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ECB & NFP preview: QE on horizon, 'strong' US numbers expected

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With a weaker Euro and low oil prices offering some long-term hope to the embattled Eurozone, Saxo Bank's Head of Macro Strategy Mads Koefoed looks ahead to this week's ECB meeting, the prospect of QE in 2015 as well as NFP job figures from the US. 

Plenty of Eurozone data out this week ahead of the ECB interest rate decision: Germany November manufacturing PMI was 49.5, France measured it at 48.4 and Italy at 49 - all below 50. 
Eurozone Novemeber inflation was at 0.3% , still stubbornly below the 2% target while GDP QonQ was 0.2% with GDP YoY at 0.8%

By contrast the US NFP figure is expected to be around 230,000 according to the consensus view, with Mads assessing that the number is likely to be closer to 210,000, another strong result and Mads outlines trading strategies for EURUSD.