US retail sales and German industrial production amongst market movers today – Danske Bank

According to analysts at Danske Bank, Brexit remains very much in focus this week, with three key votes in the House of Commons coming up starting Tuesday.

Key Quotes

“We think the most likely outcome is that the House of Commons will vote in favour of asking the EU27 for a short extension of Article 50.”

“The US-China trade talks are also entering the final stage and markets will keep an eye on any headlines announcing a date for the summit between Donald Trump and Xi Jinping.”

“In the euro area, we get German industrial production figures for January today. Factory orders on Friday showed another monthly decline of 2.6% m/m, but the details revealed that orders from car manufacturers continued to recover in a further sign that activity in the sector is normalising.”

“In the US, retail sales for January will be an important gauge for the strength of the US economy currently. In December, the retail sales control group fell by 1.8% m/m, the biggest drop since January 2000. We think the drop was a one-off and look for January's numbers to come in at 1.0% m/m (3.3% y/y).”