Market themes of the Day: UK wages and German investors sentiment are both expected to decelerate
|What you need to know before markets open
Main themes:
- The Brexit deal looks distant after weekend’s collapse of talks with the deal possibly made sometime between now and November Brexit summit, belittling the importance of Brexit summit starting this Wednesday. The European Council President Donald Tusk said no-deal Brexit more likely than ever before. The war of words and attitudes is set to continue.
- UK wages are expected to decelerate to 2.4% on regular pay basis while decelerating to 2.8% on total pay basis while unemployment is expected to remain stable at a 4-decade low of 4.0% in September. For details read my Preview here.
China
- China’s inflation rose 2.5% in September, while producers’ prices increased 3.6% y/y.
Europe
- Italy approved a deficit-hiking budget and now awaits EU's verdict.
- German investors confidence indicator from ZEW Institute is expected to -11.3 in October from -10.6 in the previous month.
UK
- UK wages are expected to decelerate to 2.4% on regular pay basis while decelerating to 2.8% on total pay basis while unemployment is expected to remain stable at a 4-decade low of 4.0% in September. For details read my Preview here.
US
- US retail sales report missed the expectations rising 0.1% m/m on the total basis in September while falling -0.1% m/m excluding car sales. The control group of the US retail sales included in the GDP report increased 0.5% m/m, beating the market expectations.
- The US industrial production is expected to increase 0.3% over the month in August, the Fed is expected to report.
- Federal Reserve Bank of San Francisco President Mary Daly gives a lecture at Wellesley College in Massachusetts at 20:15 GMT.
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