US Retail Sales and Brexit negotiations amongst market movers today – Danske Bank
|Danske Bank analysts suggest that market’s focus is on Brexit negotiations, as today is the last day to reach an agreement ahead of the EU summit starting tomorrow.
Key Quotes
“As obstacles remain, we think a deal is unlikely, but that is not the same as saying the negotiations are breaking down. Our base case remains, however, that we will get another extension followed by a snap election.”
“Today's main data release is US retail sales for September. Retail sales have grown for six consecutive months, so we would not be surprised if retail sales disappoint after some strong months. The data release is going to be key for many FOMC members whether to support another cut later this month or not.”
“Fed's Kaplan, Evans and Brainard all speak today. The question is whether they are supportive of another Fed cut or not. The Federal Reserve also releases its beige book at 20:00 CEST. ECB's Knot speaks at 14:30 CEST and Lane speaks at 16:00 CEST.”
“UK CPI inflation for September is due out today at 10:30 CEST.”
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