Eurozone M3 figures and US capex orders amongst market movers today – Danske Bank

In the euro area, figures on M3 money growth and loan growth for August are due and will be amongst market movers for today’s session in addition to the US core capex orders suggest the research team at Danske Bank.

Key Quotes

“In July, M3 growth was reported at 4.5% y/y, which is somewhat lower than the 4.9-5.0% level reported in previous months, but we estimate money growth returned to this range in August.” 

“In the US, core capex orders for August are due to be released. Although core capex has been trending upwards since last summer at approximately 0.5% per month, overall industrial production fell 0.9% m/m in August. Hence, we estimate an unchanged core capex in August. However, uncertainty is particularly large for August due to the hurricanes.”