US: Focus on geopolitics and consumer confidence – Danske Bank

It is a fairly thin data release calendar today, which means that market focus will be on the situation surrounding North Korea after the country's leader claimed yesterday that the US had declared war on the country, according to the research team at Danske Bank.

Key Quotes

“In the US, the only major data release today is the Conference Board consumer confidence indicator for September. We estimate that the indicator should fall in tandem with the preliminary Michigan consumer confidence number to a level of around 121.5. Note that despite the fall, both indicators will still be at very high levels, indicating continued support for consumer spending.”

“Several Fed speakers are due to speak, including Neel Kashkari (voter, dovish), Loretta Mester (non-voter, hawkish) and Fed chair Janet Yellen (voter, neutral).”