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Analysts at Danske Bank suggest that Scandi markets will be digesting the financial implications of the outcome of the Swedish general election.
Key Quotes
“Exit polls at the time of writing suggest that country’s Red-Green block has 40.6% of votes, the Sweden Democrats 17.6% and the centre-right opposition Alliance 40.3%, meaning the absence of a clear leading candidate could trigger a political crisis during the formation of the government.”
“In the absence of major economic data releases, the key market focus will be on President Trump’s possible announcement of US tariffs on an additional USD200bn of Chinese goods.”
“Focus will also remain on emerging markets , where sentiment will be influenced by the possible new US tariffs on Chinese goods mentioned above.”
“Danish CPI for August is due today at 08:00 CEST. We expect -0.2% m/m and 1.2% y/y, against 0.7% m/m and 1.1% y/y in July.”
“Today also brings figures from Statistics Denmark for foreign trade, which has surprised on the downside thus far in 2018. The key question is whether exports will pick up after a disappointing H1 18.”