Euro area in focus (unfortunately)
- The attention today is on the European time zone. The US returns from the sort-of holiday of Monday with only the NFIB survey of small business sentiment by way of distraction. It is not really something to get too excited about.
- The Euro area offers a range of consumer price numbers, with inflation in France and Finland and deflation in Spain and Italy. Investors might look to see if the impact of a weaker Euro on commodity prices has had a bearing (it is unlikely to impact via non-commodity imports).
- German ZEW expectations and the ancient history of August Euro area industrial production are due. Both are likely to weaken, which in the current climate may feed the inclination to look at everything negatively.
- The UK BRC retail sales data showed a decline, which is being attributed to the effects of lower food prices, and warmer weather delaying clothing sales. Consumer and producer price inflation data lie ahead.
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