s gains and taking a lead from the positive session in Asia overnight.
Disappointing numbers from China over the weekend did nothing to put off investors at the start of the week despite industrial production and retail sales both falling well short of expectations in January. Perhaps the prospect of more stimulus is enough to support markets at a time when the economy is slowing and facing a tough challenge of hitting this year’s growth target.
Euro is currently being traded few points above 1.1120 level, Sterling is around 1.4r80 handle, while Aussie is at 0.7550 area.
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