Market movers today
• Interesting week, with FOMC meeting Wednesday and Flash PMI in China and the euro area on Thursday.
• Today’s US Empire index will be the first regional business survey released for June. It has been falling three months in a row to -1.43, reflecting weaker industrial activity. We expect a small rebound in June, implying a gradual easing of the soft patch – as indicated by other indicators such as consumer confidence and the NFIB index.
• We expect the US NAHB housing index to be flat in June at 44 – a bit below consensus looking for a rise to 45. The NAHB index fell in the beginning of 2013 but showed a decent rebound in May.
• Today and tomorrow, a G8 Summit takes place in Northern Ireland. Among other issues developments in the global economy will be on the agenda. Syria is likely to be on top of the agenda
Read the full report: FX Daily
Danske Bank