US-North Korea standoff and Eurozone industrial production amongst market movers – Danske Bank

Analysts at Danske Bank suggest that today focus will be on whether US-North Korea tensions ease further. Note also that US President Trump is set to sign a memorandum today initiating an inquiry regarding the Chinese intellectual property regime. 

Key Quotes

“In terms of data releases, it is a very quiet day with the euro area industrial production figure for June being the only interesting figure. Against consensus, the German industrial production figure for June dropped 1.1% m/m with declines in construction and all manufacturing sectors. We expect the euro area to follow the German figure and report a monthly decline in June of 0.8%.”

“Later this week, the ECB and FOMC minutes are both due for release and should shed more light on the QE and QT discussions. US retail sales and consumer confidence as well as UK CPI inflation are also scheduled for release.”