Analysts at National Bank Financial (NBF) see, in the U.S., the release of September’s CPI data to attract the most attention this week.

• “A larger-than-seasonal drop in gasoline prices in the month may translate into just a modest increase in headline prices (+0.1% m/m), a development that would allow the annual rate to rise one tick to 1.8%. Core inflation, meanwhile, should have continued to be supported by the services sector, rising 0.2% on a monthly basis. As a result, the 12-month rate should stay put at 2.4%.”