UK employment and German ZEW eyed today – Danske Bank

Danske Bank analysts point out that after the surprisingly dovish policy message from Bank of England last week, the UK jobs report for September will be interesting today, as the past couple of months have shown decreasing employment.

Key Quotes

“In Continental Europe, the ZEW indicator for November will be released. Last month the expectations - current conditions spread turned positive again for the first time since May, boding well for a further stabilisation in PMI manufacturing. A further improvement today will strengthen this signal.”

“Central bank speakers from the ECB (Coeuré and Mersch) and the Fed (Harker and Clarida) will also be scrutinised by markets for any news. Yesterday we updated our Fed call, now expecting only one more cut in 3 to 6 months (previously three more cuts).”

“In Scandinavia, Swedish labour statistics and inflation expectations as well as Norwegian Q3 GDP and wage growth figures are in focus.”