Danske Markets

The QE figures for March showed the PSPP share increased to 77% of the total EUR30bn APP purchase volume (EUR30.6bn in April). The share was relatively constant in Q1 at 70%. The increase in the PSPP...

The waiver on US nuclear-related sanctions on Iran expires on 12 May - we see a tail risk of Iran's oil exports being hit by sanctions and Brent rising to USD80-85/bl. This creates upside risks for...

Market movers today Today is a very quiet day in terms of economic data releases with German factory orders and euro area Sentix investor confidence being the two most interesting releases. Notice...

We change our call and no longer expect the Bank of England (BoE) to increase the Bank Rate at the MPC meeting on 10 May.We think a rate hike will be postponed to the next big meeting in August. In...

Trade talks are likely to go on for a long time it seems. See Strategy: More signs growth has peaked as trade talks drag on , 4 May 2018. Some big issues are outstanding according the media reports....

Market Movers aheadThis week Weekly Focus covers the coming two weeks due to the Danish bank holiday next week. In the US, we estimate core CPI for April increased from 2.1 to 2.2% y/y. The BoE will...

Trade war is still being slowly foughtAs we argued back in March, the trade war is being fought very slowly and is more verbal than economic at this stage , see Strategy: Slowly fought trade war amid...

Our 10.50 target breached - but partly overshooting.Look for correction - EUR/SEK overbought relative to short-term models. Weak SEK - temporary tailwind for inflation - headwind for EUR/SEK. To read...

The data calendar today is rather thin in volume terms, but an important release comes from the US.The US jobs report is due at 14:30 CET. As employment continues to rise, the main focus is on average...

We revise the inflation forecast higher on the back of the weaker SEK, but we still expect core inflation to remain below Riksbank's forecast before falling back again next year.Continued...

Euro area headline inflation fell back to 1.23% y/y in April, driven by a dip in core inflation to 0.72% (compared to 1.03% in March), while energy and food price inflation both accelerated to 2.55%...

Market movers today In Scandi, today's Norges Banks monetary policy meeting is not expected to bring new signals, see preview . It is one of the 'small meetings' and we expect Norges Bank to repeat...

The Chinese PMI manufacturing for April was broadly in line with expectations. The details point to some softening ahead, though, which is in line with other indicators (see China Leading Indicators 6...

Market movers today The main events today are the euro area preliminary first quarter GDP and the FOMC meeting. At the May FOMC meeting, we expect the Fed to maintain the target range at 1.50-1.75%....

Market movers today On a day where much of Asia and Europe are out for holiday, the main event is US ISM manufacturing: we expect a fall from 59.3 to 58.0. Looking ahead, we expect a further decline...

Market movers today A busy data week is off to strong start with important inflation releases from Germany and the US. Later this week we get Chinese Caixin PMI, US ISM manufacturing, FOMC meeting,...