The world economy has begun the year in fine form. America is cruising along, China is growing faster than expected, Britain is muffling the Brexit downdraft. Even the usually lagging euro zone is perky.
Rating agency Standard and Poor's said it did not expect the European Central Bank to switch away from its supportive monetary policy before 2018, despite signs that inflation pressures are beginning to return.
This morning we had data from both the UK and Eurozone, while the Bank of England governor Mark Carney was speaking to a committee of MPs on UK inflation and growth outlook, and his future at the bank.
European equity markets are expected to open a little higher on Tuesday following a mixed session in Asia overnight, as traders await data from the euro area this morning while maintaining a little caution ahead of Fed Chair Janet Yellen’s Jackson Hole speech at the end of the week.