Highlights
The US consumer inflation expectations report at 11 am ET is in focus given all the worries about inflation. The Econoday consensus forecast for one-year inflation calls for a 3.6 percent figure for September, basically unchanged from 3.58 percent in August and 3.63 in July. This is the New York Fed's survey which complements the Conference Board's monthly consumer confidence report which includes one-year inflation expectations. The one-year inflation expectations figure tends to track the latest gasoline price so it would not be surprising if there is an upside surprise in today's Fed report. Fed officials have repeatedly said their policy concern is to prevent any un-anchoring of inflation expectations, which makes this survey a must-watch.