Market Movers
Focus continues to be on the Emerging Markets rout and the development in commodity prices.
Fed's Dennis Lockhart will speak tonight. The subject is pensions and economy and it is unclear from the agenda whether there will be any Q&A. Note that we changed our Fed forecast on Friday and pushed our expectation for lift-off from September to December due to the recent turmoil in Emerging Markets and sharp drop in commodity prices, see Research US: Uncertainty to keep Fed's finger off the trigger in September .
There are no data of interest on the global front today. Later this week we get US consumer confidence, core PCE inflation and durable goods orders, German Ifo survey, German flash CPI and euro area M3 money supply. A number of Fed and ECB speeches will also get attention to gauge how the two central banks view the current situation ahead of the ECB meeting on 3 September and the Fed meeting on 17 September.
In Scandinavia focus will be on the Danish government's publication of 'Economic Survey' which includes updated economic projections for the Danish economy.
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