Eurozone and US inflation amongst market movers today – Danske Bank
|Danske Bank analysts point out that in the euro area, we get the preliminary August HICP figures today.
Key Quotes
“This will be the last inflation input before the ECB meeting on 12 September, hence setting the scene for the monetary stimulus package. In July, headline inflation fell to a three-year low of 1.0% y/y, while core inflation stood at 0.9% - just below the 1.0% level it has hovered around for the past five years. Energy prices have fallen substantially since August and hence we expect both headline and core inflation to print at 0.9% in August.”
“After a cacophony of Fed speakers last week, US inflation data will be in focus today with the PCE figures for July due out. We expect PCE core rose +0.2% m/m in July, implying an unchanged PCE core inflation rate at 1.6%.”
“In the Scandi countries, we are looking forward to Danish Q2 GDP figures and Norwegian unemployment data for August.”
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