Analysts at Danske Bank point out that the US market is closed due to Labour Day but geopolitics will remain a hot topic here after the summer holiday.
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“Italy is in focus after Fitch put the country on negative outlook, and in light of the still wobbly Emerging Market sentiment it will be interesting to see whether a further rise in Turkish inflation today will draw any comments from the central bank and the pressure on the Turkish Lira.”
“In the UK, the House of Commons returns to session this week after a long holiday. Brexit will probably start to dominate the media coverage again ahead of the end-game in Q4. We believe the GBP will remain weak and volatile until we get more clarification on Brexit.”
“Global trade war concerns will be in focus later this week, as the hearing period of US tariffs on USD200bn of Chinese goods concludes on Wednesday. Last week, President Trump also reminded us all that there is only a cease fire between the US and EU, as no final deal on trade has been reached.”
“In terms of economic data releases, we get the August US jobs report on Friday.”
“The geopolitical stand-off between Russia and the US in Syria is escalating. The Syrian war could hit the wires over the next few days, affecting markets through risk sentiment and the oil price.”
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