Some highlights in European and US trading

Earnings and stock market sentiment are likely to be the drivers in the day ahead, not data or the ECB but there are some highlights.

  • 0800 GMT - German IFO survey

  • 1145 GM - ECB decision

  • 1230 GMT - US advance goods trade balance

  • 1230 GMT - US durable goods orders

  • 1400 GMT - Pending home sales

  • 1700 GMT - 7-year auction

Draghi has a habit of delivering an upbeat message but unless he promises to do whatever it takes to keep stock prices up, there's not much he can do.