There were no data releases from the UK yesterday, with markets still speculating on possible effects of Brexit as referendum date approaches. Mark Carney could face a challenge in just over two months, regardless of whether Britons choose to stay in or quit the European Union. While the Bank of England governor has signaled a slow tightening path, and investors see no rate increase for years, a vote to stay in the EU on June 23 potentially creates a whole new backdrop. With ‘Brexit’ risk removed, markets could pull in bets for a hike, generating a new communication hurdle for the Monetary Policy Committee, which holds its monthly meeting this week.
From the UK, tomorrow, CPI and PPI figures are scheduled for a release. Analysts anticipate 0.3% increase in CPI and 2.1% incline in PPI Input. There will be no data releases in the US part of the session.
Figures to watch:
CPI/PPI Input (Tuesday 10:30)
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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