Market movers today
– Chinese industrial production data are due this morning. We look for the figures to show a slight acceleration to 9.8% y/y, from 9.7% y/y in July, confirming that the economy has stabilised and started to recover moderately. If this forecast proves correct, we will have to lift our GDP forecasts for Q3 and 2013 as a whole.
– In the euro area, French industrial production for July will give more insight into the development in Q3. In addition, final Italian GDP data are due to be released. The ECB’s Asmussen will speak at a panel discussion about “The global monetary policy stance: what are the risks?” in Brussels.
– In Scandi markets, inflation data are due from Denmark and Norway. The latter is particularly interesting given the upcoming Norges Bank meeting. Swedish industrial production data are due to be released and a parliamentary hearing could provide further background information on the FSA’s new responsibilities.
Read the full report: FX Daily
Danske Bank