Danske Markets

All input factors, with the exception of the FX score derived from last week's spot performance, currently favour being long CHF and thus the scorecard recommends buying CHF this week. The long basket...

Today's data calendar is rather thin. The only releases due in Europe are the Sentix Investor Confidence survey and Spanish house price index. No US data is due to be released today but two FOMC...

Danmarks Nationalbank has announced that it will keep its policy rates unchanged following the ECB's decision to cut interest rates yesterday. DN needed to intervene again in May, albeit for a small...

Market movers today The US job report will be the main focus today. We expect an increase in non-farm payrolls of 250,000 but see risk of a pay-back from the extra strong April figure. The ADP...

The ECB surprised the markets by boosting liquidity through a new 4Y targeted LTRO (TLTRO) while at the same time cutting the refi and deposit rates, bringing the latter into negative territory. We...

The decisive monetary easing announced by the ECB today will have mixed effects on commodity prices. The effect will probably be slightly positive for prices on base metals and oil, negative for the...

As the European Central Bank today lowered the interest rate on the main refi operations by 10bp to 0.15% and on the depo facility by the same amount to -0.10% offering abundant liquidity to banks,...

• We expect the ECB to take a significant step and introduce a negative deposit rate at the meeting in June. We also think the ECB will boost liquidity through a new 3Y LTRO in order to push...

• We think it is almost certain that the ECB will lower its inflation projection for 2014 and we also expect a slightly lower forecast for 2015, but in our view the ECB will keep its 2016...

Today's ECB meeting will be the main attraction. We expect the ECB to deliver an aggressive easing move by cutting the refi and deposit rates, taking the latter into negative territory. For more about...

Market movers ahead Lower inflation in the euro area has also strengthened our expectations that the ECB will deliver an aggressive easing move at Thursday's meeting. In the US, we still expect...

Will two-tenths suffice for the Riksbank? In our view, inflation will remain quite close to the Riksbank's forecast in May. CPIF and CPI are both set to end up 0.2 percentage points below forecasts....

Risk assets still well supported US growth and inflation going higher Euro manufacturing slows temporarily - inflation hits low Chinese PMI confirms recovery Following strong performance in core...

Euro GDP growth was confirmed at 0.2% q/q in Q1. In line with our expectation, growth was mainly driven by domestic demand while there was a negative contribution from net exports. Both household...

Market movers today The Spanish and Italian May service PMIs are due for release. The Spanish figure increased to 56.5 in April, which is the highest print since the beginning of 2007. This clearly...

Receive 2Y, Pay 15Y swap (EUR6M) in 1Y forwards. Entry: ½ position @ 170bp, Add: ½ position below 155bp, Stop @ 139bp. Roll down: +1bp/6M, -5bp/yearAggressive ECB and higher US rates...