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Written by Danske Bank |
Apr 13 12 15:53 GMT
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.
- 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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