Danske Markets

The US manufacturing ISM index was outright weak with the headline falling to 51.1, from 52.7, so much weaker than expected. New orders plunged to 51.7, from 56.5. Employment was lower as well and the...

US crude oil production dropped 100kb/d in June - the second month in a row with declining production.OPEC's production remained elevated in August as the cartel stands firm on its strategy to...

Volatility in European credit indices was high last week, following the turbulence in global stock markets. Initial widening at the beginning of the week was followed by tightening and indices closed...

Market Movers Euro area manufacturing PMIs are due for release today. Focus will be on the first estimates in Italy and Spain. The Italian figure has increased to the highest level since 2011, while...

US data continue to show progress and the downward pressure on the unemployment rate is set to continue. Weak labour productivity and a low participation rate should ensure lower unemployment, even...

Euro area HICP inflation was unchanged at 0.2% y/y in August against consensus expectations of a small decline to 0.1% y/y . Core inflation was unchanged at 1.0% y/y, which was also better than...

We have changed our call on the Riksbank, now seeing a 50/50 chance of a cut on Thursday.Risk in EUR/SEK is skewed on the upside into the Riksbank and ECB meetings. Fundamentally, we like this trade...

This week the scorecard recommends buying CHF, NZD and EUR, while selling USD, NOK and JPY.Last week's signals resulted in 0.7% loss. The short NZD performed well, while the long GBP and AUD positions...

As expected from the price movements seen in FX markets early last week, speculators unwound short EUR and long USD positions alike as the China-commodities sell-off accelerated last Tuesday...

In Sweden, the main event in the week ahead is the Riksbank's monetary policy announcement on Thursday (due at 09:30 CEST). Even though our main scenario suggests the Riksbank will not act until...

FOMC Vice Chair Fischer delivered a more hawkish speech at the Jackson Hole Symposium than what we heard from NY Fed President Dudley last week.The continued low level of inflation despite less slack...

Market Movers Focus remains in particular on the economic situation in China. Financial markets are keeping a close watch on news out of China as well as hints from major central banks about the...

Oil is losing its anchorNew exchange-rate regime in China - hedge CNY exposure via CNH market Fed on hold for now - limited USD strength from here ECB challenged by return of deflationary pressures -...

A gradual recovery in China and oil prices should stabilise the emerging market turmoil.US and euro growth data still robust. Rising pressure for more QE from the ECB points to lower yields short...

A calendar of key events in the Commodities Market for the week ahead.To Read the Entire Report Please Click on the pdf File Below

A brief look at the Riksbank, ECB and the Fed To Read the Entire Report Please Click on the pdf File Below