Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
With U.S. markets bridging from the Thursday holiday into the weekend, data is limited and second tier. European data sees Spain sees final inflation data and EZ industrial production for September.
Eurozone Industrial production (1000 GMT)
Monthly industrial production in the eurozone is forecasted to come in at -0.5% for September, showing some signs of recovery compared to -1.6% in August. Dampened industrial production remains largely due to prevailing global supply constraints, according to anecdotal and survey evidence. September annual output likely slowed markedly, following Germany, where y/y IP declined 1.0% and France where it slowed to 2.5%. In particular, last week's September IP data highlighted a decline in automobile production, with France particularly hard hit. All up, yearly IP is projected to have dampened from 5.1% in August to 4.1% in September.
Preliminary Michigan Sentiment Index on the rise (1500GMT)
The University of Michigan consumer sentiment index is seen higher, hitting 72.5 for November up from 71.1 in October. Michigan's CPI inflation index is forecasted to inch upwards from 4.8%y/y in October to 4.9%y/y for November. With US annual inflation coming in higher than anticipated at 6.2%y/y for October, markets could expect to see hikes due in 2022 alongside tapering set to commence mid-November.
There are limited policymaker speeches Friday, although both BOE MPC member Johnathan Haskel, ECB Chief Economist Philip Lane and NY Fed President John Williams all speak.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.