• The focus today will probably be on the
double appearance of the European Central Bank President Mario Draghi
• ECB President is expected to point out
again that the Bank is ready to act more if needed
• Chinese CPI slowed to 1.6% yoy in
September from +2.0% yoy in the previous month, while the PPI fell deeper into
negative territory at 1.8% yoy
• The below consensus figures add to
concerns of sluggish global growth and sustained low inflationary pressures.
• It seems that low interest rates fail to
stir economic activity and investors are becoming worried about central banks’
ability to do anything about it.
• Today:
• Germany: Final CPI for September
• UK: The unemployment rate is forecast to have declined to 6.1% in August
from 6.2%, and the average weekly earnings to accelerate slightly
• US: Retail sales for September, the Empire
State manufacturing survey for October and the MBA mortgage applications week
ended on Oct 10
• Two speakers scheduled today: ECB Supervisory Board Chair Daniele
Nouy and BoE policy maker Martin Weale
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