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29 May 2015
EMU and US releases in the spotlight today – Danske Bank
FXStreet (Edinburgh) - Senior Analyst at Danske Bank Flemming Nielsen noted today’s relevant releases in the euro area and the US economy.
Key Quotes
“In the euro area we expect M3 growth to have increased to 4.9% y/y in April, from 4.6% y/y in March. For the first time since 2012, we forecast a non-negative annual growth rate in credit to non-financial corporations (NFCs) and bank lending to households should also improve further”.
“We expect US Q1 GDP growth to be revised lower today as trade data suggest that net exports were a drag on growth and that the contribution from inventory accumulation was lower than first estimated by the BEA”.
“The decline in the preliminary reading of May University of Michigan consumer sentiment sent US rates lower. We will get the final release today and we expect a slight rebound to 89. This would leave consumer sentiment almost 7 points below the April reading but on a longer-term horizon still at a healthy level”.
Key Quotes
“In the euro area we expect M3 growth to have increased to 4.9% y/y in April, from 4.6% y/y in March. For the first time since 2012, we forecast a non-negative annual growth rate in credit to non-financial corporations (NFCs) and bank lending to households should also improve further”.
“We expect US Q1 GDP growth to be revised lower today as trade data suggest that net exports were a drag on growth and that the contribution from inventory accumulation was lower than first estimated by the BEA”.
“The decline in the preliminary reading of May University of Michigan consumer sentiment sent US rates lower. We will get the final release today and we expect a slight rebound to 89. This would leave consumer sentiment almost 7 points below the April reading but on a longer-term horizon still at a healthy level”.