Morning Update – 18/09/2017 – by Arjun Lakhanpal

Morning all.. Wall St closed former on Friday but in a quiet session with the S&P nudging up 0.18% but it was GBP that dominated as the most dovish member of the MPC suggested he could see a hike coming.. In Asia we had another quiet session with the Nikkei closing up a solid 0.52% as no noise from N.Korea. KCNA: NK aiming to establish “military equilibrium” with US; “will make the US rulers dare not talk about military option”. Markets ignored this talk again. China Ambassador to Washington: US should stop issuing threats over NK and do more to resume dialogue and negotiation; China prepared to implement UN Sec Council resolution, “no more, no less”; China will never accept NK as a nuclear state; In FX the markets were caught in very tight ranges but GBP held solid gains just around. 1.3600. UK September Rightmove House Price index showed: -1.2% vs -0.9% previously. CEBR UK Growth Forecast: expects growth of 1.6% this year from 1.3% & 1.4% next year from 1.2%; citing pick up in manufacturing and view that worst of consumer spending squeeze is over. Data from Asia saw China Aug House Price index: +8.3% y/y vs +9.7% prev; house price rose in 46 of 70 cities m/m (vs 56 in July). China Eco Info Daily: GDP growth may slow a little in Q4, projects 6.8% this year. In Japan the local Japanese media: Japan PM Abe considering calling snap election as early as October to take advantage of uptick in approval rating and disarray in main opposition party. This morning we get a look at the final revisions to EU CPI data but little else..Good luck.