- JPY posts minor gains against USD, EUR in morning
- Second round of Eurogroup Greek talks today
- FTSE, CAC expected to open up, DAX to slip into red
Forex Overnight: EUR trading mostly lower 
The EUR is trading weaker against most of its major counterparts this morning ahead of the Eurogroup meeting in Brussels to discuss how to proceed with Greece’s bailout programme.
Later today, market participants will also keep a tab on Eurozone trade balance data, which is expected to reveal a contraction in its trade surplus for December. Moreover, traders await the release of German Bundesbank’s monthly report.
With no major US economic releases today due to Presidents' Day holiday, traders look forward to the minutes of the Federal Reserve’s latest monetary policy meeting later this week for cues on the timing of an interest rate hike.
On Friday, the USD strengthened against the EUR, reversing its earlier losses which were triggered by downbeat US consumer sentiment data.
At 06:00 GMT, the EUR had risen 0.2% against the USD to trade at $1.1413, while it has dropped marginally against the GBP to trade at GBP 0.7395.
The JPY has climbed 0.2% and 0.1% against the USD and the EUR, respectively.
UK Stocks: Likely to open marginally higher
The FTSE 100 is expected to open two points in the green.
No key economic indicators are scheduled for release today.
Hammerson (HMSO), Acacia Mining (ACA) and Fidessa Group (FDSA) are scheduled to report their results.
Bloomberg reported that HSBC Holdings (HSBA) appointed Kevin Geiger to the position of vice president for sales and marketing of structured products in New York.
A New York judge dismissed Barclays’ (BARC) bid to reject New York attorney general Eric Schneiderman’s lawsuit accusing the bank of misleading customers of its “dark pool” trading platform in order to boost its own profit.
According to the Sunday Telegraph, Tesco (TSCO) plans to cut up to 10,000 jobs as its chief executive officer, Dave Lewis, attempts to help the company to recover from a slump in sales and profits.
Asia: Trading in positive territory 
Asian markets are trading higher this morning.
In Japan, Honda Motor (7267) climbed after it announced plans to slow production at some of its plants in North America. Sumitomo Mitsui Financial Group (8316) advanced as its banking unit became the first Japanese lender approved to offer special “free-trade” accounts at China's free trade zone in Shanghai.
Mitsubishi UFJ Financial Group (8306) and Nomura Holdings (8604) also rose.
Likewise, FANUC (6954) edged up as the company stated that it intends to invest about $1.1 billion in Japanese production and research facilities.
At 06:00 GMT, the Nikkei 225 index had risen 0.5% to trade at 18,008.7.
In South Korea, Samsung Electronics (005930) and POSCO (005490) rallied.
In China, SAIC Motor (600104) edged up after the company announced that its state-owned parent firm would transfer 3% of the company to a Shanghai government-controlled financial conglomerate.
Shanghai Maling Aquarius (600073) and Shanghai Shenda (600626) also paced gains.
In Hong Kong, Tencent Holdings (700) advanced after Didi Dache, a leading taxi-hailing software company in which Tencent Holdings owns a stake, announced that it would merge with Kuaidi Dache.
US Stocks: Futures trading weaker 
At 06:00 GMT, S&P 500 futures were trading 2.5 points lower.
No key economic indicators are scheduled for release today. US markets will be closed today for the Presidents’ Day holiday.
EchoStar (SATS), Vectren (VVC), Regal Beloit (RBC), Helix Energy Solutions Group (HLX) and MSA Safety (MSA) are scheduled to report their results.
In the after-hours trading session on Friday, Ironwood Pharmaceuticals (IRWD) and Raptor Pharmaceutical (RPTP) advanced 5.9% and 5%, respectively, rebounding from their regular session losses.
Energy sector stocks, Vaalco Energy (EGY) and California Resources (CRC) gained 4.8% and 2.3%, respectively. On the flipside, McDermott International (MDR) and Avon Products (AVP) declined 4.6% each, reversing their regular session gains.
