Market Movers
Today's calendar for economic data releases is relatively thin.
Main focus will be on US monetary policy as Fed's Dudley (voter, dovish), Powel (voter, neutral) and Fed Chair Yellen will speak this afternoon (CET). Also in the US, data for housing starts and building permits for September will attract some attention. The rise in building permits in August is expected to be reflected in an increase in starts in September, while permits are expected to fall back slightly. The overall picture is of a housing market continuing to benefit from a favourable mix of low interest rates and positive real income growth. Homebuilding activity is also still below the long-term trend, which points to further improvements in the housing market. Yesterday's US NAHB housing market index release supports this view.
Today will also bring current account figures for Switzerland and the euro area.
We expect the National Bank of Hungary to leave rates unchanged today at 1.35%.
There are no important data releases in Scandinavia today.
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