In Sweden, the week ahead is almost void of interesting data: the sole exception being the Swedish National Debt Office (SNDO) publishing May Government net lending numbers (Wednesday, at 09.30 CEST).
The Swedish debt office will tap the Jun '22 and the May '25 bonds.
In Norway, data have been all over the place recently, so the results of Norges Bank's regional network survey (Tuesday) will be even more important than usual.
Also coming up are inflation figures for May on Friday, but we expect them to be somewhat overshadowed. We expect the core rate to slow to 3.1% y/y, due mainly to base effects. This would confirm our assumption that core inflation will hold well above the target level for several months to come, but that the annual rate will come down somewhat. This would mean that inflation becomes less important for rate-setting during the autumn.
Norges Bank is expected to tap yet again in the 10Y bond (announcement Monday).
In Denmark the statistical office releases figures for inflation in May on Friday. We expect consumer prices to climb 0.2% m/m and 0.1% y/y.
Current account and foreign trade data for April will be released on Thursday. Denmark has been running big current account surpluses for years, but March actually brought a deficit due to large dividend payments. This is entirely normal for March, however, and we generally also see a strong rebound in the current account balance from March to April.
The Danish currency reserves data for May revealed that the Nationalbank had to spend DKK23.6bn during the month to rein in the krone. This is quite a lot and reflects strong interest in buying kroner in May.
To read the entire report Please click on the pdf File Below