Danske Markets

Market movers todayIn the US the Fed will release its Labour Market Conditions Index (LMCI) for December based on data from Friday's labour market report. According to the LMCI indicator the...

The main event in Sweden is the inflation numbers. We estimate December inflation in Sweden a tenth below the Riksbank estimate, both for CPI and CPIF, possibly with a slight downside risk. We expect...

Market Movers Ahead The risk of deflation will again be in focus in the coming week, as inflation figures are scheduled for release in the US, Sweden and Denmark. US inflation in December 2014...

The December employment report showed job growth of 252,000 and net revisions to the figures for the two previous months of 50,000. Despite the solid gain in employment, wage inflation continues to...

The annual rotation of voting rights effective from the 27-28 January FOMC meeting gives more power to the doves on the committee. Notably, the two überhawks, Charles Plosser and Richard Fisher,...

As expected the euro area went into deflation in December as inflation fell to -0.2% y/y. It is likely to move even further into negative territory in coming months – we expect -0.5% in March....

• Low inflation, but BEI trades even lower... • BEI spreads in the mid-segment of the curve too low. • The hay days are over for the mid-segment – expect more curvature in 2015....

Market movers todayThe oil price continues to be the main focus. Yesterday the price steadied after the recent slide. This appeared to be partly driven by a surprise drop in US stockpiles, as shown by...

We have been calling for a lower EUR/USD for a long time but it has moved faster than we had expected. The collapse in oil prices, political uncertainty and ECB QE expectations have weighed more on...

Market movers today Euro Flash inflation is expected to drop to -0.1% y/y for December from 0.3% y/y in November. It is mostly driven by energy prices as core inflation is expected to be flat at 0.7%...

• EUR/USD likely to decline further on Greek risks and ECB QE. • We recommend investors to stay long USD/CHF. • We raise our target to 1.0600 and stop-loss to 0.9700. Strategy In FX Top...

Job report preview We expect non-farm payrolls to show an increase of 195,000 in December , below the consensus estimate at 240,000. The expectation of a weaker number in December is due mainly to...

Below is an overview of US data over the holiday season. Overall, US data continues to surprise on the upside, although there were a few negative surprises as well, notably the ISM manufacturing index...

• Clients should enter 2015 as they ended 2014. • We are long USD/CHF and USD/JPY; short EUR/GBP and CHF/DKK. • We are sidelined in NOK as oil prices have yet to bottom out. Our open...

Market movers todayIn Europe the main focus will be the release of manufacturing PMIs. The most interesting releases are the first estimates for the manufacturing PMIs in the peripheral countries...

Market movers today Euro-area money supply and bank lending data are published. The subdued bank lending in the euro area is expected to show a continued recovery in November. This should occur as the...