The Fed remains on hold amid mixed data. Canadian GDP surprises to the upside. The BoE remains on hold and wants to see hard data improve. Eurozone Q4 GDP disappoints amid outright contractions in Italy and France. Japanese industrial production rebound may be short lived. Underlying inflation momentum still soft in Australia.
Big risk-off week with equities down across the board. Bond yields decline everywhere and plunge in Italy on weak data. Sterling gets a bid on BoE hold. Oil plunges on growth fears, gold lifted by same.
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