Danske Markets

The US job report is a key release ahead of the FOMC meeting on 16 December. A slower rate of job growth seems plausible and we estimate a November increase in non-farm payrolls of around 175,000,...

OPEC will most likely announce unchanged production quotas today, and thus the OPEC (Saudi) price war will continue near term. This is widely expected and oil prices should be little changed on this...

Draghi disappointed our and the aggressive market expectations despitedelivering a 'menu' of monetary easing measures.The easing from the ECB included A 10bp deposit rate cut to -0.30% (the MRO rate...

In a speech today, Riksbank deputy governor Per Jansson discussed possible adjustments of the policy framework for monetary policy. He more or less rejected any major changes of the current framework,...

Following the ECB meeting on 3 December we will host a conference call during which we will discuss the details of the menu of aggressive easing that Draghi is expected to deliver. We will also talk...

It is all about the ECB today. We expect Draghi to deliver a new 'menu' of aggressive monetary easing consisting of: a 20bp deposit rate cut accompanied by a two-tier deposit rate system, stronger...

Euro area HICP inflation surprised on the downside as it remained unchanged at 0.1% y/y in November (consensus and Danske Bank 0.2% y/y). Core inflation was also weaker than expected as it declined to...

The flash estimate for euro-area HICP inflation in November is due for release and we expect headline inflation to increase to 0.2% y/y. The increase should be driven by the volatile food and energy...

Against expectations, ISM manufacturing in November declined to 48.6 in November from 50.1, which is the lowest level since June 2009. It is the first time since 2012 that the ISM manufacturing index...

The latest IMM data cover the week from 17 to 24 November 2015.IMM positioning data released yesterday reveal the fifth consecutive week of bearish EUR builds sending speculative positioning in the...

Chinese manufacturing PMI for November was a mixed bag with the private Caixin PMI strengthening, whereas the official PMI from NBS fell to the lowest level in three years.The Caixin PMI manufacturing...

Market Movers In the US the ISM manufacturing index for November is to be released. Regional indices for November and the ISM order-inventory balance in October indicate that the ISM should not fall...

Welcome to the Danske Bank Markets Fixed Income Top Trades for 2016.No. 1: USD 3Y10Y swap flattener on hawkish Fed No. 2: Receive 1Y EONIA and pay 1Y1Y EONIA No. 3: EUR Govie RV: Long 10Y Ireland vs....

Four themes, eight trades - and a wild card For the seventh time, we present our year-end FX Top Trades for the coming year. The 2016 publication is based on four themes that we think will drive FX...

Last week the European credit market moved more or less sideways. iTraxx Main was unchanged at 72bp, while iTraxx Crossover widened marginally to 292bp.It was a fairly quiet week on the Scandinavian...

This week the G10 FX Financial Scorecard recommends buying AUD, NOK and GBP while selling CHF, USD and SEK.Last week's signals resulted in a 0.4% gain. In particular, the short CHF position performed...