Market movers today
• The situation in Syria as well as the crisis in the emerging markets continue to be the main focus.
• German unemployment is expected to decline 5k in August following a decline of 7k in July. This should leave the unemployment rate unchanged at 6.8%. An improving labour market will help strengthen German private consumption and put the recovery on a stronger footing.
• ECB’s Nowotny speaks this morning. He might elaborate further on his comments last week that a rate cut is off the table following the recent improvement in data.
• In US initial jobless claims will be in focus as well as speeches by Fed members Bullard (dove) and Lacker (hawk). The US also releases Q2 GDP, which is expected to be unchanged at 1.8% q/q AR.
• Swedish retail sales as well as Danish unemployment and business confidence are due for release.
Read the full report: FX Daily
Danske Bank