Looking forward to next week, Nordea.......>

EMU DATA: Looking forward to next week, Nordea point out the "highlight next

week will be inflation numbers from the US and Euro area".

- In terms of the US, Nordea's economists see "the core PCE inflation rate to

remain steady at 1.4% y/y, down from 1.9% as recently as January and well below

the 2% target" but they add that the August CPI print gave some tentative

support to the the Fed view that the slow down in inflation was transitory.

- For Europe, Friday sees HICP data upon which Nordea add "The recent monthly

changes in core inflation have gained some speed and we expect this trend to

continue but monthly fluctuations may well occur. Our estimate of core inflation

in September is 1.2% but is subject to upward risk."

- Aside from inflation, there is Sunday's German election result, Draghi speaks

to Parliament on Monday and IFO the same day.

- Month end index extensions are on Friday and the possible Catalan referendum

on Sunday 1 October.