Market themes of the Day: US consumer confidence is set to increase
|What you need to know before markets open
Main themes:
- China’s exports rose 14.5% in USD terms while imports rose 14.3% in September. China's trade surplus with the US hit a record high in September and that could boost fears of a further escalation of the trade war.
- German inflation is expected to remain flat at 2.3% y/y in September.
- US consumer sentiment is expected to rise to 100.4 in September. For details read Valeria’s Preview here.
Europe
- While German inflation is expected to remain flat at 2.3% on the national basis, the harmonized basis are expected to see German inflation at 2.2% y/y in September.
- The Eurozone industrial production is seen rising 0.4% m/m in August after falling -0.8% m/m in July.
UK
- The Bank of England Governor Mark Carney’s IMF speech did not deliver any economic or monetary policy headlines.
- Brexit negotiation behind the curtains heats up before next week’s Brexit summer scheduled for October 17.
US
- The US inflation rose less than expected in September with core inflation staying at 2.2% y/y compared with 2.3% expected while headline US inflation decelerated to 2.3% y/y from August’s 2.7% y/y increase.
- The US initial jobless claims reach 214K in the week ending October 5, up from 207K the week before.
- US consumer sentiment is expected to rise to 100.4 in September. For details read Valeria’s Preview here.
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