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Danske Bank analysts point out that PMI services from around the world and US ISM non-manufacturing are due out today.

Key Quotes

“In particular, the US ISM non-manufacturing index will be interesting given the sharp fall in the ISM manufacturing index, which caused a repricing by the Fed. ISM non-manufacturing has been robust so far but the risk is the manufacturing recession spreads to the service sector. Also look out for the ISM non-manufacturing employment sub-index ahead of US non-farm payrolls tomorrow.”

“We also have a range of FOMC members speaking, where hints of whether the Fed will ease again later this month or not remain key for market sentiment.”

“UK Prime Minister Boris Johnson presented his Brexit proposal to the public yesterday and now it is up to the EU to decide whether the proposal can make a basis for further talks or not. Notably, the EU may have concerns as to whether the proposal is simply part of a blame game by PM Johnson. Officials generally welcomed a plan from the UK but EU Commission head Juncker said yesterday that ‘problematic points’ remain.”