- European indices set for slightly lower opening
- US CPI data for September expected to show deceleration
- DOE reports on oil and gas inventories
Futures markets point to a slightly lower opening of the European cash session today. Slight selling pressure can be observed on energy commodities and precious metals markets. AUD, NZD and JPY are the best performing major currencies while GBP, EUR and CAD lag. Cryptocurrencies post small losses.
Key event of the day is the release of the US CPI report for September at 1:30 pm BST. Economists expect slight deterioration of price pressures. However, another month of deceleration may make the Fed rethink the need for aggressive tightening going forward. Market expects headline US inflation to drop but core inflation to rise. In any case, USD and indices may experience elevated volatility around the release time.
Apart from US CPI data, investors will also be offered US initial jobless claims, weekly EIA reports on US oil and gas inventories. When it comes to earnings reports, investors will be offered financials from such companies as BlackRock, Delta Air Lines or Taiwan Semiconductor today.
09:30 am BST - UK, BoE Credit Conditions Survey
1:30 pm BST - US, CPI inflation for August.
• Headline. Expected: 8.1% YoY. Previous: 8.3% YoY
• Core. Expected: 6.5% YoY. Previous: 6.3% YoY
1:30 pm BST - US, jobless claims. Expected: 225k. Previous: 219k
3:30 pm BST - US, EIA natural gas storage. Expected: 123 bcf. Previous: 129 bcf
4:00 pm BST - DOE report on oil inventories.
• Oil inventories. Expected: +1.75 mb (API: +7.10 mb)
• Gasoline inventories. Expected: -1.825 mb (API: -1.05 mb)
• Distillate inventories. Expected: -2.05 mb (API: -4.05 mb)
Top Wall Street earnings releases
- BlackRock (BLK.US)- before market open
- Delta Air Lines (DAL.US)- before market open
- Domino's Pizza (DPZ.US)- before market open
- Taiwan Semiconductor (TSM.US)- before market open
- Walgreens Boots Alliance (WBA.US) - before market open
