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Danske Daily: Fed Hawks Eye Polsser And Fisher's Speeches

ByDanske Markets
Published 01/14/2014, 07:47 AM
Updated 05/14/2017, 06:45 AM

Market movers today
In the US we expect headline retail sales to have slowed markedly in December to just 0.1% m/m from a solid 0.7% m/m mainly on the back of a substantial decline in auto sales. Excluding autos retail sales are expected to have gained a solid 0.5% m/m. The weak auto sales will probably be partly attributed to the bad weather that also appears to have weighed substantially on employment growth in December.

The Fed hawks will be out this evening with both Charles Plosser (voter, hawkish) and Richard Fisher (voter, hawkish) scheduled to speak about the US economy. Both will be voting members of FOMC in 2014 and could push the Fed in a more hawkish direction. Both were probably among the FOMC members who argued for a faster termination of Fed's bond purchase programme. Bundesbank vice-president and nominee for the ECB board, Sabine Lautenschläger, is scheduled to speak about the European Banking Union at 19:00 CET in Berlin.

Otherwise in the data calendar: industrial production for the euro area, the first estimate for HICP inflation in France and consumer prices in the UK.

In Sweden the December consumer price figures are due for release. We expect both CPI and CPIF to have remained unchanged in December.

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