3 Sep 2013
Flash: Markets search for tone ahead of US data – Deutsche Bank
FXstreet.com (Lisbon) - Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank analyze the weekly event risks, the situation in Syria and the prelude to key US data releases.
Key quotes
“The US ISM will likely set the tone for markets today but over the last 24 hours risk assets have been bolstered by a combination of consensus-beating Euroarea, UK and Chinese PMIs as well as expectations of a scaling back/delay to Syrian military action.”
On the latter, an interview with President Assad was published in France’s Le Figaro yesterday where he warned that the Syrian military would retaliate if France takes part in foreign strikes on his forces. Assad said that so far, France and the US have been incapable of providing evidence that his forces used chemical weapons and it would have made no sense to use chemical weapons in an area where his troops were also fighting.
Key quotes
“The US ISM will likely set the tone for markets today but over the last 24 hours risk assets have been bolstered by a combination of consensus-beating Euroarea, UK and Chinese PMIs as well as expectations of a scaling back/delay to Syrian military action.”
On the latter, an interview with President Assad was published in France’s Le Figaro yesterday where he warned that the Syrian military would retaliate if France takes part in foreign strikes on his forces. Assad said that so far, France and the US have been incapable of providing evidence that his forces used chemical weapons and it would have made no sense to use chemical weapons in an area where his troops were also fighting.