FOMC Minutes, Riksbank and Eurozone consumer confidence amongst market movers – Danske Bank

Apart from tonight's FOMC minutes, today's data calendar is dominated by Riksbank meeting and euro area consumer confidence notes analysts at Danske Bank.

Key Quotes

“While equity markets have been supported by a synchronised global recovery, we increasingly see a risk of markets having become too complacent about the risk of China-related stress and financial turmoil resurfacing at the beginning of 2017.”

“In the Scandies today, focus will not least be on the Riksbank's monetary policy meeting in Sweden where we expect a dovish message with a QE expansion and possibly a 10bp rate cut. In Norway, LFS unemployment will shed more light on the status of the Norwegian labour market. Finally, we will also get employment data and consumer confidence from Denmark.”

“Today, we are due to get the FOMC minutes from the December meeting. It will be interesting to see what discussions the members had about the outlook for 2017, as the Fed was more hawkish than expected at last week's meeting.”        

“In the euro area, consumer confidence figures are due to be released. Consumer confidence has remained surprisingly high and resilient to the political turmoil related to Brexit and Donald Trump. However, with the slower employment growth and increased oil price, downside risks may drag on December consumer confidence.”