The week ahead

The victory of the Syriza in the Greek elections will dominate the headlines this week as party leader Alexis Tsipras cobbles together a coalition, having failed to secure a majority win.  We will also see how ECB President, Mario Draghi, handles a number of questions in today’s Eurogroup meeting on the finer details of how he might actually go about buying things like Greek government bonds if Syriza move the goalposts. On the economic front the inflation estimates for eurozone inflation out on Friday together with eurozone unemployment for December.  UK Q4 GDP figures are out on Tuesday and expected to show an modest increase year-on-year.  US GDP reports on Friday. Industrial production figures for heavily industrialised Japan add to the interest in a busy week.  The US Federal Reserve announce their decision on interest rates on Wednesday.  We expect no change as oil prices keep downward pressure on inflation.