Danske Daily - 14 July 2015

Published 07/14/2015, 06:11 AM
Updated 05/14/2017, 06:45 AM

Market Movers

Progress in Greece towards passing the legislation needed to start the formal ESM negotiations through the Greek parliament - deadline is Wednesday midnight.

US retail sales for June will be released today. Minutes of the June FOMC meeting showed the Fed's concern that US consumers have permanently shifted their savings rate higher. Todays data will give some clarification on this. We expect retail sales to increase 0.2% m/m due to weak auto sales and the core measure ex autos, gasoline and building materials to increase 0.3% m/m.

We expect the German ZEW to surprise to the upside as we look for a rebound in both the expectations index and the current situation after the declines in recent months. We estimate that euro area industrial production increased 0.2% m/m in May in line with consensus.

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