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Danske Daily: Markets Eye French And German Flash PMI

ByDanske Markets
Published 12/16/2013, 05:29 AM
Updated 05/14/2017, 06:45 AM
INDX
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Market movers today

Lots on the agenda today. The main releases will be French and German flash PMI. We look for a very moderate increase in line with consensus. Following a steady increase earlier in the year, PMIs have been going sideways lately and this seesaw pattern could continue in the short term before we see further improvement in 2014.

ECB president Mario Draghi is due to speak at 15:00 in the European Parliament. He may be under a bit of pressure as latest news in terms of stronger euro, low inflation and disappointing hard data points to the need for further measures from the ECB.

In the US focus will be on the industrial sector as the Empire Business Survey and industrial production are released. Empire was quite weak last month and we look for improvement in December. Industrial production should also show robust growth of 0.7% m/m in November following a slight decline in October, possibly related to the government shutdown.

For the rest of the week focus will be on the Fed meeting on Wednesday where we look for the Fed to start tapering. German ifo, ZEW, US CPI and US NAHB housing index will also be released this week. The government funding plan for 2014 is expected to be published this week.

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