The Danske Bank analysts provide brief insights on the important events of note, scheduled this week.
We have a slow start to a very important week today. Today we get euro area monetary aggregates and loan data and Swedish trade balance is also released. After years of negative prints, the trend is once again positive, surely helped by the weak SEK. Our forecast is for a SEK5bn surplus, but this should not be a market mover.
Focus this week will be on the Brexit deadline on Thursday (although we expect another extension) and FOMC meeting on Wednesday (where we expect a cut). We also have Bank of Japan policy meeting where markets price around some 50% probability of a rate cut.
On Friday, we expect a weak US job report, with an increase of just 50,000. Preliminary Q3 GDP data for both the euro area and the US are due out.
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