Economic calendar: Bank of Canada decision in the spotlight

• Bank of Canada expected to leave rates unchanged today

• Ursula von der Leyen to address World Economic Forum today

• Johnson & Johnson (JNJ.US) among companies reporting earnings today

9:00 am GMT - Poland, industrial production for December. Expected: 6.4% YoY. Previous: 1.4% YoY

10:30 am GMT - Ursula von der Leyen addresses World Economic Forum in Davos. Yesterday’s address from Donald Trump was a non-event as the US President just repeated what he has achieved over his presidency. However, there were some hints on a big trade deal with the European Union. Markets will focus on any remarks regarding trade in today’s address from EC President.

1:30 pm GMT - Canada, CPI inflation for December. Expected: 2.2% YoY. Previous: 2.2% YoY.

3:00 pm GMT - Bank of Canada decision. The Bank of Canada maintains the highest interest rates among developed countries. Rates are expected to be left unchanged today as inflation holds near the midpoint of the 1-3% target and hard data remains solid. The monetary policy report for Q4 will be released 30 minutes after the decision while the press conference of the Governor Poloz will start at 4:15 pm GMT.

3:00 pm GMT - US, Existing homes sales for December. Expected: 5.43 million. Previous: 5.35 million

9:40 pm GMT - API report on crude oil stockpiles. Expected: -1.3 mb. Previous: +1.1 mb

Central bankers’ speeches

• 7:40 am GMT - BoE Governor Carney

• 4:15 pm GMT - BoC Governor Poloz (post-decision press conference)

Major earnings releases

• Johnson & Johnson (JNJ.US)

• Abbott Laboratories (ABT.US)

• VF Corp (VFC.US)