Eurozone inflation and PMIs amongst market movers today – Danske Bank

Danske Bank analysts point out that in terms of economic data releases, the focus is on preliminary HICP inflation in September in the euro area.

Key Quotes

“The combination of sliding inflation expectations and core inflation hovering around 1.0% in the last two years, despite a decent pick-up in wage growth, is challenging the ECB's credibility. With energy price inflation falling further into negative territory and core inflation stuck at 1.0%, we expect headline inflation to print at 0.9%.”

“Today, we get PMI manufacturing for most countries including Norway and Sweden. We expect PMI manufacturing to fall in Norway, Sweden and the UK but we could see a small pickup in the US ISM manufacturing index in line with the Markit PMI and regional PMIs.”

“The UK Conservative Party Conference continues today so look out for any Brexit related headlines.”