Market movers ahead
We expect the US to be back in the spotlight in the coming week with the Fed meeting, ISM and employment report. We look for decent job growth but a decline in the ISM.
We expect little change in Wednesday’s Fed statement.
We expect the Chinese PMI from NBS to rise moderately.
Global update
The Bank of Japan raises its inflation target from 1% to 2% but less easing than expected.
Germany is showing the way to recovery, with clear signs of improvement in the ifo index and PMI.
US Congress voted through a bill that postpones the reach of the debt ceiling until mid-July.
US data send mixed signals. Markit PMI was very strong whereas regional business surveys are more downbeat.
Chinese HSBC PMI rose further in January giving further evidence of recovery.
