Market Movers ahead
An important meeting is coming up in the Swedish Riksbank, as it has to decide on whether to end QE and it is a close call as to what it will chose.
Higher wage growth is key if the ECB is to realise its inflation target - therefore, euro area wage data for Q3 due out on Tuesday should be watched closely.
The most important inflation measure in the US is likely to show slightly higher inflation.
The Bank of Japan is expected to announce unchanged policy but might comment on recent tightening speculation.
Global macro and market themes
Recent economic data releases support our view that the global expansion continues, not least in the euro area, where PMIs have been very strong in Q4.
It is too early for markets to price out Brexit risk just yet, but it is positive that negotiations are moving forward.
Central bank meetings support our view that global monetary policy tightening will be gradual.
The environment is positive for risk assets such as equities - we believe EUR/USD will move higher and that yields will stay low.
Norges Bank will hike rates late next year.
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