Economic calendar: Labour market data and Trump’s address

• Labour market reports from Poland and the United Kingdom

• IBM (IBM.US) and Netflix (NFLX.US) to report results after session close

• Trump to address World Economic Forum in Davos today

9:00 am GMT - Poland, labour market report for December. Polish employment growth kept slowing since the turn of 2017 and 2018. However, growth picked-up to 2.6% YoY in November and is expected to remain there in December. Wages in the corporate sector are forecasted to grow 6.1% YoY, following 4 months of declines.

9:30 am GMT - UK, labour market report for November. The UK labour market report for November is the final piece of “hard” data ahead of the BoE meeting scheduled for the next week. Average 3-month earnings growth of 3.1% YoY is expected, slightly lower than the previous 3.2% YoY. Market prices in over 65% chance for a rate cut.

10:00 am GMT - Germany, ZEW index for January. Expected: 15 pts. Previous: 10.7 pts

10:30 am GMT - Trump's address at World Economic Forum in Davos. The US President will deliver an address at the World Economic Forum. A point to note is that two years ago Trump used the speech to advertise his “America First” agenda and hinted that US trade relations with some countries are unfair. Tariffs and trade war with China came next.

1:30 pm GMT - Canada, manufacturing sales for November. Expected: -0.3% MoM. Previous: -0.7% MoM

Central bankers’ speeches

• 3:00 pm GMT - BoE Governor Carney

Earnings releases worth watching

• International Business Machines (IBM.US)

• Netflix (NFLX.US)

• United Airlines Holdings (UAL.US)