Main focus will be the manufacturing and service PMIs for Germany, France and the euro area as a whole. We expect European PMIs to improve for the fourth consecutive month, underscoring that the euro area has stabilised and has started to recover moderately.
In the US the weekly initial unemployment claims should be watched closely this week after the sharp drop to just 320K last week. If it turns out that it was not just a temporary blip, it will suggest a strong US labour market. The annual Jackson Hole conference for central bankers starts today. No prominent Fed speakers are scheduled, so we doubt there will be any new insight into Fed's monetary policy thinking.
In Sweden we expect the unemployment rate to be unchanged at 8.0% in July. If we are right it suggests Riksbanken underestimates the strength of the labour market and we could see some well needed support to the krona. Riksbank deputy governor Kerstin af Jochnick will be speaking at 10:00 CET and Norges Bank deputy governor Qvigstad will be speaking at 09:00 CET.
To Read the Entire Report Please Click on the pdf File Below.
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Danske Daily: Expect European PMIs To Improve
Published 08/22/2013, 07:11 AM
Updated 05/14/2017, 06:45 AM
Danske Daily: Expect European PMIs To Improve
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