Quiet start to the week with no tier-1 data released. Italian industrial production and the euro sentix survey are the only releases and are unlikely to have a market impact.
Focus this week turns to new Fed chairman Janet Yellen’s semi-annual testimony on monetary policy before the House’s financial committee on Tuesday and before the Senate Banking Committee on Thursday. We believe she will signal that the Fed is likely to continue tapering asset purchases but will be flexible and monitor labour market developments very closely.
Rest of the week main releases will be US retail sales (Thursday), euro-area Q4 GDP (Friday) and Chinese inflation (Friday).
Danish inflation has probably risen, while inflation in Norway is likely to have remained relatively high.
Read the full report: FX Daily
Danske Bank