Danske Research Team
Danske Bank A/S
Market Movers ahead
-
We expect the ECB to officially end the QE programme when it meets next week.
-
Flash PMIs for the US, Japan and euro area are due for release next week. In particular, the euro area PMIs are interesting given the negative momentum in Europe right now.
-
In the US, CPI inflation and retail sales data for November are due. Fed's blackout period starts ahead of the FOMC meeting in the week after next.
-
In the UK, the vote in the House of Commons on Theresa May's Brexit deal takes place on Tuesday. More than 400 MPs have said they will vote against the deal.
-
In Denmark and Sweden, inflation data for November are due out next week.
-
In Norway, we expect Norges Bank to stay on hold on Thursday but we expect the bank to confirm its plans to tighten monetary policy further in March.
Weekly wrap-up
-
Global economic key figures were slightly stronger than expected this week.
-
The US and China agreed on a 90-day ceasefire in the trade war.
-
Italy negotiations with the EU are ongoing on the size of the budget deficit.
-
Stock markets had a volatile week as the rally following the trade war ceasefire fizzled out on renewed uncertainty.
-
US 10Y Treasury yields fell sharply on growth fears and uncertainty over the trade agreement. In euro periphery markets we saw spread tightening on softer signals from the Italian government.
-
USD/CNY saw the biggest two-day decline since 2005.
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.
Recommended Content
Editors’ Picks
EUR/USD rises toward 1.0700 after Germany and EU PMI data
EUR/USD gains traction and rises toward 1.0700 in the European session on Monday. HCOB Composite PMI data from Germany and the Eurozone came in better than expected, providing a boost to the Euro. Focus shifts US PMI readings.
GBP/USD holds above 1.2350 after UK PMIs
GBP/USD clings to modest daily gains above 1.2350 in the European session on Tuesday. The data from the UK showed that the private sector continued to grow at an accelerating pace in April, helping Pound Sterling gather strength.
Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets
Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
US S&P Global PMIs Preview: Economic expansion set to keep momentum in April
S&P Global Manufacturing PMI and Services PMI are both expected to come in at 52 in April’s flash estimate, highlighting an ongoing expansion in the private sector’s economic activity.