Market Movers ahead
Eurozone PMI may struggle to climb higher but already indicates decent growth. We expect consumer confidence to continue to rise.
A lot of important data is due out in China - not least GDP growth for Q4 and the first PMI numbers for January.
In contrast, US data is thin on the ground, with Markit PMI and home sales being the most interesting.
Japan's central bank is set to meet but there is little prospect of any change to monetary policy.
In Sweden, employment and jobless numbers are due out.
Global macro and market themes
Inflation in the eurozone fell in December and the market is increasingly pricing in that the ECB will be incapable of getting inflation back up on target. This will put pressure on the ECB to ease monetary policy further.
Numbers from the US, eurozone and especially the UK indicate rising private consumption and a recovery. However, the Fed is signalling that a lot more will be required for US monetary policy to be affected.
Inflation is on the rise in Denmark and Norway, while the increase in Swedish inflation should prove temporary.
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