Cyprus rocks the boat

Market Movers ahead

  • Cyprus will be the main market mover next week – Tuesday appears to be the deadline f or reaching an agreement

  • The ECB is expected to stay on hold but weak data has increased the chances of a rate cut

  • In the US we expect another solid labour market report for March

  • The Bank of Japan is expected to deliver another round of aggressive easing with new Governor Kuroda at the helm

  • In China the NBS manufacturing PMI is also expected to rebound markedly

Global Update

  • Insignificant Cyprus rocks the boat

  • Weak PMIs signal that the euro area remains in recession

  • The Fed maintains dovish message despite stronger data

  • In China rebounding HSBC PMI suggests the recovery has not lost steam

  • More policy flexibility for BoE but inflation target maintained


  • Danske Bank has published new economic forecasts in Global Scenarios: US take-off to drive global recovery and Nordic Outlook - March 2013

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