In the US industrial production is due for release and we expect an increase of 0.2%m/m in October. In September industrial production was quite high at 1.0% m/m,driven by high readings in mining and utilities, but the underlying numbers for miningand utilities do not point to the same upward trend.
In the euro area a number of prominent ECB members are scheduled to speak andfocus will be on comments about more easing from the ECB. We believe it will bedifficult to expand the balance sheet sufficiently and we expect the ECB to reach formore tools in early 2015. However, for the rest of 2014 the ECB is waiting for theresults of the TLTRO auction in December.
Main market movers the rest of the week will be global PMIs, German ZEWexpectations, US housing data, minutes from FOMC and MPC meetings and Bank ofJapan’s monetary policy announcement.
In Sweden unemployment is due for release and in Denmark the mortgage refinancingauctions start.
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