In the data calendar the main event is US consumer prices for December. We expect inflation to accelerate to 1.5% y/y from 1.2% y/y mainly on the back of higher food prices. US consumer prices have become a bit more interesting after the Fed in its qualitative forward guidance linked a future interest rate decision more explicitly to the development in inflation. The NAHB housing market index, the Philadelphia Fed business survey and initial unemployment claims should also get some attention.
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Danske Bank