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Danske Daily: Markets Focus On ECB Meeting

ByDanske Markets
Published 12/05/2013, 04:54 AM
Updated 05/14/2017, 06:45 AM

Market movers today

Market focus will be on the ECB meeting. We expect more easing - just not at this meeting. Instead Draghi is likely to simply speak dovishly and signal that the ECB is ready to act to ensure inflation expectations remain well anchored. This should be enough to keep EONIA rates in check.

Ahead of the US labour market report tomorrow, focus will be on initial jobless claims. Last week the figure continued lower after the US shutdown caused some distortions. Separately, we expect US GDP growth for Q3 to be revised higher.

Both Fed's Lockhart and Fisher are due to speak on the economy this afternoon. Each will take questions from the audience and here any hints about tapering will be followed closely, especially in relation to Lockhart who is considered to be in the less hawkish camp.

In the UK, the Bank of England's meeting should be a non-event with unchanged policy and, most likely, little news on MPC's views of the economy.

Norges Bank meeting in focus in the Scandi region. We look for a dovish twist once again, including a lower rate path.

To Read the Entire Report Please Click on the pdf File Below.

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