Danske Daily - US And China's Trade Truce Lifts Markets

Published 12/03/2018, 01:25 AM

Market movers today

We have a number of important events ahead of us this week, but first, markets will heave a sigh of relief after the 90-day ceasefire was agreed between Trump and Xi (for more coverage, see our flash comment: US-China trade - Ceasefire paves the way for the real deal in 2019 , 2 December 2018).

Today, US ISM manufacturing data is being released. We think Markit PMI is a better indicator for manufacturing as ISM manufacturing has been too high compared to reality over the past couple of years. We continue to believe ISM should move lower but it has been stubbornly high for longer than expected.

Later this week, the labour market report on Friday will be even more closely monitored than normal after the latest soft indications from the Fed.

In Scandi, we are due to get PMI from both Sweden and Norway today, see page two for details on the Swedish PMI.

To read the entire report Please click on the pdf File Below..

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