Market movers today
There is a relatively quiet week ahead in terms of data releases, including today.
In the euro area, we get numbers for the Sentix investor confidence today, which we expect to decline slightly to 27.6 in August from 28.3 in July. While business activity and economic confidence remain high, euro area PMIs did decline last week. Together with recent months without gains in the major stock indices, it poses the question of whether we have reached the top. A robust argument is the stronger EUR, which we expect to drag on the euro area growth outlook and become a headwind to inflation in the coming years (see Euro Area Research: Stronger EUR keeping inflation far from the ECB's target , 27 July).
German industrial production for June is also due for release today. The previous five months showed consecutive monthly growth in industrial production, with the figure for May showing 1.2%. We expect the June figure to be 0.5%. We expect industrial production to continue showing strong figures for Q3, as in Q1 and Q2. German business confidence is high and we continue to see strong activity levels for companies, which supports growth in industrial production.
In Denmark and Norway, we get industrial production data today. For more see the Scandi section on page 2.
To read the entire report Please click on the pdf File Below: