Danske Daily – 12 September 2017

New research from Danske Bank
Market movers today

On a day with only tier-2 data out on the global front, focus is likely to continue to be on the situation with North Korea, where markets will digest the UN vote yesterday. Further reports on the cost of Hurricane Irma may also affect whether the boost to risk sentiment over the past days has more legs (see below).

It is fairly quiet on the global data front today. The UK is due to release CPI for August where we look for a rise in CPI of 0.5% m/m (rounded up), which should be enough to push CPI inflation up from 2.6% to 2.8% y/y – in line with consensus.

The US is due to release the NFIB small business optimism index for August. The index rose sharply after the election of Donald Trump but levelled off in early 2017. However, last month it jumped higher again, adding to signs that US activity is re-gaining momentum. Consensus is for a small decline to 104.8 from the very high level 105.2 in July.

In Scandi it is time for Swedish inflation and the regional network survey from Norway. We look for Swedish inflation to be higher than consensus and the Riksbank’s estimate, see Scandi Markets on the next page for more.

Selected market news