Muted response on markets to latest North Korea missile; pound continues ascent ahead of Bank of England policymaker speech

US retail sales and industrial production figures perk proceedings up in the afternoon with attention on the markets beginning to turn to the Federal Reserve’s policy meeting next week.

The Fed could announce the winding down of its huge $4.5tn balance sheet, capping off this month’s mini-central banking season, which has seen the BoE and ECB both take a step towards normalising monetary policy. Yesterday’s stronger-than-expected inflation figure across the pond and today’s figures could reinforce the idea that the US is ready for the third hike in the cycle.

Ahead the US’s big week, sterling has built on yesterday’s highs against the dollar, trading 0.3pc at $1.3425.

Full-year results: JD Wetherspoon

AGM: Aberdeen Private Equity Fund, Sterling Part Shares, Invesco Income Growth Trust, PetroNeft Resources, Tungsten Corporation, SVM UK Emerging Fund, Blenheim Natural Resources

Economics: BOE Quarterly Bulletin (UK), CB Leading Index m/m (UK), Retail Sales m/m (US), Industrial Production m/m (US), Business Inventories m/m (US), Prelim UoM Consumer Sentiment (US), Trade Balance (EU)

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