Morning briefing: US Fed language will focus attention

It is expected that the US Fed will remove “patience” from its language surrounding rates increases, and will instead note that the improving economic performance in the US offers the opportunity for a change in policy.

In Europe, attention will continue to focus on negotiations between Greece and its creditors. The situation appears to be as intractable as ever, and won’t have been helped by footage released last night which showed Greek finance minister advocating Greece “ give the finger” to Germany in an address back in 2013. An article in this weekend’s Der Spiegel raised the notion of a Grexit once again, and noted that many politicians in Germany and the EU were preparing for such an eventuality.

The Spanish trade deficit is expected to widen for the year to January, with forecasts predicting that the trade deficit will edge up to €1.9 billion, up slightly from €1.82 billion.

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