Market Movers
In the euro area, the calendar is crowded in terms of data releases and the week starts off with the German IFO expectations. So far, we have not seen any weakness in the indicator but we expect this development to be over and forecast a decline to 102.3. This is less than the recent sharp drop in ZEW expectations but more in line with the modest decline in the PMI figures. Besides the slowdown in emerging markets, the Volkswagen (DE:VOWG) exhaust scandal is also to blame.
At noon ECB's Mersch will speak in Brussels on 'The Challenges of Innovation'.
In the US, new home sales for September will likely add to the recent series of data releases showing that the US housing market remains solid.
There are no important data releases in Scandinavia today. Otherwise focus this week will very much be on central bank meetings with the Riksbank and the FOMC due Wednesday and Bank of Japan due Friday.
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