Market movers today
• In the US, preliminary University of Michigan confidence for June is due to be released. The consensus expectation is for an unchanged number but we think it could surprise on the upside as we expect an improvement to 85.5 from 84.5.
• Industrial production in the US is expected to increase 0.2% m/m after it declined 0.5% in April. The decline in the ISM manufacturing index would suggest that manufacturing production should see a significant decline in the coming months, taking the three-month annualised growth rate into negative territory.
• In the euro area, final HICP and core HICP are expected to be unchanged from the flash estimates; hence inflation will stay very low.
Read the full report: FX Daily
Danske Bank