Focus on Europe today.

Developments in the Eurozone takes centre stage as markets shifted their attention from the mid-week FOMC. Moody’s announcement of a five-notch downgrade of Ireland’s credit rating.  The German IFO report on the other hand came in stronger than expected at a high of 109.9. 

The BoE's semi-annual financial stability report recommended that UK banks build up their resilience gradually, by using retained earnings rather than by resorting to tighter credit conditions

Aussie has been ranging between 0.9840 – 0.9930 for the past few sessions. If the events in Korea escalate, we may see some volatility coming into play here.

Data Today:

German November Producer Prices – 7am GMT

Eurozone December Consumer Confidence – 3pm GMT