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Danske Daily: Growth Maintained In Germany, Focus On Data In US

Published 03/18/2014, 06:38 AM
Updated 05/14/2017, 06:45 AM

Focus continues to be on developments in the Ukraine/Russia conflict where the outcome is still unclear. Unless we see an escalation markets may lose interest soon, though, and focus on other things.

On the data front, German ZEW is expected to decline for the second month in a row. However, levels are still high and point to robust growth.

In the US attention will be on CPI inflation and housing starts. Headline inflation is expected to decline to 1.2% y/y from 1.6% y/y in January, mostly due to base effects, though. Core inflation should rise 0.1% m/m leaving the annual rate unchanged at 1.6%. Housing starts for February are expected to show a slight rebound following the significant drop of 16% in January. We see a slight upside risk to the consensus estimate of 3.5%.

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