Daily Economic Outlook: 6th November, 2015

Market will be focusing on today's  U.S. labour market report. Fed Chair Yellen and FOMC members gave a hint of  interest rate hike in December, but the upcomming data will determine the rate hike.

"This week's releases, including a very strong ISM non-manufacturing survey for October, have boosted expectations of a December Fed move. However, it is undoubtedly the case that today's labour market data and the subsequent release in early December will be key inputs into the decision", says Lloyds bank.

Experts believe that U.S. employment rate in October will be increased by 182k. Though this figure is beter than past past two months performance but it is still less than the average rise in 2014 as well as 2015.

"Yesterday's Inflation Report and press conference by BoE Governor Carney appear to make an early 2016 interest rate hike look unlikely, even if the Fed moves in December. Markets are now pricing in no change until early 2017. Looking at today's data, UK industrial production is expected to have declined modestly in September, although manufacturing output is forecast to rise on the month. A significantly different outturn for industrial production would increase the probability that the initial estimate of Q3 GDP growth of 0.5% will be revised", notes Lloyds Bank.