Danske Markets

The Fed September minutes expressed concern that the strength of the dollar could have adverse effects on the US external sector. This is important as it expresses the first united Fed concern about...

This week the index-linked auction is split between SEK500bn in the 6-year bond (SGBi3102) and SEK500bn in the 10-year bond (SGBi3109). Breakeven inflation rates have come down somewhat since the last...

Digging further into the new LMCI index, it becomes obvious why the Fed is not publishing the actual level of the index but only the change. On the next page is a chart of a simple cumulation since...

Market movers today The only release of interest will be the minutes from the 16-17 September FOMC meeting . These will cast more light on the decision to keep its 'considerable time' forward...

Yesterday, for the first time, the Fed published its summary index of the change in labour market conditions, the Labor Market Conditions Index (LMCI). There are a few interesting observations to note...

Prices on Brent Oil, Crude Oil and major oil products have dropped to multi-year low levels following a growth slowdown in China, a surge in the US dollar and a further rise in global oil output. The...

Market movers today The day starts with German industrial production for August and following yesterday's disappointing factory orders we have revised our forecast lower to -1.8 m/m. This would...

IMM data released last Friday revealed that investors added net-long USD positions in the week to 30 September. The move is notable for three reasons. First, it reflects speculations of strong...

This week the scorecard recommends buying GBP, CHF and EUR while selling USD, NZD and SEK. Last week's signals resulted in a 0.04% loss. In particular the long GBP was expensive. Year to date, the...

Market movers today Focus will be on German factory orders and we forecast a decline of 1.5% m/m in August. The first print of Q3 showed a significant rebound in factory orders, as it increased 4.6%...

In Sweden , the week ahead contains little data of acute relevance. We, nonetheless, find it interesting that the monthly government net lending (budget balance) (published Tuesday, at 09:30 CEST) has...

The US posted a solid job report showing job gains of 248,000 in line with our estimate of 250,000 (consensus: 215,000). Net revisions were also positive at +69,000 so overall quite a bit stronger...

Market movers ahead The release of minutes from the 16-17 September FOMC meeting will cast more light on the decision to keep its 'considerable time' forward guidance. Both PMI and IFO declined in...

Euro area retail sales surprised on the upside in August as they increased 1.2% m/m and 1.9% y/y. Excluding June, the yearly change was the highest since April 2007. The increase reflects an increase...

Global stock markets took a hit this week as renewed turmoil in emerging markets (EM) once again came to the surface. As we have highlighted recently, EM assets tend to get vulnerable every time China...

Market movers today US non-farm payrolls take centre stage. We expect a rise of 250k, higher than the consensus estimate of 218k. There are two reasons why we continue to look for payroll growth...