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Weekly Focus

10

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Eying the exit

Fri, Sep 4 2009, 16:39 GMT
by Allan von Mehren, Steen Bocian

Danske Bank A/S


Global Update

  • Data continues to point to a stronger Q3 in global growth. This week Global PMI strengthened further.
  • Western consumers are still lagging, although auto sales and consumer confidence added some hope this week.
  • Asia is still leading the global recovery, but signs are emerging that China could lose some steam in the coming quarters.
  • Except for a few countries, central banks are in no rush to hike rates. However, in most countries central bankers are starting to eye the exit.

Market movers ahead

  • Michigan consumer confidence and Beige Book will attract attention in the US
  • German industrial data to show further improvement
  • In Asia focus will be on Chinese investment data
  • In Denmark focus remain on the timing of the next narrowing in the policy spread
  • Inflation data are due in Norway and Sweden. Sweden also releases industrial production data.
  • Focus on monetary exit strategies and fiscal sustainability at the G20 meeting in the weekend

Published on  Fri, Sep 4 2009, 16:43 GMT


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Danske Bank  | Holmens Kanal 2-12, DK-1092 Copenhagen
http://www.danskebank.com/ | danskeresearch@danskebank.com

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