Market movers in the week ahead – Danske Bank

Sandeep Kanihama FXStreet Contributor

Danske Bank analysts suggest that in the US, they are expecting manufacturing PMI to tick below 50 while on the Fed, they are looking out for the FOMC minutes and the Jackson Hole Conference.

Key Quotes

“In the euro area, the fragile manufacturing sector is not about to recover. We expect a further plunge in PMIs here. We will also watch the ECB minutes.”

“In Sweden, we will look out for the unemployment figures. We expect a sharp but probably temporary drop-back in unemployment.”

“In Norway, we expect the Q3 investment survey to confirm that oil investments will continue to boost the economy.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.