Data coming up: German Feb CPI and US Q4 GDP/PCE

It's been a busy data calendar today and there's more on the horizon

First up is the German CPI at 13.00 and the regional normally give us an accurate clue. That clue today is softer than expected readings and that's helped to the euro sales so far.

Ryan had a good summary of the regionals here further highlighting that the ECB may need to act in March.

Here's the forecasts:

Then at 13.30 GMT get the latest US GDP reading and, as importantly, PCE/personal consumption. With markets in Fed hike hype mode we'll expect a knee jerk on anything wide of the mark.

USD currently a real mixed bag with currencies having their own agenda and expect this to continue playing out.

USDJPY currently 112.87 EURUSD 1.1022 GBPUSD 1.3971