Market Movers ahead
- In Europe focus will continue to be on Greece. The scheduled data releases for next week suggest a relatively quiet week coming up.
- In the US the agenda next week is heavy. Amongst a wide range of economic data the most important will be retail sales and CPI for March. Retail sales appear to have been very strong in March.
- There is increasing speculation that China will move on the exchange rate before the Chinese president's arrival in Washington this week to participate in the Nuclear Security summit.
- Greek bond yields have soared to new highs above 7%. There is no confidence in the EU/IMF back stop agreement and stabilisation appears hard to achieve without actual help in terms of loans coming forward.
- Encouraging data in the US. The ISM manufacturing index jumped to a new cycle high in March and employment growth returns to positive territory.
- The decision by the US Treasury to delay the publication of its review of its main trading partners' exchange rate policy has secured that the intensifying political game about a revaluation of the yuan will not be derailed.
WeeklyFocus
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