Good morning! Here's what you need to know in markets today. German Inflation Is Coming. At 1 p.m. GMT, Germany will release inflation data for December. Economists are expecting a reading of 0.4%, after 0.6% in November. That would be the lowest inflation in five years for Europe’s biggest economy. The Euro Just Sank To A 9-Year Low. The euro hit a nearly nine-year low versus the dollar on Monday as investors bet on quantitative easing by the European Central Bank. The euro fell to as low as $1.18605, its weakest level since March 2006, having fallen below an important support at $1.20. Merkel Is Under Fire For Her Grexit Remarks. German Chancellor Angela Merkel came under fire Sunday over a magazine report suggesting she would be prepared to let Greece exit the euro should a far-left party win a snap Greek election. Japanese Manufacturing Grew In December. Japanese manufacturing activity showed sustained growth in December, a survey showed on Monday, suggesting domestic demand continues to recover after the economy fell into a surprise recession last year. The final Markit/JMMA Japan Manufacturing Purchasing Managers Index (PMI) was 52. Asian Markets Are Mixed. Hong Kong’s Hang Seng is currently trading up 0.27%, and the Shanghai Composite Index is off to another roaring start, up 3.87%. At the close, Japan’s Nikkei is down 0.24%. Tesco Is About To Announce Job Cuts. British supermarket chain Tesco will on Thursday announce drastic changes to supplier contracts and job cuts to help rebuild its reputation after an accounting scandal and four profit warnings last year, the Sunday Times reported. Spain’s Governing Party Is Leading Polls Again. Spain's ruling centre-right People's Party (PP) came first in an opinion poll on Sunday, one of its strongest results in recent surveys, while the Socialists and left-wing newcomer Podemos were in close second and third place respectively. Anti-austerity Podemos have been in first place in other recent polls. Venezuela’s President Is Heading To China For Financial Support. Venezuelan President Nicolas Maduro begins a trip to China and OPEC member countries late Sunday in search of financial support as his country reels from falling oil prices and a tattered economy. Russia “May Face Chaos” If More Sanctions Are Imposed, According To Germany. Tougher sanctions may destabilise the situation further in Russia and plunge the country into chaos, German deputy chancellor Sigmar Gabriel warned in a newspaper interview on Sunday. China Just Got Its First Online Bank. The country’s new online-only bank, WeBank, was launched yesterday by Tencent, with Chinese Premier Li Keqiang helping to unveil the service, according to the Financial Times. Join the conversation about this story »
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