City sources predict the FTSE 100 will open up just one point from yesterday's close of 5,892, as investors balance renewed hopes surrounding the 'fiscal cliff' in the US with concerns over the monetary policy decisions of the Bank of England (BoE) and the European Central Bank (ECB). President Barack Obama cheered investors with the news that he believes reaching a deal to avoid the looming cliff is possible within a week. Elsewhere, however, both the BoE and ECB are expected to not make any changes to policy today, with the ECB looking likely to leave interest rates unchanged at what is a record low. Regarding the former, analysts at Barclays Research wrote to clients explaining that, "(...) Monetary policy committee (MPC) comments in the last few weeks have taken a slightly more dovish tone, and we view these comments as suggesting that the committee is ready to undertake further QE should the outlook for activity deteriorate. For the time being, though, we see little reason for the MPC to have changed tack." Concerning the ECB, economists at Unicredit had this to say on Thursday morning: "We see no change in the refi rate, although some GC members may favor a 25 basis point cut. The GDP forecast for 2013 will likely be lowered to zero/slight contraction (vs. the previous +0.5%), while the 2014 CPI projection should be in line with the definition of price stability."Also on today's agenda is the UK balance of trade announcement, new UK car registrations, the first release of EU GDP, US initial jobless claims and US continuing claims figures. Halifax was expected to release its UK house price data for the month of November at 08:00.Overnight Standard&Poor´s downgraded Greece´s long-term debt ratings to the 'selective default' category. In company news, power systems giant Rolls-Royce is to report to the Serious Fraud Office (SFO) after matters of bribery and corruption involving so-called 'intermediaries' were discovered in Indonesia and China. The company said that it has passed information to the SFO following allegations of malpractice in overseas markets.Emerging markets bank Standard Chartered said it is in on track to deliver another strong set of full-year results this year as it reiterated that it is near to settling claims over Iran-linked transactions with US authorities. Following a payment of $340m made to the New York State Department of Financial Services in August, relating to the breach of US sanctions and hiding of financial transactions with Iran, StanChart reckons that the conclusion of the investigation will result in another fine of around $330m "very shortly".PZ Cussons said trading in most of its markets was challenging, but that it was confident of a return to profitable growth in the current financial year. In a trading update the Imperial Leather soap maker said performance of the group for the first half of the year has been in line with management expectations.