Market movers today
• German IFO expectations are projected to decline in line with the decrease seen in the German manufacturing PMI in June. The IFO current assessment is also likely to decline slightly in June but both indices are still expected to be at fairly high levels.
• Angela Merkel speaks at the CDU convention in Berlin about the CDU election platform. Much of the party programme (no new taxes, a balanced budget, familyfriendly) was already revealed at a speech held by Merkel yesterday.
• Fed’s Richard Fisher gives a lecture on US monetary policy and the US economy in London. Market participants will listen for messages on QE tapering but keep in mind that Fisher is a hawk and non-voter.
• We believe the spike in EUR/SEK is overdone and we also see more downside than upside risk to EUR/NOK after the sharp rise last week-
Read the full report: FX Daily
Danske Bank