Market movers today
Today's key release will be the US CPI inflation figures for October. We expect inflation pressure to have remained muted, as CPI inflation is likely to have been negatively affected by the fall in energy prices in October. Hence, we project the headline CPI inflation rate to have fallen to 1.9% y/y from 2.2% in September, while the core inflation rate will remain unchanged at 1.7%.
In the UK, the labour market report for September is due to be released, where consensus is for an unchanged reading of the unemployment rate at 4.3%, while wage growth is likely to stay muted, despite the low unemployment level.
After yesterday's panel debate between the Fed's Janet Yellen, the ECB's Mario Draghi, the BoE's Mark Carney and the BoJ's Haruhiko Kuroda brought little news regarding the future direction of monetary policy, markets will again watch out for any comments from the ECB's Peter Praet at the closing panel of the ECB's conference on central bank communication today.
There are no significant key economic data releases in the Scandi countries.
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