German IFO and US Durable Goods among major market movers - Danske Bank
|The Danske Analysts note that “Markets will watch out for further trade war escalation and 'tit-for-tat' headlines, after China on Friday announced tariff hikes on US imports and President answered in kind”, among the first-tier macro news from Germany and the US.
Key Quotes:
“In Europe focus is on the German Ifo index for August. Last week's PMI figures finally signalled some stabilization, but the ZEW survey gave a different signal. We think the battered German economy is not yet out of the woods and hence look for a further deterioration in today's Ifo expectations and current situation assessment on the back of ongoing geopolitical uncertainties.
In the US, preliminary capex orders in July are due, which will be interesting in the light of the ongoing manufacturing slowdown and trade war uncertainty. It seems that many companies are reluctant to invest in the current environment.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.