Market Movers
US industrial production is expected to rebound in September on the back of subdued industrial production in the previous two months. The overall picture remains that growth in industrial production has eased a bit in Q3 compared with Q2. The NAHB house builder survey for October will give the first early indication of the strength of the housing market in the US. The NAHB index has improved in the past four months and on the surface suggests that the housing market has regained its strength from mid-2013. Finally, weekly initial unemployment claims is expected to remain below 300k, underscoring that the US labour market remains strong.
In the euro area final HICP inflation for September will be released today. Based on the data released for the individual countries we expect September HICP inflation to be confirmed at 0.3% y/y.
In the US we have a flood of Fed speeches today. Plosser (hawk, non-voter), Lockhart (neutral, voter 2015), Bullard (hawk, non-voter) and Kocherlakota (dove, voter) are all scheduled to speak today. Fed chairwoman Janet Yellen is also scheduled to make a public appearance but no speech or Q&A session is scheduled. In Europe ECBs Coene and Visco will speak today. In the current environment central bank speeches both in the US and euro area will be followed closely.
To Read the Entire Report Please Click on the pdf File Below