German

Key events:         USA – Core PCE Price Index (MoM) (Jan) USA – New Home Sales (Jan) The latest GDP data from the U.S. showed that the U.S. economy grew 2.7% in Q4, not 2.9% as analysts had anticipated. Softer economic growth might have helped ease inflation and softened the Fed's hand. That didn't happen, however, as the GDP Price Index, another measure of inflation that was released along with the GDP data, showed that inflation fell in Q4, but fell much less than expected, fully reflecting the CPI and PPI data released last week.