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The number of Americans filing for unemployment benefits as measured by the U.S. Labor
Department is expected to have decreased 3,000 to a seasonally adjusted 275,000. (0830/1330)
Separately, the Treasury Department is likely to show a $200 billion budget deficit in February,
contrasting a $55 billion surplus in January. (1400/1900) Meanwhile, the Commerce Department
will release its services sector report for the fourth quarter.
The European Central Bank is almost certain to cut rates deeper into negative territory and
agree on some kind of adjustment to its 1.5 trillion euro asset buying program. Any change in QE
is going to have unintended side effects and only limited functionality since monetary policy is
deep in unconventional territory, nearing its limits. The most likely outcome is a combination
of modest measures with a strong verbal commitment to take further action if necessary.
(0745/1245)
Dollar General Corp (NYSE:DG) reports fourth-quarter results on Thursday. The No.2 U.S. discount retailer
cut its full-year sales forecast in December after sales growth slowed in its third quarter, as
its core low-income customer base held back spending. Weak consumer spending likely weighed on
results this quarter as well. Larger rival Dollar Tree (NASDAQ:DLTR) and big-box rival Wal-Mart (NYSE:WMT) reported
lower-than-expected quarterly sales, hit by a strong dollar and a drop in food prices.
United Technologies Corp (NYSE:UTX) holds a session with investors and analysts to detail the state of its
businesses. The annual event comes just after the company scotched a merger approach by
Honeywell and amid a $1.5 billion overhaul of United Technologies' operations aimed at
consolidating factories and cutting costs.
News Corp (NASDAQ:NWSA) CEO Robert Thomson will meet EU antitrust chief Margrethe Vestager with the focus on
Google (NASDAQ:GOOGL). Rupert Murdoch's News Corp is one of more than a dozen complainants who have urged the
European Commission to act against Google for allegedly abusing its dominance in the online
search market. The meeting comes as Vestager ponders whether to penalize Google which could
include a fine up to 10 percent of its global revenue and force it to change its business
practices.
Canada's industrial capacity use likely decreased slightly in the fourth quarter compared to its
reading for the third quarter. Capacity utilization is forecast to have decreased to 81.6
percent in the fourth quarter, a little down from 82.0 percent in the previous quarter.
(0830/1330) Separately, economists forecast a 0.2 percent gain in new home prices in January
from December. (0830/1330)
New Canadian Liberal Prime Minister Justin Trudeau, keen to improve ties with the United States
that deteriorated under his Conservative predecessor Stephen Harper, visits Washington for the
first time since coming to power. Officials on both sides say Trudeau and U.S. President Barack
Obama, who share many of the same progressive ideas, get on better than the nations' two leaders
did during the time of Harper, who hectored the United States in a failed bid to push through
approval of the Keystone XL pipeline. Trudeau will hold talks with Obama in the Oval Office and
the two are then due to hold a joint news conference where they will unveil a number of joint
declarations on fighting global warming and improving the flow of goods across the two nations'
long-shared border. Trudeau will then take part in a lunch hosted by U.S. Secretary of State
John Kerry before attending a White House state dinner - the first Canadian prime minister to be
so honored since 1997.
Bank of Canada Governor Stephen Poloz will make introductory remarks at a Canadian Institute for
Advanced Research lecture.
Brazilian retail sales, measured by the government statistics agency IBGE, are likely to have
dropped 0.60 percent in January from December. Sales volumes fell 2.7 percent in December from
November. (0700/1200)
LIVEBLOG - ECB Press Conference with Reuters specialist markets correspondent Marc Jones
Join GMF members and Reuters specialist markets correspondent Marc Jones to listen to ECB
President Mario Draghi and discuss market reaction. (0830/1330) To join the Global Markets
Forum, click here