FX.co ★ European Economic News Preview: German GfK Consumer Confidence Due

On Wednesday, the European economic news agenda is relatively light, with key highlights including consumer confidence reports from Germany and monetary aggregates from the euro area.

At 2:00 AM ET, Germany's GfK is set to release its consumer sentiment survey results. Economic analysts predict an improvement in the forward-looking consumer sentiment index, which is anticipated to increase to -20.5 in February from -21.3 in January.

Additionally, preliminary data on GDP and household lending from Sweden will be available. The GDP is projected to show a 0.3 percent quarterly growth in the fourth quarter.

At 3:00 AM ET, Spain's INE is scheduled to publish its preliminary GDP figures. Expectations are that the economy will expand at a slower rate of 0.6 percent quarter-on-quarter in the fourth quarter, following a 0.8 percent growth in the previous quarter.

At 3:30 AM ET, Sweden's central bank will declare its monetary policy decision, with a probable interest rate cut of a quarter-point.

At 4:00 AM ET, the European Central Bank will release the euro area's December monetary aggregates data. The M3 money supply is expected to have increased by 3.9 percent year-on-year, compared to a 3.8 percent rise recorded in November.

Meanwhile, consumer and business confidence survey results will be announced from Italy. At 5:00 AM ET, ISTAT, Italy's statistical office, will publish non-EU foreign trade statistics.