Market movers today
Bundesbank Vice President Sabine Lautenschläger is scheduled to testify before the European Parliament's Economic and Monetary Affairs Committee at 19:00 this evening on her nomination to the ECB board where she replaces Jörg Asmussen. While Asmussen often attempted to soften the differences between the ECB and the Bundesbank, Lautenschläger's views are believed to be closer to Bundesbank president Jens Weidmann's view, so her possible appointment to the ECB board could be a move in a more hawkish direction.
In the US Atlanta Fed President Dennis Lockhart (neutral, non-voter) is scheduled to speak this evening at 18:40 about the outlook for the US economy. Lockhart argued last year in public that Fed tapering should be started already in September, so he could also be one of the members arguing for a faster termination of Fed's bond purchase programme.
The data calendar is very light. Only interesting release scheduled is industrial production for November in Italy, where we expect a slight decline on the back of a solid increase in October. China is also expected to release credit and money supply data somewhere between today and Wednesday.
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