The calendar is somewhat lightweight, with U.K. industrial production figures the key event. U.K. data is in focus ahead of the all-important Bank of England meeting in August, when new governor Carney may introduce a more explicit form of forward guidance. However, should data continue to surprise on the upside, it may be difficult for the newcomer to do the great turnaround on the MPC.
Focus will also be on developments in Egypt, which has set out a timetable for parliamentary and presidential elections for early 2014. Both the Suez channel and the Sumed pipeline, which are controlled by Egypt are reportedly unaffected by the unrest but oil prices could react swiftly to any indications of infrastructure closures.
The ECB's Asmussen speaks this afternoon. From Draghi's talk yesterday it seems the ECB is largely satisfied with the market reaction to Thursday's rate meeting, so the need for further verbal intervention at this stage should be limited. Note that German chancellor Merkel will speak at a CSU event ahead of this autumn's election.
To Read the Entire Report Please Click on the pdf File Below.
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Focus On U.K. Data And Developments In Egypt
Published 07/09/2013, 08:15 AM
Updated 05/14/2017, 06:45 AM
Focus On U.K. Data And Developments In Egypt
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