It is a week filled with plenty of events for the market as there are three central bank meetings kicking off with Australia on Tuesday, Canada on Wednesday and the ECB on Thursday together with plenty of economic data with focus on flash estimates for EU inflation on Wednesday and US non-farm payrolls on Friday. On top of this, we have a string of Fed speeches with key focus on Yellen's speech on Thursday and an OPEC meeting on Friday. We expect Australia and Canada to be on hold but we expect a 20bp cut from the ECB, where consensus is just looking for 10bp. See more in our ECB Preview , 27 November.
Today, we have preliminary inflation data from Germany and Italy, final Q3 GDP-data for Portugal and US Chicago PMI data.
There are also plenty of market movers in Scandinavia this week, while we are waiting for the Riksbank and Norges Bank meetings mid-December. Today, both Sweden and Denmark are set to release Q3 GDP. We look for softer GDP growth in both countries. Later this week we have DKK currency reserves and the regional survey from Norway, which is a key indicator for Norges Bank.
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