A look at the day ahead in European and global markets from Wayne Cole.
It's been a quiet start to the week in Asia with much of the region on holiday. U.S. stocks futures are near flat, but EUROSTOXX futures added 0.5% to extend their recent bullish run.
Analysts assume the same sea change will deliver an improvement in the EU flash PMIs for January this week, likely outperforming the U.S. surveys. Knot is considered a card-carrying member of the ECB hawk club, which was clearly irked by recent reports that the central bank might step down to quarter-point hikes in March.
Members were keen that the BOJ explain to markets that the change was not a step toward an exit from policy easing, something it clearly failed at in the official statement.
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