Economic calendar: Focus on German survey data

• European stock markets expected to open lower

• German IFO seen at 90.5 in February

• Speech from ECB President Lagarde

Global stock markets are trading lower at the beginning of a new week. DAX futures point to German index opening around 100 points below Friday's closing price. Elsewhere, commodities and commodity currencies are posting solid gains.

As it is usually the case for Monday's, the economic calendar is light. German IFO index for February is the only noteworthy release during the day. Apart from that, UK Prime Minister Johnson will hold a press conference at 7:00 pm GMT and is expected to present a timetable for exiting the UK lockdown. ECB President Lagarde is scheduled to deliver a speech at 2:30 pm GMT at the European Semester Conference. 

9:00 am GMT - Germany, IFO index for February. Expected: 90.5. Previous: 90.1

7:00 pm GMT - Boris Johnson press conference

Central bankers' speeches

• 2:30 pm GMT - ECB President Lagarde

• 8:30 pm GMT - Fed Bowman