FXStreet (Delhi) – Research Team at Danske Bank, suggests that a lot of data to chew on today as Euro area kicks off with French and Spanish GDP data for Q4. Key Quotes “France is expected to have grown 0.2% q/q, while Spain likely had stronger growth around 0.8% q/q. Later this morning we look for a rise in euro flash CPI to 0.5% y/y from 0.2% y/y and core inflation to move up to 1.1% y/y from 0.9% y/y. M3 and credit data are expected to continue to show solid gains. In the US focus turns to Q4 GDP which we expect only increased by 0.2% q/q (consensus 0.8% y/y). Some of the weakness, however, reflects another quarter with a negative contribution from inventories. Also, falling oil investments due to the oil price collapse are likely to have weighed on total investments. The US Employment Cost Index is also worth keeping an eye on as this will give an indication of how tight the US labour market is. Consensus is for an unchanged rate of 0.6% q/q pointing to a moderate rise in wage growth but not yet something to cause concern for the Fed. A bigger worry is the decline in the oil price and global uncertainty as highlighted in the statement this week.” For more information, read our latest forex news.