US: Employment Cost Index in the limelight today - TDS

Analysts at TDS suggest that the Q3 Employment Cost Index will give an update on US wage pressures when published at 8:30.

Key Quotes

“TD looks for an on-consensus 0.7%, which is consistent with a tightening of labor market conditions after the 0.5% print in Q2. Markets expect Conference Board consumer confidence for October to rise to 121.4 from 119.8, which if realized would represent the second highest print of the cycle. Chicago PMI for October will round out the data calendar and the market looks for a pullback to 60.0 from 65.2, though this would leave the index well into expansionary territory.”