Market Movers
In Europe, preliminary March HICP inflation data from Spain and Germany are due today. This will give us the first indication on the important euro-area inflation for March to be released Monday next week. We expect HICP inflation in Germany to ease to 0.9% y/y from 1.0% y/y in February, driven mainly by a base impact from the timing of Easter. Inflation may even have declined to 0.8% y/y in March.
In the US, the most important releases will be personal spending and income data for February. Fed's Esther George (non-voter, hawkish) is also scheduled to deliver a speech on the economic outlook tomorrow afternoon.
The sovereign ratings of Austria, Denmark, Finland and Sweden have all been on rating agencies' review schedule for today. Only the rating of Denmark has yet to be confirmed but we do not expect any changes to be announced by Moody's.
Today, Norwegian unemployment and Swedish retail sales data are due.
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