According to analysts at Danske Bank, politics remain a hot topic in financial markets with the Italian-EU budget clash ahead of the official budget submission to the EU on 15 October and the ongoing UK Conservative Party Conference, which ends today.
Key Quotes
“PM Theresa May is scheduled to speak today. Italy’s finance minister Tria is due to speak at 11:30 and Deputy PM Salvini at 15:00 CEST.”
“In the US, we get the ADP employment report and the ISM non-manufacturing index for September today, both tier-2 releases. In the euro area, we will get retail sales in August. In the UK, the important PMI service index is due out at 10:30 CEST. We expect it to show that growth remains subdued.”
“Several FOMC members including Fed Chair Powell are scheduled to speak today but they are unlikely to send any new signals, as the Fed has indicated that it is on autopilot until the neutral rate of 3.0% is reached.”
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