Eurozone PMIs and Jackson Hole amongst market movers this week – Danske Bank

There are no big market movers today but, later this week focus will turn to euro area PMI for August and not least the Jackson Hole Symposium hosted by the Kansas City Fed from Thursday-Saturday, according to analysts at Danske Bank.

Key Quotes

“ECB President Mario Draghi is set to be among the speakers for the first time in three years. In 2014, he hinted at QE and now the focus is on tapering signals. We expect him to deliver a dovish message and to not give any new communication on the issue of tapering of asset purchases. When it comes to the Fed, we do not expect anything dramatic. We look for a repeat of signals that the announcement on balance sheet reduction will come relatively soon (likely September) and that one more rate hike is still the base case this year - as signalled by Vice President Bill Dudley last week.”