Market movers today
Inflation releases are a key focus today in the Scandies as well as the US, while geopolitical issues also will continue to be a key market issue.
While July headline inflation in Denmark is set to decline due to base effects, it will increase modestly in Sweden to 2.3% (from 2.2% in June), while the increase will be more pronounced in Norway rising from 2.6% in June to 2.9% in July (see next page)
US CPI core index likely rose +0.2% m/m in line with the recent trend, leaving the inflation rate unchanged at 2.3% y/y
The first estimate of UK GDP growth in Q2 is due out today, which we expect to show that growth rebounded to 0.4% q/q from 0.2% q/q in Q1.
In the emerging market space, look out for developments in the relationship between Russia and Turkey on the one side and the US on the other, in relation to the recent US sanctions against the two countries, which has caused a slump in their assets.
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