Developed Macro: All Eyes On Europe

 | Nov 27, 2014 12:56AM ET

Risk sentiment retreated slightly overnight as most US data disappointed. Treasuries continued to be in demand and USD weakened against the majors. As the US markets are closed today, the focus will be on the events in Europe.

The market participants will likely trade cautiously today ahead of inflation data from Germany and Spain and what Draghi and Weidmann have to say in response to Constancio’s Pro-Sovereign QE argument.