Market movers today – Danske Bank

According to analysts at Danske Bank, trade war developments set to stay in focus with markets awaiting Chinese retaliation measures versus US.

Key Quotes

“That said, both the US and China have signalled in recent days that they may be willing to enter high-level negotiations on the topic after these stalled in early June. Note also the China-EU Summit in Beijing on 16-17 July, which could form the basis for next moves in the trade dispute.”

“A slow day in term of data releases. The University of Michigan confidence indicator will get increased attention in order to judge any impact of the trade war; note though that the survey is conducted prior to the most recent move from Trump.”

“The Fed releases its semi-annual monetary policy report to Congress this evening; however, Chair Jerome Powell is not set to testify on this until next week.”

“Trump continues his European tour to the UK, where he will hold a press conference with PM Theresa May this afternoon.”