Eurozone: All eyes on October inflation and Q3 GDP numbers - TDS

Analysts at TDS point out that we get data today at 10am for both Eurozone October inflation and Eurozone Q3 GDP and will be the key economic releases for today’s session.

Key Quotes

“For inflation, we had initially seen upside risks for the headline print, but after the substantial downside surprise in yesterday’s German data, are now looking for a softer print. We’re now in line with markets, looking for Eurozone inflation to slip from 1.5% to 1.4% y/y, with maybe a bit more downside coming from energy prices than we had thought after German energy prices were substantially weaker than we had expected. We still look for core CPI to remain unchanged at 1.1% y/y, in line with consensus.”

“For Q3 GDP we’re above consensus in looking for a 0.6% q/q gain (mkt 0.5%), and even a 0.7% print isn’t out of the question. Last week the ECB referred to the Eurozone’s “unabated growth momentum,” and we think that today’s GDP data will confirm that view. Lastly, the ECB’s Visco speaks at a 9:15am event for “World Saving Day.”