Research Team at Danske Bank, suggests that in Europe, the German IFO expectations are due for release and they are set to be followed closely by the markets. Key Quotes “Developments here relate closely to German manufacturing PMI as this survey includes responses from manufacturing firms. Therefore, we look for a modest continuation of the decline from January. We also get the German GDP components, where the focus will be on the degree of weakness in exports. In the US, the February data for consumer confidence are released. We expect a somewhat weaker reading, with a decline in the Conference Board for February. In terms of the housing market, we expect a decline in existing home sales to 5.25m in January following the major gains in December. The Turkish central bank holds its February rate setting meeting today. We expect unchanged rates at 7.50% in line with consensus.” For more information, read our latest forex news.