Danske Markets

Market movers today As tensions in the Russia/Ukraine conflict are easing, economic data will likely get some more attention again. Service PMIs will be released in most countries today. In the euro...

A quiet day in an otherwise busy week. There are no important data on the global scene. However, developments in Russia/Ukraine will continue to attract attention. The next points of interest in terms...

Over the weekend geopolitical tension in Ukraine increased and has now reached a level that has created cause for concern in commodity markets. Both Russia and Ukraine hold dominant positions in the...

In the weeks up to February 25, speculators unwound CHF shorts and are again square the Swiss currency, underlining the attractiveness of the franc as geopolitical tensions are on the rise. We would...

We stress that we now need the perfect storm in the form of both further ECB easing - including rate cuts - and Fed tapering to be completed this year for our 1.26 forecast on EUR/USD to materialise...

This week the scorecard recommends buying the CAD, USD and EUR while selling the SEK, JPY and AUD. Most input factors currently favour being long CAD and following last week's sell-off, the scorecard...

We expect the Swedish manufacturing PMI to continue its recent see-saw pattern and decline. However, we believe it will remain above the critical 50 line, indicating continued expansion. The most...

The main release today will be the US ISM manufacturing index for February, where we look for a slight rebound to 52.3 following the sharp drop in January to 51.3. The drop in January was to a large...

Market movers ahead With expectations of low inflation for several years to come, the ECB is likely to announce the easing of monetary policy when the bank presents its inflation forecast for 2016 -...

Having sent a mixed message for some time, the ECB is increasingly signalling it is ready to take action. Since the February meeting, it has worked on the 2016 inflation forecast - a crucial input to...

Market Commentary Despite continued Emerging-Market wobbles, the credit markets have been rather stable during the past week. Looking back at February, corporate senior issuance volume comfortably...

Swedish Q4 GDP came in much higher than we anticipated and, as we suspected/feared, inventories were an important factor accounting for about half of the rise in GDP. However, in spite of that, we...

The recent weak signals from China's leading economic indicators have been a cause for concern in the commodity markets even if the growth deceleration does not look particularly dramatic. The economy...

We have a strong conviction of additional easing from the ECB. Medium-term inflation will be below target and, in the current monetary policy regime, deviation from the price stability target is...

Market movers today Euro inflation will likely drop to a new cycle low of 0.6% in February, which adds pressure on the ECB ahead of the meeting next week. Yesterday German inflation was weaker than...

Despite a continued increase in emerging market tensions and sell-off in RUB and TRY, overall risk sentiment has generally not been too badly affected. As shown in the charts above, implied EUR/RUB ad...