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Beecroft: What European and US data is telling us

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Another important data week for both Europe and the US. Nick Beecroft, Chairman of Saxo Capital Markets, joins us to give us his thoughts and views on Eurozone CPI and US GDP, he thinks that "it's too soon to expect" action from the ECB but expects QE either late 2014 or early 2015. 

US GDP is 'Goldilocks', neither too hot nor too cold, according to Nick Beecroft who predicts a 3.5% figure to make up for the 2.9% decline in the first half of this year, largely blamed on the extreme winter weather. A weak housing market casts a shadow over the re-bound in GDP however and inflation has also been surprisingly low.