Market Movers ahead
We are still waiting for a solution to the Greek debt woes, with the Greek parliament due to vote on key elements of the additional austerity measures – possibly as soon as Sunday.In the US, retail sales could surprise the markets on the upside and CPI numbers are set to increase at a modest pace.Eurozone Q4 data should confirm our outlook for a sharp drop in production in the final quarter of last year.China’s vice president will start his official visit to the US on Monday and the 14th EU-China summit will be held later in the week. In Japan, GDP probably contracted slightly in Q4 11.Inflation in Sweden is set to drop sharply and we still expect the Riksbank to cut its policy rates.In Norway, attention will centre on the annual address of the central bank head. Q4 11 GDP data are likely to show growth just below trend.Global Update
Greek politicians reached a deal on austerity measures but Eurogroup finance ministers set conditions for approving the second bailout package for Greece.The US economy continued on the recovery track, with consumer credit numbers surprising on the upside and initial jobless claims declining.An unexpected large acceleration in Chinese inflation in January seemed to be mainly due to seasonal distortion.Recession in Denmark has been called off, as the Danish economy moved into the black in Q4. In Norway, chances of further policy rate cuts are fading.
Disclaimer
This publication has been prepared by Danske Markets for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Markets´ research analysts are not permitted to invest in securities under coverage in their research sector. This publication is not intended for private customers in the UK or any person in the US. Danske Markets is a division of Danske Bank A/S, which is regulated by FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange. Copyright (©) Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.
0 comments:
Post a Comment