- EU foreign ministers meet to discuss Russia. There is an expectation that sanctions will be escalated, but the extent is unclear. Economic considerations appear to be superseded by diplomatic and strategic considerations in the debate.
- US consumer price inflation forms the main data release. Although the figures are forecast to be relatively benign, there is evidence of modest price pressures building. There is a prospect of several months of above expected inflation at some point.
- More US housing data makes its way out, along with the Richmond Fed survey of manufacturing sentiment. Other regional US indicators have pointed to modest economic growth at the start of the third quarter.
- UK business sentiment from the CBI is due, and should show ongoing expansion. Meanwhile a (Westminster) Parliamentary committee was rather critical of the idea of an Anglo-Scottish monetary union in the event of Scottish independence.
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