Analysts at Danske Bank suggest that politics continue to be in the spotlight as Italy faces a deadline today for a revised budget to the EU Commission.
Key Quotes
“There are no signs though that Italy will budge and change it and the way is thus paved for a collision with the EU. The Commission will most likely proceed by initiating an excessive deficit procedure against the country.”
“Brexit negotiations continue today and tomorrow, as tomorrow is the deadline if there is to be an agreement this month. We think it looks increasingly difficult. Supporting this view is a story from The Guardian claiming the UK Cabinet will not sign off a final deal at its meeting today.”
“On the data front, German ZEW is expected to stabilise while UK unemployment is set to stay flat at 4.0% (3M).”
“In Norway, we look for mainland GDP to have risen 0.3% q/q in Q3. In Sweden, Riksbank hawk Deputy Governor Ohlsson is due to give a speech on the economic situation and monetary policy at 15:00.”
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