The final euro inflation figure will be interesting after the flash estimate dropped to 0.7% and the ECB cut the refi rate. The final German and Spanish figures were revised downward, but we estimate the figure will remain unchanged from the flash estimate.
The ECB's executive board member Mersch speaks today and focus will be on whether he will be very dovish in line with other members of the board. Among the previous comments it was particularly interesting that Praet did not rule out the possibility of asset purchases, even though he emphasised that additional stimulus from the ECB is not needed right now.
In the US industrial production and Empire manufacturing PMI, which have both undershot the ISM manufacturing index, are released. For industrial production we estimate an increase of 0.2% m/m, which will imply the gap to ISM will persist in October. On the other hand, the Empire manufacturing index is expected to increase and close part of the gap.
To Read the Entire Report Please Click on the pdf File Below.
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Danske Daily: November 15, 2013
Published 11/15/2013, 06:04 AM
Updated 05/14/2017, 06:45 AM
Danske Daily: November 15, 2013
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