Market themes of the Day: UK retail sales and Salzburg meeting headline
|What you need to know before markets open
Main themes:
- The UK Prime Minister Theresa May is said to reject Barnier improved Irish Brexit offer
- The UK inflation accelerated unexpectedly to 2.7% y/y with core inflation rising 2.1% y/y in August boosting Sterling to a fresh 7-week high of 1.3215.
- The Uk retail sales are seen falling -0.2% m/m on the total as well as the core basis in August. For more details read my Preview here.
- New Zealand Dollar surged after the Q2 GDP surprised on the upside rising 1.0% Q/Q and 2.8% y/y.
Switzerland
- The Bank of Switzerland is expected to keep the monetary policy unchanged in September largely turning to a non-event.
Europe
- The Eurozone consumer confidence is expected to fall to -2.0 in September.
- German Bundesbank President Jens Weidmann is scheduled to deliver a speech titled "Perspectives for Europe and the euro area" at the Center for European Politics, in Freiburg at 15:15 GMT.
UK
- The UK Prime Minister Theresa May is leaving for the unofficial Brexit summit with European leaders in Salzburg, Austria.
- The total UK retail sales are expected to fall -0.2% m/m in August with core retail sales stripping the basket off motor fuel sales falling also -0.2% m/m. For more details read my Preview here and learn how to trade it with GBP/USD here.
US
- The US housing starts rose strong 9.2% m/m in August while building permits decreased -5.7% m/m in the same month.
- The US initial jobless claims are expected to increase to 210K in the week ending September 14.
- Philadelphia Fed index is expected to increase to 17.0 in September from 11.9 in August.
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