Oil and eurozone fears to continue driving global asset prices
WEEKLY MARKET COMMENTARY |
Falling oil prices, risks surrounding the Greek election on Jan. 29, economic weakness and deflation in the eurozone are likely to drive asset prices this week even with a heavy slate of U.S. economic reports on the docket. U.S. economic reports this week will include an update on inflation, consumer confidence, retail sales, regional manufacturing conditions and industrial production. Volatility in equity markets, a stronger greenback and lower long-term yields in Germany and the U.S. reflect a safe-haven move that isn't likely to abate until oil prices find a floor and the question of whether Greece will remain in the eurozone is resolved.
Also on tap this week, the U.S. Federal Reserve will publish its Beige Book economic report for its 12 districts, while four Federal Reserve speakers, including Atlanta Fed President Dennis Lockhart on Monday and St. Louis Fed President James Bullard on Friday, will provide their economic outlooks for the U.S. Download the entire report to learn more.