This is a big day in terms of data releases and events. The European Council meets today and tomorrow, trying to hammer together an understanding on the banking union, based on last night’s attempts by the European finance ministers to find a compromise. With only little time ahead of the German elections and the conflicting views of the participants, it is not likely that a lot of progress will be seen. Also note that there will be plenty of data from Japan in the early hours of Friday. The numbers will tell the markets if ‘Abenomics’ has started working or not, and that could have an effect on the policy choices of ... (full story)