In Sweden, the week ahead is set to peak on Tuesday as Statistics Sweden publishes December 2013 inflation. It looks as if CPIF inflation in December will fall slightly short of the Riksbank's forecast, at 0.5% y/y instead of 0.6% y/y.
Last week industrial production and orders posted decent improvements in Sweden. It is probably too early to declare this as a turning point for Swedish industrial production - but that said - it could very well be so.
Last week Norwegian core inflation came in at 2.0 % y/y for December. It was a bit lower than expected by Norges Bank in the latest Monetary Policy Report, and will partly counteract the weaker NOK when calculating a new rate path in March, i.e. the rate path will be roughly as in December.
Sweden and Norway are both issuing government bonds this week. The Swedish auction should be fairly uneventful. But the Norwegian one is very interesting. Norges Bank is kicking off 2014 with a NOK4bn auction in the 10Y benchmark in a situation where the market has little appetite for Norwegian government bonds.
At this level for EUR/DKK it is a genuine risk that Danmarks National Bank will eventually need to intervene in the currency market and subsequently hike rates to support the krone.
To Read the Entire Report Please Click on the pdf File Below.
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Swedish Inflation And Upward Pressure On EUR/DKK
Published 01/13/2014, 01:59 AM
Updated 05/14/2017, 06:45 AM
Swedish Inflation And Upward Pressure On EUR/DKK
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