Before the open: Markets remain muted by uncertainty from Fed and Germany

Further Fed discussions on last week's news saw US markets close lower again yesterday for the third day.

In the Eurozone, deliberations on a grand coalition continue in Germany and strikes continue in Greece.

Germany's IFO business climate data is expected to come in at 108.4, up from 107.50. This figure will be in focus following yesterday's manufacturing and services PMI data for September which came in slightly lower than expected but reflected pretty well on the German economy.

Key events:

  • German IFO Sept at 9.00. Expected at 108.2, up from 107.5
  • Italy trade balance Aug at 9.00.
  • UK BBA Mortgage Approvals Aug at 9.30. Expected at 38.6k, up from 37.2k
  • US Redbook index 15 Sept at 13.55
  • US house price index Aug at 14.00. Expected up 0.9 per cent from 0.7 per cent
  • US S&P/Case-Shiller home price indices July at 14.00. Expected up 12.4 per cent from 12.1 per cent
  • US FOMC's Pianalto speech at 14.30
  • US consumer confidence Sept at 15.00. Expected at 79.8, down from 81.5
  • US Richmond Fed manufacturing index Sept at 15.00. Expected at 17, up from 14
  • UK MPC's Bean speech at 18.00
  • US Fed's George speech at 18.00