Research Team at Danske Bank, suggests that this week is light in terms of data releases for the euro area but, interestingly, ECB President Draghi is due to speak at the EU Parliament today at 15.00 CET. Key Quotes “His words will be followed closely by investors as they look to see whether he provides any new comments on possible further easing. Last week, he sounded very dovish and his comments have for some evoked memories of the remarkable 'whatever it takes' speech from 2012. We believe that 'policy action', preferably globally coordinated, would be the trigger for market stabilisation. Note that we changed our call on the March ECB meeting. We now expect a 10bp rate cut to be accompanied by a two-tier deposit rate system and frontloaded QE. For more see Market Turmoil, Policy Responses and Market Implications , 12 February 2016. The US calendar is quite empty today and focus is on the minutes from the FOMC January meeting, which are due for release on Wednesday. In the UK, focus is on the upcoming EU council meeting on Thursday and Friday, when the draft deal between the EU-UK is due to be discussed. If an agreement is reached at the meeting, the UK is likely to hold a EU in/out referendum in June.” For more information, read our latest forex news.