Eurozone Current Account Due On Monday

(RTTNews) - Eurozone's current account and construction output data are among the few economic releases scheduled for Monday. The unfolding week gains significance, as the European Central Bank's Governing Council is set to meet this week to discuss evolving economic condition for the region. The bank is widely expected to roll out stimulus measures, especially as negative inflation reported for December provide scope for monetary policy maneuvering.

On Friday, data from Eurostat showed that consumer prices declined for the first time since October 2009 and the harmonised measure of inflation fell the most since September 2009.

At 3:15 am ET, Switzerland's Federal Statistical Office will release its producer and import prices report. Producer and import prices are expected to decline 2.4 percent year-over-year in December after the 1.6 percent decrease in November. On a month-over-month basis, prices are estimated to drop 0.8 percent following the 0.7 percent fall in the previous month.

At 4 am ET, the European Central Bank will release its current account data for November. In October, the current account surplus was at EUR 20.5 billion.

AT 5 am ET, Eurostat is due to release its construction output report for November. In October, construction output had risen 1.4 percent annually.

European Union's foreign ministers are expected to hold a meeting in Brussels at 3:30 am ET. Around the same time, European Union's Jyrki Katainen is due to speak at the Financial Conference in Brussels.