Market movers today
We have a very quiet start to an otherwise busy week on the macro front. Today will not provide any key figures, only new economic forecasts from the European Commission. Apart from data and central bank speeches, focus will continue to be on any announcements by Donald Trump on policies and on developments in the French election campaign.
On the macro front, Fed chairman Janet Yellen is due to hold her first semi-annual testimony before Congress since Trump was inaugurated. Focus will be on any guidance on the timing of the next rate hike. We continue to look for a June hike but risks are still skewed towards an earlier hike.
On the global data front, focus will be on US retail sales and CPI, German ZEW index and GDP, UK CPI and Chinese producer price inflation. See Weekly Focus , 10 February 2017 for more on this.
In the Scandies, all eyes will be on the Riksbank on Wednesday and Swedish inflation data on Friday. In Norway, the annual address by the central bank governor will be the main event.
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