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The Fed And ECB Minutes As Well As PMI Figures Will Be In Focus

Danske Bank
By Danske Bank

Market movers today

We have a quiet start to the week with no global market movers released. Markets will continue to focus on the political developments in Italy , where the new prime minister candidate might be named as early as today (see our take Italian Election monitor – Stand-off between EU and new Italian government looming ).

Later this week, the Fed and ECB minutes as well as PMI figures will be in focus.

Selected market news

Italy’s two populist parties have reached a deal on a prime minister. Today, the anti-immigration League and the Five Star Movement could recommend a cabinet to Italy’s President Sergio Mattarella. We expect further EUR weakening in the near term, but stronger in the medium term.

The US administration has decided not to impose tariffs on China’s products, putting the trade war on hold for now. In last Saturday s joint statement, China proposed to 1significantly increase purchases of US goods and services.

USD/JPY, AUD and CAD gained on the Sydney open from Friday s New York close on the news. US equity futures opened up.

Danske Bank
Danske Bankhttp://www.danskebank.com/danskeresearch
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