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- New York 09:33
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Weekly Focus
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Mixed data, broader recovery
Fri, Oct 9 2009, 14:46 GMT
by Allan von Mehren, Steen Bocian
Global Update
- Global manufacturing production data was more mixed, but did on balance improve. With regard to orders, data point to improvement in most areas.
- The service PMI improved consistently indicating a broader-based recovery in developed countries.
- In the US improving US claims and chain store sales data added some optimism about the state of the consumer.
- In the UK the lift-off in house prices continues. This will probably keep the BoE from launching further easing measures.
- The ECB and the BoE kept policy measures unchanged. Signs of increasing optimism were seen from Jean-Claude Trichet at the press conference.
Market movers ahead
- In Sweden the main event is September CPI.
- US retail sales are expected to be dragged into the red by a negative payback from the “clunkers” programme, but the report is expected to show underlying improvement.
- Germany ZEW and regional US indicators are expected to indicate further optimism.
- FOMC minutes will provide interesting detail about FOMC thinking and updated economic projections.
- Speeches from the Fed’s Kohn and Dudley and a speech by the ECB’s Trichet will be important events.
- Euroland and US inflation data will take a back seat.
- In Asia, the Bank of Japan is expected to keep its target rate unchanged, but quantitative easing (QE) measures could be cut back.
Published on Fri, Oct 9 2009, 15:13 GMT
Archive
- Squaring positions
Published On Fri, Nov 20 2009, 16:45 GMT - German locomotive at full steam
Published On Fri, Nov 13 2009, 17:59 GMT - More short-term strength
Published On Fri, Nov 6 2009, 17:10 GMT - Mood swings
Published On Fri, Oct 30 2009, 18:31 GMT - Upbeat earnings overshadow mixed data
Published On Fri, Oct 23 2009, 17:42 GMT
Danske Bank
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This publication has been prepared by Danske Bank for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Bank's research analysts are not permitted to invest in securities under coverage in their research sector. This publication is not intended for private customers in the UK or any person in the US. Danske Bank A/S is regulated by the FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange. Copyright () Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.Related reports
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