Danske Daily: Euro-Area Investor Confidence Decline Likely
Danske Markets | Oct 07, 2014 01:23AM ET
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Focus will be on German factory orders and we forecast a decline of 1.5% m/m in August. The first print of Q3 showed a significant rebound in factory orders, as it increased 4.6% m/m from the quite weak Q2, but both the PMI and IFO continued their downward trend and we look for a decline in the figure for August.
Euro-area Sentix investor confidence for October is due for release and we expect another decline. In August and September it declined considerably, likely reflecting uncertainty related to the conflict in Ukraine.
During the week the minutes from the latest FOMC meeting will cast more light on the decision to keep its 'considerable time' forward guidance, while the statement from the Bank of Japan meeting will probably reflect a slight downgrade of the view on the economy.
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