Market movers today
In the US , ISM manufacturing is due out today. It has been very high for a long time compared to both hard data and the Markit PMI manufacturing index. It remains our base case that ISM will fall over in the coming months and we expect that the index was 57.3 in August versus 58.1 in July.
In the UK , BoE Governor Mark Carney, Chief Economist Andy Haldane and MPC members Silvana Tenreyro and Michael Saunders testify before parliament's Treasury Committee today. Watch out for any comments on whether to expect further hikes in the short term. We think the next hike is unlikely to occur before May.
In Denmark , we get currency reserves data this afternoon. We are not far from the levels at which Danmarks Nationalbank has previously intervened in support of the Danish krone. As we still did not reach that level in August, we think Danmarks Nationalbank did not intervene last month.
To read the entire report Please click on the pdf File Below: