Market movers today
• On the surface it looks like a relatively quiet day today. We have a completely empty calendar and liquidity will still be relatively low due to the holiday season in Europe. The crude oil market will probably continue to watch the developments in Egypt. If the anti-government demonstrations lose momentum, it could ease fears that tensions could have an impact on the important crude oil supply routes through Egypt.
• In the week ahead the most important data releases are flash manufacturing PMIs. It will be interesting to see if European PMIs continue to improve and whether China is already bottoming out.
• In the US the main focus will be the release of Fed minutes from the July meeting on Wednesday and the Jackson Hole conference for central bankers starting on the same day. No prominent Fed speakers are scheduled this year in Jackson Hole so we doubt it will provide new insights into Fed’s monetary policy thinking.
Read the full report: FX Daily
Danske Bank