Market Focus
In U.S., The latest data on Q4 U.S. gross domestic product will be released on Thursday. Some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years. U.S. budget deficit negotiation will be another focus. If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending.
In Europe, national elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Bersani to win and continue with reforms to tackle Italy's debt problems.
In Japan, Prime Minister Shinzo Abe may submit the nominations for next Bank of Japan’s chief and the two deputy governors to parliament this week.
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