Today, we have a thin calendar in terms of global data releases.
In the euro area today, the ECB is set to publish the Survey of Professional Forecasts, containing longer-term inflation expectations.
Recently, the ECB has emphasised these fairly stable survey expectations at a time when market-based inflation expectations have been very weak. However, there is also some weakness in the survey expectations, with an increasing share of forecasters expecting inflation to remain below 2.0% in the longer term.
The consumer confidence figure for October in the euro area is also released today. Together, with other economic survey indicators, consumer confidence has been resilient to the UKs vote to leave the EU. It remains supported by solid employment growth and the still-low oil price but, looking ahead, lower real wage growth is likely to become a headwind.
There are no major data releases due today in Scandinavia.
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