Market movers today
• Focus this week will continue to be on US bond markets and the emerging markets (EM) turmoil. If US yields continue to calm down, it will be positive for risk assets and the EM region.
• We expect US durable goods orders to have declined 3.5% in July following a sharp rise in June. Also watch out for shipments that have been soft in recent months, whereas orders have been quite robust. Shipments should catch up with orders soon.
• ECB’s Jens Weidman (hawk!) will speak at 10:00 CET in Berlin on the subject ‘A new old debate – the struggle for a stable framework for monetary union’.
• In the Scandi calendar Swedish PPI and the announcement of the Danish state financing needs are the key events.
Read the full report: FX Daily
Danske Bank