According to analysts at Danske Bank, it is another quiet day on the data front and hence focus in the market will continue to be on political developments, notably the trade frictions between the US and China, where the official stand-off was confirmed over the weekend after an op-ed in the Chinese State media that China will not back down in the trade war.
Key Quotes
“The Chinese trade balance number, due to be released overnight, will be followed with some interest in light of the trade frictions. Export growth will also be an important gauge of the strength of the global economy.”
“Today, the June number for industrial production in Germany will gain some attention, especially as some of the business confidence indicators have weakened recently on the back of global trade tensions. Market consensus is for a small decline in the growth rate y/y to 3%.”
“In Italy, statements from political leaders on the budget for 2019 will be interesting ahead of the finalisation of the budget in September and could influence market sentiment on Italy.”
“In the Scandies, industrial production data in Sweden and Norway is due out.”
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