Market movers ahead
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- The US government shutdown continues. Look out for more negotiations.
- US regional surveys from Philadelphia and New York (Empire) should give more clues to how much manufacturing is slowing down.
- In the UK, the House of Commons will vote on Theresa May’s Brexit deal on Tuesday. We expect the House to vote it down.
- We expect Chinese money and credit data to show how much the monetary easing is feeding through to the economy.
- In Scandinavia, focus turns to Swedish inflation numbers and house price statistics.
Weekly wrap-up
- US recession fears abated somewhat, as the Fed struck a more dovish tone and job growth is solid.
- Risk sentiment improved with equities gaining and bond yields and oil prices moving higher.
- US and China concluded another round of talks in Beijing this week. Negotiations continue according to plan and the top negotiators on both sides plan to meet later this month.
- Theresa May suffered another heavy defeat on Brexit. Uncertainty prevails.
- A softer tone from the Fed weakened the USD.
