Danske Markets

Summary and outlook Global leading indicators continue to be strong, pointing to an ongoing recovery in the world economy. In the US ISM remains resilient with strong details, although the headline...

This week the scorecard recommends buying the NZD, EUR, JPY while selling the CAD, SEK, NOK. The NZD was last week's top-performer among G10 and even though the currency's score has a significant...

Market movers today The euro PMI services are due for publication. The first release of the Spanish and Italian figures is expected to confirm the stronger growth in the periphery countries. The...

Market movers ahead We expect the December inflation data for the euro area to show a fairly sharp fall to a new low of just 0.6%. This would put pressure on the ECB to ease monetary policy despite...

The data released over the holiday season suggests that the recovery has strengthened substantially in the US but also in the euro area, where it is increasingly spreading to the area’s...

Oil prices have started 2014 heading south following news out of Libya of progress in the dispute between the government and regional protesters. The price on Brent Crude oil dropped more than...

Euro area money supply data covering November are due for publication. M3 growth slowed during most of last year and the consensus expectation is for a low reading of 1.5% y/y. While the European...

Our recommendation to buy TRY/DKK (Trade #8) from FX Top Trades 2014 was stopped out at 2.5885 on 26 December 2013 for a 2.83% loss (incl. positive carry of 0.29%; opened at 2.6750). Spot now: 2.51. ...

Following the Fed meeting on 18 December, at which the US central bank announced the start of QE tapering, speculators added longs in EUR against USD. This underlines that the Fed move was largely...

Market movers today In Europe we expect further improvement in manufacturing PMIs in Italy and Spain suggesting stronger growth in the periphery. In the UK the manufacturing PMIs are expected to have...

This week the scorecard recommends buying AUD, NZD, JPY while selling CHF, SEK, EUR (see suggested weights in portfolio in table below).This week the long basket again includes mainly AUD, NZD and JPY...

Market movers today Again we have a relatively quiet day ahead of us today, with the only notable release pending home sales in the US. Most markets in Europe will be closed tomorrow but a number of...

Receive 5Y USD swaps, 4Y forward (versus 3M Libor) versus pay 5Y EUR swaps, 4Y forward (versus 6M Euribor). Open ½ position at 135bp with the possibility of another ½ position at...

This week the scorecard recommends buying the NZD, JPY and AUD while selling the GBP, NOK and SEK. Again this week all input factors favour a long NZD position and thus the scorecard recommends...

Market movers today Today's main release is US personal spending and core PCE inflation. Following robust retail sales in November, personal spending is expected to rise 0.5% m/m. As the PCE...

After much back and forth the Fed finally had the data on hand to start the tapering process. It is clear, though, that the Fed is not aiming for tighter financial conditions but simply a different...