Market movers ahead
Global update
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- U.S. consumers are back in focus.
- FOMC minutes to give more clues on Fed outlook for QE.
- Italian politics set to attract attention again, as President Giorgio Napolitano begins meetings with the advisers he appointed.
- Chinese inflation should fall markedly for March, to 2.3%, as the boost from Chinese New Year fades again.
- In Sweden, focus turns to industrial production, unemployment and CPI. Inflation data also takes centre stage in Norway.
Global update
- The Bank of Japan took a very decisive step increasing stimulus, underpinning our view of more weakening of the JPY.
- The ECB prepared the ground for new stimulus at the meeting in May. Focus is on non-standard measures but a rate cut is also in play.
- The U.S. ISM for March disappointed, suggesting we could see a soft patch in Q2 before rebounding again in the second half.
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