With the deadline looming on Monday focus in the US will continue to be on the negotiations about an agreement for funding non-mandatory government spending for the new budget-year to avoid a government shutdown. With the Senate yesterday voting to go ahead with a bill that includes funding for Obama's healthcare plan, the ball now appears to have been played back to the Republican House-majority to suggest a path forward.
In the US the benchmark revision of the important non-farm payroll data is scheduled to be released at 16:00 CET. However, the revision only covers data until March this year, so the revisions should not alter the picture of the US labour market in recent months. In addition, the second revision of Q2 GDP and the weekly claims data could get some attention in the US.
In Europe the most important data is money supply growth for the euro area and not least the data for household and business credit growth released in connection with these data. In addition we have speeches from ECB governing council members Jörg Asmussen and Vitor Constancio.
In Sweden trade balance data, producer prices and household credit growth are released and in Denmark the unemployment rate is expected to remain unchanged at 5.7% in August.
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