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Take
Five: World markets themes for the week ahead – Reuters
Ready
for a scary Eurozone GDP show? * US economy read out * China’s small move, big
deal * Bond yields hit new lows * Argentina’s approaching elections
World Economy Week Ahead – BB
Germany
to Reveal Size of Recession Risk: German output predicted to have contracted in
second quarter
Key
events in developed markets next week – ING
Not
a very cheery week for developed markets ahead. US data might be positive but
trade and political developments will drive markets. On the flipside eurozone
data should help figure out how bad the industrial slump really is. And will the
hawkish Norges Bank hint at a September rate hike?
Global
Week Ahead
– Scotiabank
Europe:
A power struggle is occurring in Italy’s government that should shame both
parties against the backdrop of decades of political instability. * US: Next week
macro data, following week heavy line-up of Fed communications, including
meeting minutes and the Jackson Hole symposium.
Week
Ahead
– Nordea
The
PBoC holds the key to global risk appetite as stabilisation of USD/CNY is the
first prerequisite for calmer markets. Meanwhile markets are screaming for a
USD liquidity injection from Jay Powell. Liquidity will be withdrawn instead.
Weekly
Focus
– Danske
Bank
News
on the US-China trade war will continue to be in focus. The next key event is
scheduled trade talks in Washington in September. * Any comments by members of
the Fed and ECB will be scrutinised for signals of how much easing is in the
pipeline. * On the data front, attention will turn to German ZEW, euro-area GDP
for Q2, US core inflation and Chinese numbers on industrial production and
retail sales.
Macro
Weekly
– ABN
AMRO
China
and the US are fighting, Europe is hurting * Expect tit-for-tat trade war to
continue * Eurozone industrial sector remains under pressure * Asian trade
stabilising before most recent escalation trade conflict * We have lowered our
growth forecasts by a few tenths in a number of countries
China
Weekly
– Danske
Bank
US-China
trade tensions reached a new low point this week. China is waving the 'rare
earth card' in a sign of what might come next if Donald Trump adds more tariffs.
* USD/CNY broke through the 7 level, triggering the official US label of
'currency manipulator'. We look for more CNY weakness but no devaluation. * Export
data were better than expected, while producer prices hit deflation territory.
Metal prices are softening but still do not point to a hard landing in China.
Yield
Outlook
– Danske
Bank
Rates
and yields yet to bottom
Weekly
Market Comment
– Marc
Chandler
The
US-China tensions remain the dominant driver of investor risk appetites. * In
addition to, and not wholly separate from the conflict between the two largest
economies, investors are concerned about the trajectory of growth and prices,
and policymakers' reaction function.
FX
Weekly – Nordea