Nikkei is down 1.3% at the time of writing
Market Movers US mortgage applications is the only key data release today. Markets are in wait-and-see mode ahead of the all-important ECB meeting tomorrow with the rate decision at 13:45 CET and the...
View ArticleOil prices moved a bit higher
Market Movers The ECB meeting is finally here and the suspense will be over as the ECB announces its new round of stimulus. We expect the ECB to cut the deposit rate by 10bp to -0.4%, to introduce a...
View ArticleDanmarks Nationalbank decided not to follow the ECB
Market Movers Today’s data calendar is very thin and the focus is still on markets digesting yesterday’s easing package from the ECB (see below). In the UK , trade balance and construction output...
View ArticleThis week focus continues to be on the central banks
Market Movers There are no real market movers today. Only release of interest is euro area industrial production where we look for a healthy monthly increase in line with the German number last week....
View ArticleUSD/JPY initially fell from 113.80 to 113.40
Market Movers Today’s calendar contains a series of US data releases with February’s retail sales report asthe most important release. The retail sales control group is expected to increase 0.2% m/min...
View ArticleS&P500 index ended 0.2% lower
Market Movers Today’s main event will be the FOMC monetary policy announcement. We expect the FOMC to keep the fed funds target rate unchanged at 0.25%-0.50%. This is widely expected and focus will...
View ArticleFOMC kept the federal funds target rate unchanged at 0.25%- 0.50%
Market Movers Following the FOMC meeting last night, this week’s long list of central bank meetings continues with three meetings on the agenda today. We expect Norges Bank to cut its key rate by 25bp...
View ArticleNasdaq is still down 4.6% YTD
Market Movers In the US, preliminary consumer confidence figures from the University of Michigan are due to be released. In the euro area, data for euro area labour costs for Q4 15 is due to be...
View ArticleUS equity markets ended
Market Movers There are few key releases today in the US. Existing home sales is expected to continue the positive development seen in 2015 but the market impact should be small. We will also keep an...
View ArticleThe Fed funds futures market indicates
Market Movers In the euro area the ZEW, IFO and PMI business surveys for March will attract attention after all three figures declined in January and February, with the financial uncertainty having a...
View ArticleEuro-zone releases yesterday generally came out on the strong side
Market Movers A few ECB appearances scheduled with both Lautenschlaeger and Weidmann set to speak today. After ECB chief economist Praet was out last week stressing that rate cuts remain part of the...
View ArticleUS core PCE was 1.7% y/y in February
Market Movers Federal Reserve chairwoman Janet Yellen will speak in New York tonight. After her Texas Fed’s Kaplan is set to speak. The US Conference Board’s consumer confidence index for March is...
View ArticlePreliminary HICP data for Germany in March are due at 14:00 CET
Market Movers The release of the ADP employment data for March should give us an early indication of what to expect from the official job report for March due on Friday although, admittedly, the ADP...
View ArticleEuro area inflation figure for March is due today
Market Movers Euro area inflation figure for March is due today and we expect it to remain in deflation territory. This should occur because the drag from energy price inflation is set to go up despite...
View ArticleJob growth is mainly driven by private service payrolls
Market Movers We estimate non-farm payrolls increased 220,000 in March, slightly above the current consensus of 210,000. Job growth is mainly driven by private service payrolls, which we estimate...
View ArticleGlobal bourses ended the week on a mixed footing
Market Movers In the euro area, Sentix investor confidence for April is due for release at 10:30 CET. While the index has been declining for three months, we expect it to have bottomed out and we look...
View ArticleReserve Bank of Australia kept its policy rate unchanged at 2.0%
Market Movers In the US, the most important release today is the ISM non-manufacturing index for March. The index has declined for four consecutive months reflecting the slowdown in the economy, which...
View ArticleThe minutes from the 15-16 March FOMC meeting are due for release
Market Movers This afternoon, the minutes from the 15-16 March FOMC meeting are due for release. As Fed communication after the meeting has been extensive, we do not expect any significant news,...
View ArticleThe median Fed 'dot' signals two hikes this year
Market Movers Today is a quiet day in terms of data releases. However, there are a few events that may turn out to be interesting. The most important release today is the Chinese FX reserves. In the...
