According to analysts at Danske Bank, focus today will be on the ECB Forum at Sintra, where ECB President Mario Draghi will give an introductory speech at 10.00 CEST and also participate in a panel with the Bank of England’s Mark Carney and former Fed vice chairman Stanley Fischer at 16.00 CEST.
“We expect Draghi to strike a dovish tone at the conference.”
“On the data front, we have final Euro inflation for May and the German ZEW sentiment index for June. In the US, data on building permits and housing starts are due to be released. Housing should perform well following the sharp decline in mortgage rates and high consumer confidence.”
“The Nordics have been resilient in general in the face of recent global weakness, with exports still supporting growth, but domestically, the Nordics are moving in different directions. We see very little domestic demand growth in Sweden and it is also slowing markedly in Finland. Norway, on the other hand, is supported by oil investments. The Danish economy is slowly decelerating with growth still above trend.”