Markets will continue to focus on the escalating US-China trade war and UK politics, according to analysts at Danske Bank.
Key Quotes
“ECB minutes today will be more interesting than usual . At the June meeting, the ECB decided to end its APP by the end of the year and strengthen forward guidance on rates, where they will remain at present levels ‘at least through summer 2019’. We look in particular to the discussion to end the APP and rate guidance, particularly in light of yesterday’s sources , on top of the normal economic and inflation assessment.”
“Swedish inflation and Riksbank minutes released. In our view, the probability of inflation surprising on the upside of the Riksbank forecast is rather slim. See preview for details. We still look for the Riksbank to delay the first hike on downside inflation surprises.”
“US CPI and initial jobless claims due . In terms of the former, our expectation of 0.2% m/m in June is in line with consensus and should not be a game changer for the Fed.”
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