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Euro-area retail sales and Yellen amongst market movers today – Danske Bank

Analysts at Danske Bank suggest that Euro-area retail sales are expected to rebound in September after a 0.5% drop in August - consumer confidence is at the highest level in 20 years pointing to continued robust consumption.

Key Quotes

“Chinese FX reserves are due today but no time of the release has been announced. The reserves are expected to be broadly flat and have not attracted much attention since capital outflows stabilised again in spring 2016.”

“Tonight, Fed Chairman Janet Yellen will speak at an event where she will be given an Award for Ethics in Government. However, we do not expect her to say anything about the monetary policy outlook in her speech, and indeed as she steps down in February, her speeches are getting less important by the day.”

“The US House of Representatives' tax-writing committee continues to work on a tax reform with a proposal possibly due by the end of the week, but markets will stay alert to progress on this issue to sense how wide raging it will be.”

“US President Trump arriving in Seoul, South Korea, could put focus back on geopolitical tensions with North Korea.”

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