The French government is set to enter the primary debt market for the second time this week on Thursday after it lost the top notch 'AAA' rating. Statistics Netherlands is scheduled to release consumer confidence and unemployment data at 3.30 am ET. The consumer confidence index is forecast to improve to -34 in January from -37 in December. The jobless rate is seen at 5.9 percent in December. The European Central Bank is slated to publish monthly report. In the meantime, euro area's current account figures are due. The current account surplus is forecast to fall to zero from EUR 1.7 billion in October.
Spain and France will be in the market with their first bond auctions since the S&P rating downgrade last week. The countries are set to test the market after Portugal and Germany held successful auctions on Wednesday, raising a total EUR 5.939 billion. At the start of the week, France held a successful auction of its treasury bills, which saw the country's 1-year borrowing costs fall. Spanish debt yields also declined at a treasury bills auction on Tuesday. The countries raised a total EUR 13.47 billion from the auctions as markets shrugged of the news of the S&P downgrade.