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The Week(s) Ahead - 23 December 2024 - 3 January 2025
These are the Key Macro Events for the upcoming week.
Eurozone - PMIs stabilise on services despite political uncertainty
Euro Macro - The eurozone composite PMI for December edged up, remaining in contractionary territory but moving closer to neutral at 49.5 (48.3 in November). ECB - Dovish comments signal easing path going forward.
The Week Ahead - 16 - 20 December 2024
These are the Key Macro Events for the upcoming week.
ECB signals it is on the road to normal
The ECB cut its key policy rates by 25bp, taking the deposit rate to 3%. The move was widely expected and priced in by financial markets. The communication around the rate cut suggests that the Governing Council is comfortable with the idea of bringing policy rates back to neutral levels, if its outlook continues to be confirmed.
Economic Outlook 2025 - Webinar - The year of the tariff
Video of ABN AMRO's Group Economics webinar on the economic outlook for 2025.
The week ahead - 9 - 13 December 2024
These are the Key Macro Events for the upcoming week.
Global manufacturing shows further improvement
Global manufacturing PMI rises back to ‘neutral’. EM outperformance continues, Demand picks up (also driven by EMs), and global excess supply continues. Subcomponents for input and output prices up, but remain far below 2021/22 peaks.
Euro Rates Watch - France political turmoil: Navigating Potential Collapse French Government
France is currently facing a significant political crisis that threatens the stability of its government and the approval of the 2025 Budget. As negotiations intensify, the far-right opposition, led by Marine Le Pen, has expressed willingness to support a no-confidence vote against the government if certain budgetary demands are not met. This precarious political landscape has heightened concerns about the country's fiscal outlook, with the likelihood of the public deficit exceeding the previously announced 5% deficit for 2025. The ongoing turmoil suggests that even if immediate government collapse is avoided, the French political environment will likely remain volatile, impacting economic growth and market confidence.
Eurozone services inflation is losing momentum. Will it continue?
Headline inflation ticks higher but core inflation surprises to the downside
The week ahead - 2 - 6 December 2024
These are the Key Macro Events for the upcoming week.