Research Team at Rabobank, suggests that the main economic data releases today are from the US. Key Quotes “While housing starts are expected to have increased in January, building permits are pointing to a loss of momentum in the US housing market recovery. Meanwhile, PPI data are likely to show that the return of US inflation toward the Fed’s 2% objective remains elusive. The low oil price and the strong dollar are holding back inflation, while wages are not doing anything to push it up. Industrial production is expected to show a rebound in January, but this is largely due to utilities and can be attributed to the winter weather. In fact, the manufacturing and mining sectors continue to struggle with the weak global economy, the strong dollar and the low oil price. Later today the Fed will release the minutes of the January meeting of the FOMC, which saw a sudden loss of enthusiasm in the Committee’s outlook, only one month after their first rate hike.” For more information, read our latest forex news.