UK employment and Italian GDP amongst market movers today – Danske Bank

In the UK, the key release today is the labour market report for June while the release of Italian Q2 GDP figures will garner attention as well, according to analysts at Danske Bank.

Key Quotes

“Average weekly earnings growth has decreased in recent months and the subdued wage growth highlights the lack of underlying inflation pressure, diminishing the likelihood of a rate hike by the Bank of England for the remainder of 2017. We expect the unemployment rate to stay unchanged.”

“In the euro area, focus is on the first release of Italian Q2 GDP figures, where we expect growth of 0.4% q/q in line with positive signals from leading indicators such as PMI. Although we project the modest economic recovery in Italy to continue, with annual GDP growth of 1.4% this year, risks are still looming in the background for the country.”