Market Movers ahead
US retail sales and consumer confidence are expected to show that the recovery in consumption is continuing, albeit at a slower pace than in the spring.
Eurozone GDP growth was probably 0.2% in Q2, as in Q1, but increasingly driven by domestic demand, which bodes well for the economy going forward.
A series of data releases in China is expected to show increasing production growth, stable consumption growth and potentially slower debt growth.
Japanese GDP will show a sharp fall due to a hike in VAT rates.
Inflation data due in the Nordic countries - we expect a fall in Norway.
Global macro and market themes
Equities fell and bonds rose on the intensification of the Ukraine crisis, though this should also be seen as a correction following recent major equity price gains. The unpredictable political situation means the markets are also difficult to gauge.
EUR is under pressure, helped by the ECB.
Several economic figures in the US are at sharp recovery levels.
Despite the noise in the numbers, Chinese growth clearly seems to have accelerated in Q3.
German manufacturing has disappointed, but the domestic recovery continues.
Norway's economy has outperformed expectations, so a rate cut this year is very unlikely.
To Read the Entire Report Please Click on the pdf File Below