UK employment and China’s 19th congress amongst market movers today – Danske Bank

In China, the 19th Congress of the Communist Party begins today, where the top leadership will see a big reshuffle, according to analysts at Danske Bank.

Key Quotes

“The Congress will reveal how much President Xi Jinping will strengthen his power and is also likely to give a signal of a deepened reform focus.”

“In the UK, we are due to get the labour market report for August, which is likely to show no further reduction in the unemployment rate and unchanged wage growth and should hence not be a game changer for the Bank of England (BoE) members' view of the economy ahead of the 2 November meeting.”

“In Germany, coalition talks to form a 'Jamaica' coalition of CDU/CSU, FDP and the Greens kicks off officially today but given large policy and ideological differences between the parties, negotiations are expected to drag on and conclude only some time towards the end of this year.”