A preview of what's to come in the European trading session

Howdy, everyone! The dollar beating extends into today as well as the dollar index now falls below 89.00. That sets the tone for trading today, so let's see if European traders have a similar verdict for the dollar when the time comes.

Here is what's coming up on the calendar later:

0700 GMT - Germany February GfK consumer confidence

A forward looking indicator, a survey on the relative level of past and future economic conditions in Germany. Not a major data point. Prior reading was 10.8, the same is expected today.

0800 GMT - Spain Q4 2017 unemployment rate

Q3 figures can be found here. Not a significant data point on the day, but gives a general sense of the Spanish economy.

0900 GMT - Germany January Ifo business climate, expectations, current assessment

A so-so data point. Usually not much reaction to it though. Expectations are for the readings to show a slight decrease from the prior, but as Ifo economist Klaus Wohlrabe said here, it's nothing to be too concerned about. The relative levels of the current readings are quite positive when you measure it up against historical levels.

0900 GMT - Italy November industrial sales data

Not a significant data point, just one that offers a glimpse into the Italian economy. A rough indicator of the general trend in the Eurozone economy. Prior readings here.

0930 GMT - UK Finance December mortgage applications

This is a rough indicator of UK housing market demand - as these are housing loans approved by High Street Banks in the UK. Not a very significant data point as it's not the full picture, but gives a general sentiment on the economy at least.

1100 GMT - UK January CBI retailing reported sales

A general indicator of consumer spending. It's a survey rating the relative level of sales volume for the month. Not a major data point.

1245 GMT - ECB rate decision

1330 GMT - ECB president Draghi press conference in Frankfurt

The big one on the day. No changes are expected. For previews, you can check out Eamonn's post here.

That's it on the European trading calendar. Quite a number of data points ahead of the big one which is the ECB.

I hope you all have a great day ahead and as always, good luck with your trading!