Before the open: FTSE expected up as markets wait for Carney's Westminister appearance

Predictions before open this morning are reasonably good for the FTSE with most traders predicting an increase. Bank of England governor Mark Carney will be present at the Treasury Committee Hearing for an inflation report this morning at 10.00.

Carney will have to face questions following yesterday's positive unemployment figures (7.7 per cent in May-July, down from 7.8 per cent in the previous quarter) as unemployment may be dropping faster than the bank had expected.

Key events:

  • French August inflation at 07.45. CPI expected to rise from -0.3 per cent to 0.5 per cent.
  • Spanish August inflation at 08.00. CPI expected to rise from -0.5 per cent to 0.3 per cent.
  • European Central Bank montly report at 09.00.
  • Italian July industrial production at 09.00. Expected to stay flat at 0.3 per cent.
  • Bank of England inflation report hearing with Mark Carney at 10.00.
  • Eurozone July industrial production at 10.00. Expected to fall from 0.7 per cent to 0.1 per cent.
  • Italian August inflation at 10.00. Expect to rise from -1.8 per cent to flat.
  • European Central Bank president Mario Draghi speech at 12.40.
  • US initial jobless claims at 13.30. Expected to rise from 323,000 to 330,000.