Danske Markets

Brexit extension and snap election still most likely outcome It has been a while since we last sent out an update. There have been some occasions where we thought about it but in reality not much has...

The global economy is at a precarious moment. While OECD leading indicators point to further downside, PMI new orders actually picked up, driven partly by China and stabilising world trade...

Market movers today It is the day of the jobs report in the U.S. We expect non-farm payrolls to have grown by 100,000 in September, which is below the Bloomberg consensus of 140,000. While the...

US and China meet for high-level trade negotiations next week, sources say 10-11 October. Below is a quick overview.We put a 60% probability of an interim trade deal, which should help to de-escalate...

Market movers today PMI services from around the world and US ISM non-manufacturing are due out today. In particular, the US ISM non-manufacturing index will be interesting given the sharp fall in...

We provide an overview of historical G10 FX return distributions conditioned on the global industrial cycle. Investors that expect further deceleration should be long JPY, CHF and USD and short GBP,...

Market movers today Today we are looking out for the U.S. ADP jobs report, which may attract some attention (despite its poor forecasting ability) given the weak ISM manufacturing report yesterday. We...

Market overviewMarket overview Trade war: where are we now? Since August, markets have turned more optimistic regarding the October trade talks between the U.S. and China and USD/CNH is back around...

Denmark: sheltered for now, headwinds aheadGrowth remains strong, but cannot resist the slowdown in Europe foreverSweden: danger signs accumulating Also the labour market is now showing significant...

Market movers today This morning, we have published our quarterly Nordic Outlook with updated economic forecasts for the Nordic countries. We have downgraded the growth outlook for 2020 for all...

The global macroeconomic and political backdrop weakened further over summer. Some of the downside risks we feared in The Big Picture - Renewed Trade Dispute Casts Shadow Over Global Economy , 11...

During the last week, I met policymakers from Sweden and Norway, and visited investor clients in the US. Today, I discuss the views of policymakers and clients and compare them with our views.In the...

Market movers today Today, we only have a few data releases. We get retail sales out of Norway and unemployment data for the euro area and Germany. The latter in particular will be interesting given...

The latest International Monetary Market (IMM) data covers the week from 17 September to 24 September 2019 Non-commercial FX positioning Non-commercial commodity...

Market Movers aheadIn the US, we look for a small rebound in ISM manufacturing and a further moderation in employment growth to around 100,000. Attention will also remain on the prospect of possible...

EUR/USD at new lows and we stress downside risks to our 1M target of 1.10 Three factors to watch for USD strength to be halted: trade, Fed and 'Europe' EUR/USD to stay under pressure well into October...