Week in Focus – Ransquawk
Week Ahead – Nordea
Curve
confusion prompting a late-cyclical mindset * But yield curve apologists in
control of the Fed * US macro momentum the next shoe to drop
Weekly Focus – Danske
Bank
Inflation
data from US and euro area * Emerging markets in focus
Strategy – Danske
Bank
Emerging
Market (EM) sentiment has been hit not only by rising USD and rates and the
trade war, but also increased sanction risk from the US * The most vulnerable
economies in EM at the moment are Turkey, Argentina, Russia, Brazil and South
Africa * Contagion to other Ems should be limited unless Brazil escalates into
a crisis * After failed trade talks between China-US, we expect an escalation
in the trade war in early September, which could weigh further on EM sentiment.
Weekly Market
Outlook
– Moody’s
Macro Weekly – ABN
AMRO
Main
economies steady as they go * Asian trade data suggests no further
deterioration of world trade * President Trump under more pressure, but removal
from office unlikely
Weekly Market
Comment
– Marc
Chandler
Dollar's
Correction may have More Room to Run
Weekly
Macro Comment – Marc Chandler
FX
Weekly – Nordea
The US economy will
slow from here, but short-term there are reasons to fade the EUR/USD rally, as
i) a SOMA-day is coming up, ii) Trump buying Italian bonds is not necessarily a
EUR positive and iii) a hawkish part of Powell’s speech was overlooked
G10 FX week ahead – ING
With
Federal Reserve Chair Jerome Powell dancing with the economic stars and
focusing on the big picture in his Jackson Hole speech, risky assets can
breathe a temporary sigh of relief as US interest rates are unlikely to escape
meaningfully higher. But with FX markets being driven by politics, pitching an
economic story makes little sense to us right now