View ArticleThe yen is touching new highs
Market Movers In terms of data releases, today is set to be a fairly quiet day. In the UK, focus will be on the release of NIESR GDP estimate for March , as the estimate in February suggests that...
View ArticleUSD/JPY has dropped more than five big figures in April
Market Movers Several Fed members are due to speak this week. While Yellen’s last speech has already set the stage, as she put more weight on the downside than upside risks to her outlook, we will...
View ArticleThe Fed members are due to speak this week
Market Movers Several Fed members are due to speak this week. Today, it is time for Harker, Lacker and Williams to deliver their view on the economy. However, none of them are voting members of the...
View ArticleEuro area industrial production for February
Market Movers In the US we get data on retail sales in March, which we expect to show control group sales increased by 0.3% m/m. In line with other data, retail sales have been weak in recent months...
View ArticleThe CPI data are becoming more important as Fed's Yellen
Market Movers In Europe focus will be on the Bank of England meeting and the final inflation data for Euroland. Bank of England is expected to be on hold given the focus on the upcoming Brexit vote. In...
View ArticleSentiment in the US equity market yesterday
Market Movers No major economic data out of Europe today and no rating reports on EU sovereign bonds tonight. Focus will be on a string of US economic data. We will be looking at the industrial...
View ArticleThe JPY is also stronger against the USD by about 0.7%
Market Movers No major data releases today but financial markets will be digesting the impact of the failed oil talks in Doha and whether this will give rise to a renewed downward trend in the oil...
View ArticleDespite the additional easing from the ECB in March
Market Movers In the euro area, we get data for the German economic sentiment indicator ZEW expectations, which we expect to remain at the current low level as indicated by the Sentix investor...
View ArticleThe labour market report is due for release in the UK
Market Movers No major economic data releases in Scandinavia nor the euro area today. In the US, existing homes sales for March are due. We look for the recovery of the US housing market to continue....
View ArticleRegarding the ECB meeting today
Market Movers Focus today will be on the ECB and Riksbank meetings. For the ECB meeting, we do not expect any policy changes but we believe Draghi will sound dovish as inflation expectations are still...
View ArticleEUR/USD has moved higher
Market Movers Today, the German IFO expectations for April are released, which we expect to stay at the current low levels in line with our expectations for the PMI figures. However, financial...
View ArticleFOMC meeting and Bank of Japan's
Market Movers Data on durable goods for March in the US are due today, which should give an indication of investment growth in the last month of Q1. Durable goods orders were weak in both January and...
View ArticleThe key event today is the FOMC meeting
Market Movers The key event today is the FOMC meeting, which is set to conclude with merely a statement (no press conference or projections). We expect the Fed to maintain the target range at...
View ArticleFOMC statement and the Bank of Japan
Market Movers Focus today on digesting the FOMC statement and the Bank of Japan. In the UK, everything continues to be driven by the upcoming EU in/out referendum. Today, chancellor Osborne is...
View ArticleThe oil rally continues with Brent crude trading
Market Movers Euro-area HICP inflation for April is due for release and we expect a negative print of -0.1% y/y, slightly lower than in March when it was 0.0%. Core inflation should drop to 0.8% from...
View ArticleThe Japanese stock market fell 3% although the JPY
Market Movers The main data release today is the US ISM manufacturing. We have had some mixed signals about the direction in April following the sharp rebound over the past couple of months. While the...
View ArticleA very light international agenda today
Market Movers A very light international agenda today. We will keep an eye on Fed’s Mester (voter, hawkish) and Fed’s Williams (non-voter, neutral) who are both scheduled to speak today. In the UK...
View ArticleEquity markets continued the correction lower yesterday
Market Movers US ISM non-manufacturing for April is due today. After a big decline from October to February, the index rebounded in March. There should be scope for a further increase in April....
View ArticleToday focus is on the US labour market report for April
Market Movers Today focus is on the US labour market report for April. The labour market is one of the bright spots of the US economy and in the April statement the Fed recognised that the labour...
View ArticleWeakest US job growth in seven months
Market Movers The German factory orders for March are expected to have risen moderately as the improved economic activity in the US and China should be supportive for foreign orders. Looking ahead,...
View ArticleIn Brazil it was a day with political chaos
Market Movers In terms of global data releases, the calendar today is rather thin. German industrial production data for March are likely to attract some attention after the strong factory orders...
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