A preview of what's to come in the European trading session today

Howdy, everyone! Hope you're all having a good day so far. Markets have generally been rather quiet with little happening. The dollar is clawing back some losses on the day, with the laggards being the NZD and JPY.

If you're looking for clues from data points today, there isn't going to be much on the calendar. Here is what things look like in European trading later today:

0830 GMT - ECB's Villeroy speaks at French Senate

0845 GMT - ECB's Nowotny speaks at Euromoney CEE conference

Not expected to have much to offer in terms of new communication to ECB's policies - but good to take note. Overnight, Villeroy gave it a go to jawbone the euro - though it did little to help. We also had comments from Bundesbank head Weidmann here and here on the ECB.

1000 GMT - Eurozone November construction output

1000 GMT - Eurozone December final CPI data

Focus is on CPI data, and it can only work out one of three ways - as this is the final reading. If the core reading is in line with prelim figures, market should remain unphased. Above those figures, and market will likely perceive it as a possibility for the ECB to move quicker to change its communication. Below those figures, and we could see some jitters in the euro again as there will be camps arguing that inflation isn't going to come.

Inflation reading will be key for the euro moving forward, so watch this space in the coming months. The preliminary readings can be found here.

1145 GMT - BOE's Saunders speaks at an event in London

1200 GMT - US MBA mortgage applications w.e. 12 January

Weekly US housing data, measures the change in number of applications for mortgages backed by the MBA during the week. Not the biggest of data points, but a general indicator of the housing sector sentiment.

It's a relatively quiet one on the calendar today, and potentially could be a quiet one if Eurozone inflation figures are in line with preliminary readings. So, get your coffee and let's see how things pan out on the day. As always, I wish you good luck with your trading!

Also, do let us know of any feedback to the new look on our economic calendar (I've been reading the recent comments, and duly noted on some of the feedback). Cheers.