Market Movers
The only release of interest in the global calendar today is Sentix investor confidence. The figure increased slightly in July and we look for a bigger increase this time due to the reduced uncertainty on the back of the Greek deal.
The Fed's Lockhart is due to speak in the afternoon and again tonight. Last week he said that the Fed is nearly ready to hike interest rates. This hawkish shift in Fed rhetoric was in line with our expectation and supports our call for a September hike.
During the rest of the week focus will be on US retail sales, which is one of the figures to follow closely ahead of the FOMC meeting in September. In the euro area Q2 GDP figures are due for release. Attention will also be on Chinese hard data after the recent fall in the manufacturing PMI.
In Scandinavia focus will be on inflation numbers out of Norway and Denmark.
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