ECB-president Mario Draghi will speak before the European Parliament in connection with a discussion of ECB's annual rapport. There could be downside risk to euro area industrial production for October as industrial production disappointed in both Germany and France.
In the US we expect retail sales to show that November was another solid month ahead of the important Christmas season, paving the way for Fed tapering as soon as next week. In the US the House could vote on the bi-partisan Ryan-Murray budget deal today. So far there are no signs of a organised rebellion among House Republicans and the proposal should be approved without much drama.
In connection with its quarterly announcement the Swiss central bank is expected to signal that the target for 3-month Libor stays close to zero and that the 1.20 floor for EUR/CHF is here to stay for now. Focus will be on possible macro-prudential tools to prevent a bubble developing in the housing market.
In Sweden the inflation number could prove decisive for Riksbanken's interest rate decision next week. We expect inflation to stay below Riksbanken's latest forecast and pave the way for a rate cut.
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