In view of analysts at Danske Bank, the key event today will be the Norges Bank meeting, where both consensus and Danske are looking for a 25bp rate hike.
Key Quotes
“The Bank of England also meets, but in our view, the bank is firmly on hold. It is one of the small meetings without an updated inflation report or a press conference so we don’t expect much change in the bank’s message. The UK also releases May retail sales.”
“A two-day EU summit starts today, where the main focus will be on potential clarity on the front-runners for the EU Commission presidency, ECB presidency other EU top positions. We will also monitor if the EC will formally open an EDP against Italy. On the data front, we expect Euro area consumer confidence for June to stay unchanged.”
“The US Philly Fed survey and initial jobless claims will add to indications of how much the US economy is slowing. The PMI and Empire indices have pointed to weakness.”
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