Market movers ahead

  • In Greece, anti-austerity party Syriza is poised to win the general election and Greece faces higher uncertainty and volatility.

  • Inflation is expected to have dropped further into negative territory in the euro area.

  • US GDP growth remained solid above 3% q/q in Q4 (annualised) supported by strong private consumption.

  • The Fed is expected to reiterate that it can afford to be patient at this week’s FOMC meeting.

  • The Danish central bank could be forced to cut interest rate further to stem the appreciation pressure on DKK.


Global macro and market themes

  • Euro risk assets are heading higher on ECB QE and growth recovery.

  • Too much doom and gloom – good news from the US and China as well.

  • The ECB surprise of buying 30-year bonds pushes yields to extremes.

  • EUR/USD lower short term.

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