Canada: Current Account deficit at $17.26 billion in Q4

According to the Westpac Strategy Team, “The EUR seems unlikely to recover much further with 1.32/1.3300 seen as an ideal zone to initiate shorts for a bigger sell-off down to the 1.27/1.2800 zone.” Moreover, discussions for a grand coalition in Italy will likely last weeks and may not yield much. Fresh elections may be called but that will only occur after election laws are re-written. Yet the Italian parliament does not convene until 15 March.