Danske Markets

This week, the scorecard recommends buying CAD, USD and JPY while selling NZD, NOK and GBP. Last week's signals resulted in a 0.05% loss. Especially the long AUD position performed well. However, the...

Market movers today In the US industrial production is due for release and we expect an increase of 0.2% m/m in October. In September industrial production was quite high at 1.0% m/m, driven by high...

Japan's GDP unexpectedly contracted 0.4% q/q (consensus: 0.5% q/q, DBM 0.3% q/q) in Q3 after contracting 1.9% q/q in Q2 (revised lower from -1.8% q/q). This means that Japan is technically in...

In Sweden, Statistics Sweden is due to publish the October labour force survey on Monday (09:30 CET). We expect a slight uptick in the unemployment rate after a very low number in September. The...

US retail sales surprised to the upside today. The control group that feeds into GDP rose 0.5% m/m (consensus 0.3% m/m) following 0.0% m/m in September, revised from -0.2% m/m. Overall it puts core...

Market Movers ahead Markets will turn attention next week to the minutes from the FOMC meeting on 29 October. At this meeting the Fed turned more hawkish on the labour market, saying that the...

The US continues to be the world’s safe haven, as the bull market in US stocks has continued over the past month while euro area stocks have been left behind. S&P500 reached another high...

The Chinese credit data that has just been released was a bit weaker than expected but does suggest some stabilisation in credit growth. The broad credit measure total social finance (TSF), which also...

Headlines • Indices are flat as credit markets seem to have overlooked the heightened geopolitical risk. • France and Germany have avoided a technical recession (for now). • A German...

Mandatory amortisation = slower growth? More to get from pricing of inflation relative to implied rate hikes. To Read the Entire Report Please Click on the pdf File Below

RUB: Focus on the fundamentals We believe that fundamentals take centre stage in terms of our rouble forecast and we particularly highlight that given the present level of the oil price, the rouble...

Summary and outlook Sentiment and leading indicators currently show a murky picture of the global economy. In the US, signals are mixed as ISM is still strong but demand data has weakened somewhat....

The Chinese data released this morning were slightly weaker than expected and suggest continued moderate downward pressure on growth. However, on a positive note, there was also signs of stabilisation...

The Russian central bank (CBR) has allowed the rouble to float increasingly freely since 2008-09 in a widening trading range. This week the CBR allowed the rouble to float freely. We take a close...

Market movers today The Fed's Bill Dudley (voter, dove) will speak at 09:30 CET. The speech will be interesting as Dudley is at the centre of the Board and generally thinks a lot like Janet Yellen,...

Market movers today In UK the labour market report is released and the unemployment rate is expected to decline further to 5.9% in September from 6.0% in October (ILO data). Wage growth is expected...