Market Movers ahead
- In the US, we look for a small rebound in ISM manufacturing and a further moderation in employment growth to around 100,000. Attention will also remain on the prospect of possible impeachment of US President Donald Trump.
- Chinese PMI data for September will give more insight into the extent of the economy’s weakness. We expect the numbers to still show weakness but not point to a hard landing.
- We project the flash release for euro area inflation to fall to 0.9% in September from 1.0% in August.
- Brexit will also stay in focus with the deadline of 31 October only one month away.
- In Scandi, focus turns to PMI data in all countries, Norwegian retail sales and a slew of speeches by Riksbank members.
Weekly Wrap-up
- Gloomy euro area PMIs add to recession fears in Europe.
- High-level US-China trade talks likely to come in the week of 7 October.
- US President Donald Trump faces significant pressure as the Democrats initiate an impeachment inquiry.
- UK Supreme Court rules against Prime Minister Boris Johnson, judging the suspension of parliament unlawful.
- Stock markets ease, USD continues to strengthen.
