Global Update
- Data continues to point to a stronger Q3 in global growth. This week Global PMI strengthened further.
- Western consumers are still lagging, although auto sales and consumer confidence added some hope this week.
- Asia is still leading the global recovery, but signs are emerging that China could lose some steam in the coming quarters.
- Except for a few countries, central banks are in no rush to hike rates. However, in most countries central bankers are starting to eye the exit.
Market movers ahead
- Michigan consumer confidence and Beige Book will attract attention in the US
- German industrial data to show further improvement
- In Asia focus will be on Chinese investment data
- In Denmark focus remain on the timing of the next narrowing in the policy spread
- Inflation data are due in Norway and Sweden. Sweden also releases industrial production data.
- Focus on monetary exit strategies and fiscal sustainability at the G20 meeting in the weekend
