Analysts at TD Securities say that the market is expecting the Richmond manufacturing index of the U.S. to improve marginally in October to -7 following the sharp 10pt decline to -9 in September (10 am ET).

• “This would largely mimic the improvement in the NY Empire survey, but stand in contrast with the decline in the Philly Fed index.
• Separately, the consensus is looking for a modest -0.7% m/m retreat in existing home sales for September, following the nice 1.3% jump in the month before. All in, existing home sales are tracking a notable recovery so far in 2019.”