Focus this week will be on the Fed and US retail sales. A speech today by the Fed's Lael Brainard (dove, voter) will be studied closely, as she is a dove and the markets fear another dove arguing the case for a hike. However, she has previously stated that she wants to delay a hike until inflation is closer to target and a repeat of this could potentially ease some of the tension in the market. Two other Fed members are due to speak today: Neel Kashkari and Dennis Lockhart. Both are non-voters but it will be interesting to see how they respond to the market sell-off.
Later this week, focus will turn to Chinese data on industrial production, investment and retail sales (both due out on Tuesday), German ZEW (Tuesday), US retail sales (Thursday) and the Bank of England meeting (Thursday). In the Scandies, focus this week will be on Swedish inflation and the Regional Network Survey in Norway (both on Tuesday).
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