Preliminary European and US PMIs amongst market movers this week – Danske Bank
Research Team at Danske Bank, suggests that we have a very light data calendar ahead of us today where US markets are closed due to President's Day.
Key Quotes
“The data calendar for this week is also relatively light. The most interesting data points are preliminary European and US PMIs, which will give an indication of the condition of the industrial cycle. We look for an increase in the US, while the index for Europe is likely to show that the recent upward trend has ended. However, both indices will show that activity remains solid.”
“In the UK, focus is on the Article 50 debate in the House of Lords, which begins today. The bill is not expected to be delayed and the UK remains on track to trigger Article 50 by the end of March, perhaps at the EU summit in Malta on 9-10 March.”
“In the euro area, we expect slightly weaker consumer confidence in February in line with the turn in other sentiment indicators. That said, as the unemployment rate continues to decline, we expect consumer confidence to remain at a high level, thereby pointing to continued solid growth in private consumption.”
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.
