China’s headline inflation rose 2.5% on the year ending September. This was a modest increase from August inflation rate which touched 2.3%. However, producer prices index data rose at a slower pace for the third consecutive week. PPI was seen rising just 3.6% on the year missing estimates of a 3.7% increase. In August, China’s PPI was at 4.1%.
Data from the UK showed that wage growth picked up sharply. Excluding bonuses, wages in the UK advanced 2.7% in the three months ending August. This was higher than the median estimates of 2.6%. The UK’s unemployment rate held steady at 4.0% for the third consecutive month.
Data from the Eurozone showed that the German economic sentiment index weakened to -24.7 unexpectedly. The decline was seen coming due to the uncertainty on global trade policies.
The UK’s Office for National Statistics will be releasing the inflation report today. Consumer prices in the UK are forecast to rise 2.6% on the year ending September 2018. The forecasts mark a modest slowdown in the pace of inflation increase. Core inflation rate is also expected to rise at a slower pace of 2.0% from 2.1% in August.
Following this, the Eurozone’s final inflation figures will be coming out. Headline CPI is expected to be confirmed at 2.1% while core inflation rate is expected to rise at a much slower pace of 0.9%.
The NY trading sessions start off with Canada’s manufacturing sales report. This is followed by the building permits and housing starts data. Building permits are expected to rise by 1.28 million while housing starts are expected to rise at a slower pace of 1.21 million.
Later in the evening, the Fed will be releasing its meeting minutes from September. The minutes mark the monetary policy decision where officials hiked interest rates by 25 basis points.
