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German IFO expectations are expected to show signs of improvement – Danske

FXStreet (Barcelona) - The Danske Bank Research Team forecast an increase for the first time since April in the German IFO data, and highlight the key data flow for today.

Key Quotes

“German IFO expectations are expected to show signs of improvement. We forecast an increase for the first time since April. The ZEW expectations increased for the first time in 10 months in November and although many do not like the financial ZEW expectations, they are usually a good indicator.”

“Weidman is scheduled to speak and it will be interesting to hear his response to the ‘doves’. ECB’s Honohan (Ireland) and Nouy (SSM Chair) will also speak today.”

“The oil market will focus on the outcome of the Iran nuclear negotiations, which are set to conclude in Vienna today.”

“The Danish refinancing auctions continue today. The mortgage banks will sell DKK20.6bn DKK bonds. Hence, we will see a significant drop in the total auction amount compared to last week.”

“The big market mover for oil this week will be the OPEC meeting on Thursday. This weekend an Iranian news agency said that Iran will propose a cut in production of 1mb/d to prop up prices. Note also that today is the deadline for a final agreement regarding the Iranian sanctions. However, according to media reports a new deal will not be struck and an extension of the talks seems likely.”

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