Economic calendar: UK labour data in the spotlight

Summary:

• UK labour market report should draw attention before noon
• Swedish inflation is also worth looking at
• Riksbank’s Ingves to take the floor this afternoon

8:30 am BST - Inflation from Sweden for August: Swedish price growth is expected to have stayed broadly unchanged compared to the pace seen in July, according to the Bloomberg consensus. Keep in mind that investors might be remarkably sensitive to this release given what they heard from the Riksbank last week. Let us notice that the Swedish central bank surprised market participants with its hawkishness suggesting that a rate cut is still forecast to take place at the end of this year or in early 2020. 

9:00 am BST - Industrial production from Italy for July

9:30 am BST - UK labour market report for July: Brexit has undoubtedly stolen the show in recent days, however, the UK Parliament was suspended on Monday and macroeconomic readings might get greater investors’ attention. The consensus points to the stable jobless rate at 3.9%, average weekly earnings being unchanged at 3.7% and earnings excluding bonuses to have declined to 3.7% from 3.9%. 

1:15 pm BST - Canadian housing starts for August

1:30 pm BST - Canadian building permits for July

3:00 pm BST US JOLTS for July: The Bloomberg median estimate suggests 7331k vacancies, slightly down compared to 7348k seen in June. 

Central bankers’ speeches:

• 8:00 am BST - Bank of Spain’s Hernandez de Cos

• 1:30 pm BST - Riksbank’s Ingves