A look at the day ahead in European and global markets from Vidya Ranganathan
Tuesday's a busy day for European markets. We get preliminary growth numbers for the euro zone, inflation in Italy, jobless data for Britain and, crucially, the German economic sentiment ZEW survey.
No surprises are seen in euro zone GDP data - rather, analysts assume the tepid pace seen in the fourth quarter hasn't picked up.consideredWeakness in the euro zone's largest economy will be a matter of concern for market bulls, given they just saw Asia's largest economy is stillAs stock markets pause to take stock, the dollar too is ceding a bit of ground mainly to sterling and the Canadian dollar , and a bit to the euro .
In the background to all this data-diving is the usual drawn-out U.S. debt ceiling debate. With a little more than two weeks to go before the U.S. government could run short of money to pay its bills, President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy meet on Tuesday to find common ground on spending levels and whatever else it takes to agree on an increase in the nation's $31.4 trillion debt limit.
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