German ZEW and US housing data amongst market movers today – Danske Bank

US FHFA house prices and German ZEW expectations are due out today and analysts at Danske Bank are looking for a slight further decline in German data.

Key Quotes

“Sentiment has been a bit in retreat recently (albeit from high levels) and we expect the stronger euro to put a further dent on ZEW expectations.”

“In the US, FHFA house prices are expected to show an unchanged rate of around 0.5% m/m corresponding to a 6% annualised rate. Rising housing wealth is one of the factors supporting US consumers on top of robust job growth and a rebound in real wage growth due to lower inflation.” 

“Otherwise, focus continues to be on Jackson Hole later this week and whether Trump can get focus back on the policy agenda and his apparent new push for tax reform, which was reported by several media outlets yesterday.”