Market movers ahead
At the Jackson Hole Monetary Policy Conference, Ben Bernanke might reveal more details on the near-term path of monetary policy.
Greek Prime minister Antonis Samaras is due to meet François Hollande on Saturday for further discussions on extending the Greek rescue package.
German ifo expectations on Monday may move slightly lower despite the rise in German manufacturing PMI.
In China, the surprise fall in the flash HSBC manufacturing PMI from 49.0 to 47.8 suggests that NBS PMI could disappoint as well.
We expect monetary policy to be unchanged at next week’s meeting at Norges Bank. We expect the focus to be on the forward-looking communication.
In Sweden retail sales, trade balance, business and consumer confidence figures should provide vital information ahead of the next Riksbank meeting.
The rally lost some steam this week, as investors are holding their breath ahead of key decisions from the EU on Greece and from the ECB on intervention in Spain.
Flash estimates on global PMI indicate stabilisation in the US and Europe but further deterioration in China, reminding investors that the situation is fragile.
In the US, QE expectations resurged on the back of weaker-than-expected labour market and consumer confidence data.