Danske Markets

Market movers today The most interesting data release today is eurozone inflation in May, which we expect will decline back to this cycle-low of 0.5% y/y from 0.7% y/y in April. German, Italian and...

The latest IMM data covers the week from 20 to 27 May 2014. IMM positioning data released on Friday showed the third consecutive week of bearish EUR builds. Since the ECB meeting in May, speculative...

Although the market probably has its eyes on Thursday's ECB meeting and Friday's the US job report, the first day of the week is loaded with interesting key figure releases. We expect the first...

The week in Sweden kicks off early Monday morning with a speech from the Riksbank's Jansson and shortly after that, May PMI is set to be released. We estimate the PMI has slowed somewhat. We believe...

This week the scorecard recommends buying the NZD, SEK and NOK while selling the EUR, AUD and CHF. Last week's sell-off in the NZD seems overdone according to the model, and thus the Scorecard...

Market movers today A bunch of US key figures are on the calendar for today. We expect a slight setback in personal income and personal spending growth in line with the market’s expectation and...

Growth slowed in Q1 and thus complements the picture of too-high unemployment and too-low inflation. Ahead of the ECB meeting, we close the 5Y spread versus Germany but remain long delta in the 5Y...

Unchanged from the NBPWe are unlikely to get any major surprises next week when the Polish central bank announces its rate decision (due on Tuesday). Hence, in line with the consensus we expect the...

• Receive 1Y 1Y EUR/USD cross currency basis. • Open ½ position at -5.5bp with the possibility of another ½ position at 0. • Levels: target at -30bp, stop at 10bp, roll...

Brazil's economy: not much to cheer aboutAs the football World Cup kicks off in Brazil, the Brazilian economy continues to struggle on the back of weaker demand from China, heightened political...

The money supply in the eurozone weakened further in April and the annual growth rate in broad money M3 declined to 0.8% year-over-year (y/y) from 1.0% in March. This is far below the ECB's old...

We believe the ECB will surprise the markets by boosting liquidity through a new 3Y LTRO, while at the same time cutting the refi and deposit rate, bringing the latter into negative territory. We...

We expect the ECB to surprise the market at the meeting next week by cutting the refinancing (refi) rate and the deposit rate by 10bp, thereby introducing a negative deposit rate and in addition to...

In our main scenario the ECB takes a significant easing step and surprises markets at the meeting in June. This could very well be the end of the easing cycle as it should lead to higher growth and...

The most important release is euro area money supply and credit growth for April. At the ECB-forum in Sintra ECB-president Draghi in his speech Monday appeared concerned about banks' capacity to...

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 market...