Highlights
Switzerland's purchasing managers' index (PMI) for October is seen creeping up from September's lowly 44.9 to 45.6.
In the UK, no revision is expected to the October PMI for the manufacturing sector, leaving the headline index at 45.2, up from September's final 44.3.
Among US data, ADP's October employment number is forecast at 150,000. This would compare with September growth in private payrolls reported by the Bureau of Labor Statistics of 263,000, which was sharply higher than 177,000 in August. ADP's number for September was 89,000, sharply lower than its August number of 180,000.
The Institute for Supply Management's monthly survey is expected to show US manufacturing activity was in contraction for a 12th straight month in October. The sector index compiled by the ISM, which shows general direction, is forecast at 49.0, unchanged from September, when higher new orders and production as well as a surprise pickup in employment pushed it up by 1.4 percentage points to a 10-month high of 49.0, well above the median forecast of 47.8.
Construction spending for September is expected to rise 0.4 percent on the month following August's 0.5 percent. This report has yet to show any dramatic effects of rising financing costs.
The Labor Department's JOLTS report is expected to show job openings decreased to 9.375 million in September from August's 9.610 million., which was much higher than expected in a report that included a significant upward revision to July to 8.920 million.
At 2 p.m. EDT (1800 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. The FOMC is expected to leave its policy rate unchanged for a second straight meeting, letting the cumulative effects of the current tightening cycle cool off economic activity, and thus inflation. It raised the target range for the federal funds rate by 25 basis points to a range of 5.00 to 5.25 percent in July.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EDT (1830 GMT).
In South Korea, consumer inflation in October, which in September rose to 3.7 percent from August's 3.4 percent, are expected to edge back lower to 3.6 percent.
Australia's goods and services trade in September is forecast to post a surplus of A$9.60 billion to roughly match August's slightly stronger-than-expected surplus of A$9.64 billion. Exports rose sharply in August while imports fell slightly.
In the UK, no revision is expected to the October PMI for the manufacturing sector, leaving the headline index at 45.2, up from September's final 44.3.
Among US data, ADP's October employment number is forecast at 150,000. This would compare with September growth in private payrolls reported by the Bureau of Labor Statistics of 263,000, which was sharply higher than 177,000 in August. ADP's number for September was 89,000, sharply lower than its August number of 180,000.
The Institute for Supply Management's monthly survey is expected to show US manufacturing activity was in contraction for a 12th straight month in October. The sector index compiled by the ISM, which shows general direction, is forecast at 49.0, unchanged from September, when higher new orders and production as well as a surprise pickup in employment pushed it up by 1.4 percentage points to a 10-month high of 49.0, well above the median forecast of 47.8.
Construction spending for September is expected to rise 0.4 percent on the month following August's 0.5 percent. This report has yet to show any dramatic effects of rising financing costs.
The Labor Department's JOLTS report is expected to show job openings decreased to 9.375 million in September from August's 9.610 million., which was much higher than expected in a report that included a significant upward revision to July to 8.920 million.
At 2 p.m. EDT (1800 GMT), the Federal Open Market Committee is scheduled to announce the outcome of its two-day policy meeting. The FOMC is expected to leave its policy rate unchanged for a second straight meeting, letting the cumulative effects of the current tightening cycle cool off economic activity, and thus inflation. It raised the target range for the federal funds rate by 25 basis points to a range of 5.00 to 5.25 percent in July.
Federal Reserve Chair Jerome Powell will hold a post-meeting news conference at 2:30 p.m. EDT (1830 GMT).
In South Korea, consumer inflation in October, which in September rose to 3.7 percent from August's 3.4 percent, are expected to edge back lower to 3.6 percent.
Australia's goods and services trade in September is forecast to post a surplus of A$9.60 billion to roughly match August's slightly stronger-than-expected surplus of A$9.64 billion. Exports rose sharply in August while imports fell slightly.
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.
