Economic calendar: GBP awaits hints from Bank of England

• GBP traders await Bank of England decision

• US GDP and German CPI among releases to watch

• Amazon and Coca-Cola report Q4 earnings

12:00 pm GMT - BoE rate decision. The UK rate decision is a highlight of the day. Recent data has been mixed and market odds for a rate cut sit at around 42%. However, it is expected that the number of dissenters will rise from 2 to 3. Whether the Bank cuts or not, one can expect the press conference at 12:30 pm GMT to be a market moving event.

1:00 pm GMT - Germany, CPI inflation for January. German price growth data for January will be released today as a major hint ahead of tomorrow’s European reading. Market expects an acceleration from 1.5% YoY to 1.7% YoY. Prints from particular states will be released earlier: Saxony at 8:00 am GMT; Brandenburg, Hesse, Bavaria at 9:00 am GMT and North Rhine at 9:30 am GMT.

1:30 pm GMT - US, GDP report for Q4. Today’s release will shed some light on how the US economy coped in the final quarter of the previous year. It is expected that growth was 2.1% QoQ - in-line with growth for the Q3 2019. Initial jobless claims will be released simultaneously and they are expected to jump to 215k.

Releases to watch during Asian session

11:50 pm GMT - Japan, retail sales and industrial production for December.

0:30 am GMT - Australia, PPI inflation for Q4 2019.

1:00 am GMT - China, PMI indices for January.

Central bankers’ speeches

• 6:00 pm GMT - Bundesbank President Weidmann

• 8:15 pm GMT - BoC’s Beaudry

Major earnings releases

• Amazon (AMZN.US)

• Electronic Arts (EA.US)

• Verizon Communications (VZ.US)

• Coca-Cola (KO.US)

• United Parcel Service (UPS.US)