On Friday, the S&P 500 Index rose 0.4% in the regular trading session amid strength in energy sector stocks, and as better-than-expected economic growth data in Europe offset a decline in US consumer confidence.
Pioneer Natural Resources (PXD), Helmerich & Payne (HP) and Denbury Resources (DNR) surged 6.6%, 5.5% and 4.7%, respectively, tracking a rise in crude oil prices.
CBS Corporation (CBS) climbed 3.6% following better-than-expected fourth-quarter results.
Microsoft (MSFT) rose 1.8%, extending previous session gains which were triggered by reports that the company plans to buy mobile-productivity applications that work on Apple (AAPL) and Google (GOOGL) operating systems.
VF Corporation (VFC) soared 6%, buoyed by an upbeat earnings outlook for 2015. Interpublic Group of Companies (IPG) advanced 4.4% after its fourth-quarter revenue surpassed analysts’ estimates.
J. M. Smucker (SJM) gained 1.3% after posting better-than-expected third-quarter earnings.
On the other hand, ConAgra Foods (CAG) and Campbell Soup (CPB) declined 4.4% and 1.8%, respectively, after the companies lowered their earnings guidance for 2015.
American Express (AXP) shed 3%, hurt by a broker downgrade. Disappointing fourth-quarter earnings led Exelon (EXC) to fall 2.7%. Kraft Foods Group (KRFT) slid 2.7% as the company swung to a fourth-quarter net loss and announced the departure of several executives.
Europe Stocks: Expected to open almost flat 
The DAX is likely to open one point lower, while the CAC is expected to open three points firmer.
Eurozone Trade Balance is the key economic indicator scheduled for release today. Additionally, traders await the release of Bundesbank’s monthly report.
Thermador Groupe SA (THEP), Linedata Services SA (LIN), Selectirente SA (SELER) and Puma SE (PUM) are scheduled to report their results.
Bradley Birkenfeld, a former UBS Group AG (UBSG) employee who aided US authorities prosecute the Swiss bank in a tax fraud case, has been summoned to help with a similar probe of the lender under way in France.
Deutsche Wohnen AG (DWNI) announced that it intends to make a voluntary public tender offer to acquire Conwert Immobilien Invest SE (CWI) that values the company at about EUR 980 million.
Greece’s state minister, Alekos Flabouraris, stated that the country intends to review a EUR 1.2 billion deal for Fraport AG (FRA), in partnership with Greek energy firm Copelouzos, to run 14 regional airports.
Macro Update
UK house prices rise, indicates Rightmove
Rightmove reported that on an annual basis, the house price index in the UK has climbed 6.6% in February compared with a rise of 8.2% posted in the previous month.
ECB’s Constancio warns central banks of asset bubbles
Vitor Constancio, the vice president of the European Central Bank, warned that the current low interest rates globally has lead to overheating of some asset prices and sees the need for measures to control the rapid growth in the shadow banking sector. He further stated that even though overheating of asset prices was less noticeable in the Eurozone, concerns on asset bubbles should not affect the central bank’s monetary policy.
Japan’s annualised GDP widens less than expected
On a sequential basis, the preliminary annualised gross domestic product in Japan has risen 2.2% in the fourth quarter of 2014, less than market expectations and compared with a revised fall of 2.3% recorded in the previous quarter.
China’s actual FDI increases
On a year-on-year basis, the actual foreign direct investment in China has advanced 29.4% in January compared with an increase of 10.3% posted in December.
Australia’s new motor vehicle sales advance
On a seasonally adjusted annual basis, new motor vehicle sales in Australia have risen 0.2% in January compared with a revised fall of 1.1% recorded in the preceding month.
New Zealand’s services sector activity improves
The performance of services index in New Zealand has advanced to a reading of 57.8 in January from a revised reading of 56.7 recorded in the previous month.
New Zealand’s retail sales advance more than expected
On a sequential basis, retail sales in New Zealand have risen 1.7% in the fourth quarter of 2014, more than market expectations and compared with a revised increase of 1.6% posted in the previous quarter.