Highlights
The Confederation of British Industry survey of the UK retail, wholesale and motor trade sector is expected to show the headline sales balance is seen little changed at minus 13 percent in October, just 1 percentage point above its September level.
At 8:15 a.m. EDT (1415 CET/1215 GMT), the European Central Bank will release its monetary policy decision. The ECB is expected to pause after raising interest rates for the 10th straight meeting in September, when Governing Council decided to raise the key policy interest rate by 25 basis points to 4.50 percent, noting that inflation continued to decline but was still expected to remain too high for too long.
ECB President Christine Lagarde will hold a post-meeting news conference at 8:45 a.m. EDT (1445 CET/1245 GMT).
Among US data, durable goods orders are expected to jump 1.0 percent on the month in October following September's slight 0.1 percent increase. Excluding transportation, orders are seen up 0.2 percent, slowing from a 0.4 percent gain.
Third-quarter GDP, supported by consumer spending, is expected to accelerate sharply to 4.1 percent annualized growth versus second-quarter growth of 2.1 percent.
The US goods deficit (Census basis) is expected to hold steady at $85.4 billion in September after narrowing by $6.3 billion in August to $84.6 billion.
New jobless claims for the October 21 week are expected to come in at 206,000, up from 198,000 in the prior week.
Wholesale inventories are expected to increase 0.1 percent in the advance report for September that would follow a 0.1 percent dip in August
Pending home sales in September, which in August fell 7.1 percent, are expected to rebound a slight 0.2 percent.
Federal Reserve Board Governor Christopher Waller will give opening remarks at the Economics of Payments XII Conference at 9 a.m. EDT (1300 GMT).
Consumer inflation in Tokyo, the leading indicator of the national average, is forecast to be steady at 2.5 percent in October in the core CPI (excluding fresh food) after slowing to a 14-month low in September from 2.8 percent in August as halved subsidies for electricity and natural gas utilities slowed the drop in overall energy costs, offsetting the effects of the peaking of processed food price markups. The year-over-year rise in the total CPI is also seen unchanged at 2.8 percent after moderating to a 12-month low in September from 2.9 percent in August.
At 8:15 a.m. EDT (1415 CET/1215 GMT), the European Central Bank will release its monetary policy decision. The ECB is expected to pause after raising interest rates for the 10th straight meeting in September, when Governing Council decided to raise the key policy interest rate by 25 basis points to 4.50 percent, noting that inflation continued to decline but was still expected to remain too high for too long.
ECB President Christine Lagarde will hold a post-meeting news conference at 8:45 a.m. EDT (1445 CET/1245 GMT).
Among US data, durable goods orders are expected to jump 1.0 percent on the month in October following September's slight 0.1 percent increase. Excluding transportation, orders are seen up 0.2 percent, slowing from a 0.4 percent gain.
Third-quarter GDP, supported by consumer spending, is expected to accelerate sharply to 4.1 percent annualized growth versus second-quarter growth of 2.1 percent.
The US goods deficit (Census basis) is expected to hold steady at $85.4 billion in September after narrowing by $6.3 billion in August to $84.6 billion.
New jobless claims for the October 21 week are expected to come in at 206,000, up from 198,000 in the prior week.
Wholesale inventories are expected to increase 0.1 percent in the advance report for September that would follow a 0.1 percent dip in August
Pending home sales in September, which in August fell 7.1 percent, are expected to rebound a slight 0.2 percent.
Federal Reserve Board Governor Christopher Waller will give opening remarks at the Economics of Payments XII Conference at 9 a.m. EDT (1300 GMT).
Consumer inflation in Tokyo, the leading indicator of the national average, is forecast to be steady at 2.5 percent in October in the core CPI (excluding fresh food) after slowing to a 14-month low in September from 2.8 percent in August as halved subsidies for electricity and natural gas utilities slowed the drop in overall energy costs, offsetting the effects of the peaking of processed food price markups. The year-over-year rise in the total CPI is also seen unchanged at 2.8 percent after moderating to a 12-month low in September from 2.9 percent in August.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.
