In Sweden, the week ahead is full of interesting events. We have the NIER's Business and Consumer confidence surveys, trade balance data, financial market statistics (including household lending), retail sales and current account data.
But the main event will be the GDP numbers on Friday. Our current forecast points to zero growth in consecutive terms, which translates into 2% y/y. We see downside risks.
The Swedish Debt Office will tap in the 10 year segment this week.
We take a closer look at the political situation in Sweden ahead of the 3 December budget deadline. We warn about short-term upside risks to EUR/SEK also as the PPM money might weigh on the SEK over the coming week.
In Norway, the week's big release is the results of Norges Bank's latest regional network survey on Friday that could potentially have a big impact ahead of the December Norges Bank meeting.
The recent soft rhetoric from ECB president Mario Draghi and the Chinese rate cut on Friday both support our long-held view that EUR/NOK will edge lower in 2015.
Norwegian GDP numbers last week showed that growth was at trend in Q3.
In Denmark, the week brings preliminary national accounts data for Q3, where the main focus will be on GDP. We expect growth of 0.0% q/q, which corresponds to just under 0.4% y/y.
This year's November/December Danish mortgage refinancing auctions continue this week. The daily auction amounts will be lower than seen last week.
To Read the Entire Report Please Click on the pdf File Below