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.
UK retail sales will be the early data highlight Friday, with eurozone final inflation, also due, expected to confirm the flash report.
UK retail sales may dip on consumer shift (0700BST)
UK August retail sales could fall short of already-modest expectations, with consumers able to expand spending on services last month -- not least, in the form of staycations – with further bottlenecks reducing the already tight supply of a range of goods, according to MNI's latest Reality Check.
Food sales are the biggest wildcard in forecasting the August outcome, with industry leaders noting a slowing in annual growth, as consumers return to pubs and restaurants following months of imposed home cooking.
Analysts forecast a 0.5% rise in sales volumes between July and August, after an unexpectedly-large 2.5% decline between June and July. Annual growth is expected to rise to 2.7% from 2.5%.
EZ final inflation seen unrevised (1000BST)
Eurozone final inflation data is likely to be unrevised on the flash estimate at a near decade high 3.0% y/y. With German, French and Spanish data unrevised and only a very modest revision to Italian data, it is unlikely data will vary from the increase that saw inflation in August jump sharply from the 2.2% seen in July. Core inflation is expected to be confirmed at a 9-year high of 1.6% y/y.
Michigan sentiment index seen higher (1500BST)
The Michigan consumer sentiment index is seen edging higher in September, recovering some of the August decline. Analysts see the preliminary reading at 72.5 from 70.3 last.
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.