Danske Research Team
Danske Bank A/S
Market movers ahead
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The US government shutdown continues. Look out for more negotiations.
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US regional surveys from Philadelphia and New York (Empire) should give more clues to how much manufacturing is slowing down.
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In the UK, the House of Commons will vote on Theresa May's Brexit deal on Tuesday. We expect the House to vote it down.
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We expect Chinese money and credit data to show how much the monetary easing is feeding through to the economy.
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In Scandinavia, focus turns to Swedish inflation numbers and house price statistics.
Weekly wrap-up
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US recession fears abated somewhat, as the Fed struck a more dovish tone and job growth is solid.
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Risk sentiment improved with equities gaining and bond yields and oil prices moving higher.
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US and China concluded another round of talks in Beijing this week. Negotiations continue according to plan and the top negotiators on both sides plan to meet later this month.
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Theresa May suffered another heavy defeat on Brexit. Uncertainty prevails.
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A softer tone from the Fed weakened the USD.
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Editors’ Picks
GBP/USD resumes upside toward 1.3300 ahead of BoE rate call
The GBP/USD gains traction and approaches 1.3300 in European trading on Thursday, having found buyers near 1.3150. A broad US Dollar pullback and a rebound in risk sentiment offer support to the pair ahead of the BoE policy announcements.
EUR/USD rises further toward 1.1200, focus shifts to ECB-speak
EUR/USD stays strongly bid toward 1.1200 in the European session on Thursday. The pair capitalizes on a renewed US Dollar retreat and an upbeat mood. Traders digest the Fed's dovish outlook, bracing for ECB-speak for fresh trading incentives. US data are also eyed.
Gold price jumps back closer to all-time peak, $2,600 remains in sight amid fresh USD weakness
Gold price regains positive traction following the previous day's pullback from the all-time peak and builds on its steady intraday ascent heading into the European session on Thursday.
BoE expected to keep interest rate unchanged at 5% as price pressures persist
After a close call in August, the Bank of England’s September interest rate decision is keenly awaited for fresh cues on the bank’s future policy action and the pace of its bond sales.
Bitcoin surges to $62,000 mark after 50 bps Fed rate cut
Bitcoin and Ripple eye for a rally as they break and find support around their resistance barrier. Meanwhile, Ethereum demonstrates signs of recovery as it approaches a critical resistance level, indicating that an upward rally could be on the horizon if it successfully breaks through.
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