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Fundamental Archives |
Written by Danske Bank |
Apr 13 12 15:53 GMT
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Weekly Focus: Strength of the Recovery Questioned
Market Movers ahead
- Retail sales and industrial production numbers most important US data releases.
- The German ZEW index has increased three months in a row, but is likely to show a setback when released on Tuesday. IFO expectations index is expected to remain unchanged around 103.
- G20 meeting on Friday to discuss an increase of the IMF funds for the eurozone.
- First round in the French presidential elections. Hollande and Sarkozy are clear favourites to meet in the second round.
- Riksbank monetary policy announcement - we expect unchanged rates, but close call after weak industrial production numbers.
- BoE Minutes from the last monetary policy meeting will be released on Wednesday and we believe the two doves, Miles and Posen, have reiterated their call for more asset purchases.
Global Update
- Focus is back on the euro crisis as pressure has built in particularly Spain with risk of contagion to Italy.
- On the data front the week has been mixed with soft US jobless claims but decent trade data. In China lower-than-expected GDP growth for Q1 was offset by stronger activity in March data, which points to a clear bottom in Q1.
- We still believe the global economy is on track for stronger growth
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