Key economic events for today – TDS
|Analysts at TD Securities (TDS) offer a list of global economic events due on the cards in the day ahead.
Key Quotes:
“SEK: Riksbank minutes are released at 8:30 BST. While the policy statement 10 days ago was explicit about a December or February hike, Governor Ingves and others' statements since the decision suggest a more dovish lean. We'll look carefully at comments from Ingves and Skingsley to see how close they are to shifting their position--anything hawkish from the Governor would be enough to lock in a December hike, but the recent macroeconomic data suggests they might want to wait until early 2019. Governor Ingves participates in a seminar on the Swedish banking crisis of the 1990s at 2pm BST.
EUR: Final August inflation figures are released, and we'll get the detailed breakdown of components. The ECB's Cœuré speaks at 10am BST and Praet delivers a speech on the economy at 11:15 BST.
RUB: Either today or tomorrow August IP data will be released. The market is looking for 2.5% Y/Y down from the prior 3.9%.
TRY: July IP growth is expected at 1.9% Y/Y, down from the prior 3.2%. Output growth is clearly slowing as domestic demand slows and nominal rates move higher. The PMI index has been below the 50 level since April and the real sector confidence index has plummeted to 96.3 in August from 109.2 at the start of this year.
CAD: Existing home sales for August will give an update on the ongoing recovery in the housing market, with preliminary data indicative of another modest increase on the month.
USD: Empire manufacturing is the lone economic release with the market looking for the index to edge lower to 23.0 from 25.6.”
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