Last week was an eventful one, with equity markets sliding due to fresh concerns over the US-China trade saga, as well as the inversion of the US Treasury yield curve. What’s more, on Friday, OPEC and its allies agreed to cut production by 1.2mn bpd, which helped oil prices to rebound. This week appears very busy as well, with the epicenter being the Brexit vote in the UK Parliament. We also have three G10 central banks holding their last meetings for the year: the Norges Bank the SNB and the ECB.
On Monday, during the European morning, we get Norway’s CPIs for November. Expectations are for the headline rate to have stayed unchanged at +3.1% yoy, but for the core one to have rebounded to +1.8% yoy from +1.6% in October, after falling to that print from September’s +1.9%. It would be interesting to see whether the rebound in the core rate would be enough for Norges Bank officials to maintain their view for another rate increase in Q1 2019, or whether the slowdown in economic growth would prompt them to change their mind (See Thursday).
From the UK, we get industrial and manufacturing production data for October. Industrial production is expected to have slid 0.4% mom after...
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