Summary:

• Preliminary UK GDP reading missed forecasts

• Bitcoin moves towards $10k mark

• Investors await ECB’s January meeting account

After yesterday’s Fed minutes shoke the markets in the evening investors are getting ready for the Thursday’s release of the ECB’s counterpart. Japanese yen is the strongest currency within G10 basket after Fed minutes spurred risk-off sentiment. The GBP is the weakest among group-of-10 after GDP reading missed expectations. Gold trades significantly lower while oil posts minor declines.

UK economy grew less than initially expected during the final three months of the past year as consumers slowed down their spending due to heightened inflation. Growth in the fourth quarter in a year-over-year basis proved to be the weakest since mid-2012 while other peers in G7 expanded at a much better pace.

Over the past several hours we did not get any crucial revelations which could influence Bitcoin but the interesting story may be found in Venezuela where the country has reportedly raised as much as $735 million in the first day of a sale for its controversial “petro” cryptocurrency.

In Europe major stock benchmarks opened lower on the back of the downbeat US and mixed Asian session. All 19 industries in the Euro Stoxx 600 index are posting declines on the opening. Investors should be aware that in the early afternoon increased volatility may spur as the protocol from the ECB’s January meeting is scheduled for release.

The Federal Reserve shook investors substantially yesterday evening when the minutes were released. While the knee-jerk move was to a USD negative which saw US yields falling, all that moves were completely erased after a while when they analysed the report thoroughly.

Thursday’s calendar looks interesting just as the yesterday’s. The main event of the day is for sure the release of the ECB minutes in the early afternoon. Apart from that, investors will stay focused in the afternoon as Canadian retail sales and US crude oil inventories readings are due.