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Danske Bank analysts point out that both Norway and Sweden are set to release PMI data and will be key economic releases for the day.

Key Quotes

“Concerning Swedish PMIs, we have seen a decline in both the manufacturing and services indices over the past three months. They are now close to the lowest levels seen in the euro crisis. We do not expect any large movement, but, rather, for it to stabilise at a similar level. We expect the Norwegian PMI to have fallen moderately to 53.0 in December.”

“Today marks the end of the holidays. Market commentary has centred on weak liquidity conditions to explain everything from EUR and GBP strength to equity market movements. Thus, the scene will be set for 2020 by assessing how markets fare in the coming days and judging what is liquidity-driven and what is macro-driven.”