Tomorrow's Macro Roadmap: China & Norway inflation / Swiss sight deposits / BoE & ECB speak
Headline inflation in China is expected to moderate. Some analysts cite falling food prices as pork oversupply persists and soft services inflation ahead of the Labour Day holiday. PPI is expected to tick higher on the back of rising oil prices.
In Switzerland, the SNB will release its update on sight deposits for last week at 10:00 CET. They are far from a perfect proxy for SNB interventions in foreign exchange markets and are influenced by other factors, yet they remain worth monitoring. In its latest statement, the central bank said that
"in view of international developments, we are increasingly prepared to intervene in the foreign exchange market. We stand ready to intervene in the foreign exchange market to curb a rapid and excessive appreciation of the Swiss franc, which would jeopardise price stability."