Whereas last week was dominated by central bank grandstanding, this week sees a raft of consumer and industry sentiment surveys for the UK, US and the eurozone. Most interest will be directed towards the eurozone which is struggling with falling growth rates and weakening inflation. The ECB has now cut rates and starting to run out of policy ammunition, raising the likelihood of a move to a form of QE similar to that undertaken by the BofE and US Fed. This is deeply unsettling for German Chancellor Angela Merkel, who has yet to form a government, and sets the scene for a conflict which will need watching closely.