Brexit amongst market movers today – Danske Bank

Analysts at Danske Bank suggest that we are starting the week on a quiet day in terms of data releases, but markets will keep a close eye on the Brexit developments, where the next question is whether Theresa May will survive as party leader and prime minister in the coming days.

Key Quotes

“In the US, we get housing starts and building permit data for October. Recently, the housing market has looked a bit shaky, but numbers for September were probably influenced by the hurricane season. Hence, we will keep an eye on whether we see a recovery in October and the coming months.”

“Later this week, PMI data both in Europe and the US as well as the next stage in the Italian budget fight with the European Commission will be in focus.”

“Italy will likely also be discussed at today's Eurogroup meeting, although the main agenda is dedicated to discussing euro area reforms.”

“In Sweden, housing construction data for Q3 is in focus, which could show another drop in housing construction.”