Market movers ahead

  • In the euro area, we are due to get the last inflation input before the ECB meeting in September, setting the scene for the monetary stimulus package. We expect August inflation to be unchanged from July inflation.

  • We do not expect to see any improvement in numbers out of Germany, as the Ifo index is set to decline further on the back of ongoing geopolitical uncertainty.

  • In the US, we are set to get preliminary capex orders for July, which will be interesting in light of the ongoing manufacturing slowdown and trade war uncertainty.

  • Focus remains on Brexit and whether the anti-hard Brexiteers can find a common way forward to block Prime Minister Boris Johnson delivering a no-deal Brexit.

  • Danish data next week should shed light on what has been driving the strong Q2 GDP reading. In contrast, we expect Swedish data to show weakness.


Weekly wrap-up

  • We have published an update on our outlook for the global economy. With no solution to the trade war in sight, we have downgraded our growth outlook.

  • The FOMC minutes from the July meeting revealed a very divided Fed on the topic of further easing, inflation expectations continue to slide and US PMI manufacturing moved below 50.

  • In the euro area, the economic backdrop remains gloomy and the ECB confirmed that it plans to unveil a stimulus package in September but did not give any clues on the exact design and magnitude of policy measures included.


Download The Full Weekly Focus

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD turns below 1.10 as market mood eases

EUR/USD has dropped below 1.10 as the market mood improves. Earlier, it hit three-week highs as the stock market crash and rush into bonds is raising the chances of the US Fed cutting rates. Further coronavirus headlines are awaited.


GBP/USD hits new 2020 low amid Brexit rhetoric, coronavirus headlines

GBP/USD has dipped below 1.2850, hitting a new 2020 low as concerns about a no-trade-deal Brexit are weighing on the pound. Coronavirus-linked USD weakness is minimal in this pair.


XAU/USD tumbles near two-week’s lows, sub-$1600/oz

Gold has been dropping sharply this Friday while reaching the 200 SMA on the four-hour chart. XAU/USD bulls gave up as sellers took the market down sharply. The bears seem to be in charge and more down could potentially be expected. 

Gold News

WTI remains under pressure around $45.00

Nothing new around crude oil prices, with rising concerns on the Chinese COVID-19 and its potential impact on the economy and the demand for the commodity keeping traders’ sentiment well depressed.

Oil News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex Majors