In Europe, preliminary March HICP inflation data from Spain and Germany aredue today. This will give us the first indication on the important euro-area inflationfor March to be released Monday next week. We expect HICP inflation in Germanyto ease to 0.9% y/y from 1.0% y/y in February, driven mainly by a base impact fromthe timing of Easter. Inflation may even have declined to 0.8% y/y in March.
In the US, the most important releases will be personal spending and income datafor February. Fed’s Esther George (non-voter, hawkish) is also scheduled to delivera speech on the economic outlook tomorrow afternoon.
The sovereign ratings of Austria, Denmark, Finland and Sweden have all been onrating agencies’ review schedule for today. Only the rating of Denmark has yet to beconfirmed but we do not expect any changes to be announced by Moody’s.
Today, Norwegian unemployment and Swedish retail sales data are due.
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Danske Bank