Highlights
The UK labour market report is expected to show the ILO unemployment rate for the three months to September edged up to 4.3 percent from 4.2 percent in the previous period. Average earnings growth for the period is forecast to ease to 7.5 percent from 8.1 percent previously, a result that would still be elevated.
Switzerland's producer and import price index is seen edging 0.1 percent higher on the month in October after a 0.1 percent dip in September.
The ZEW monthly survey of financial experts in Germany is likely to show sentiment has improved. The current conditions index is expected to rise to minus 76.0 in November after deteriorating to minus 79.9 in October from minus 79.4 in September. That would be still weaker than minus 71.3 seen in August. The expectations (economic sentiment) index is forecast at plus 3.0, up further from October's minus 1.1 and September's minus 11.4.
In the Eurozone, no revisions are expected to the preliminary flash GDP data for the July-September period, leaving a 0.1 percent quarterly contraction and a 0.1 percent annual growth rate.
In the US, the small business optimism index compiled by the National Federation of Independent Business (NFIB) is expected to slide to 90.5 in October from 90.8 in September. It has been below the historical average of 98 for 21 months in a row.
US CPI data for October is forecast to show a slowdown in the annual consumer inflation rate to 3.3 percent from September's 3.7 percent, thanks to easing energy costs. However, the core measure, excluding food and energy, remains stubborn, forecast at 4.1 percent after rising at the same pace in the prior month.
On the month, the total CPI is seen easing to a 0.1 percent rise after a 0.4 percent gain in September while the core rate is expected to be steady at 0.3 percent.
Among Fed speakers, Federal Reserve Vice Chair Philip Jefferson will give a keynote speech on"Uncertainty" before the SNB-FRB-BIS High-Level Conference on Global Risk, Uncertainty, and Volatility organized by the Swiss National Bank, Federal Reserve Board and the Bank for International Settlements at 5.30 a.m. EST (1030 GMT).
Federal Reserve Vice Chair for Supervision Michael Barr will testify before the US Senate Committee on Banking, Housing, and Urban Affairs hearing,"Oversight of Financial Regulators" at 10 a.m. EST (1500 GMT).
Cleveland Federal Reserve Bank President Loretta Mester will give brief opening remarks before the virtual"Conversations on Central Banking: The Unequal Burden of Inflation" event hosted by the Federal Reserve Bank of Cleveland at 11 a.m. EST (1600 GMT).
Chicago Federal Reserve Bank President Austan Goolsbee will participate in a conversation on the economy and monetary policy before the Detroit Economic Club at 12:45 p.m. EST (1745 GMT).
Japan's third quarter GDP is expected to post its first contraction in four quarters, down 0.2 percent on quarter, or an annualized 0.6 percent, as net exports slipped back after a sharp rebound in the second quarter, public works spending slowed, pent-up demand for eating out and traveling waned and firms turned cautious about capital investment. That would follow strong growth of 1.2 percent on quarter, or an annualized 4.8 percent in April-June, which was led by a sharp rebound in net exports amid easing import costs, which mitigated drops in consumption and capital investment.
In Australia, the upward pressure on wages in the third quarter is forecast to rise to 1.3 percent on quarter from 0.8 percent in the second quarter and to 3.9 percent on year from 3.6 percent previously.
Among key Chinese data, the increase in fixed asset investment for the first 10 months of the year is expected to be 3.1 percent on year in October, unchanged from September's 3.1 percent rate.
Industrial production is seen up 4.6 percent on year in October versus a 4.5 percent rise in September, which was slightly higher than expected. The year-over-year increase in retail sales is expected to post a faster pace of 6.9 percent in October, compared to 5.5 percent in the prior month.
Switzerland's producer and import price index is seen edging 0.1 percent higher on the month in October after a 0.1 percent dip in September.
The ZEW monthly survey of financial experts in Germany is likely to show sentiment has improved. The current conditions index is expected to rise to minus 76.0 in November after deteriorating to minus 79.9 in October from minus 79.4 in September. That would be still weaker than minus 71.3 seen in August. The expectations (economic sentiment) index is forecast at plus 3.0, up further from October's minus 1.1 and September's minus 11.4.
In the Eurozone, no revisions are expected to the preliminary flash GDP data for the July-September period, leaving a 0.1 percent quarterly contraction and a 0.1 percent annual growth rate.
In the US, the small business optimism index compiled by the National Federation of Independent Business (NFIB) is expected to slide to 90.5 in October from 90.8 in September. It has been below the historical average of 98 for 21 months in a row.
US CPI data for October is forecast to show a slowdown in the annual consumer inflation rate to 3.3 percent from September's 3.7 percent, thanks to easing energy costs. However, the core measure, excluding food and energy, remains stubborn, forecast at 4.1 percent after rising at the same pace in the prior month.
On the month, the total CPI is seen easing to a 0.1 percent rise after a 0.4 percent gain in September while the core rate is expected to be steady at 0.3 percent.
Among Fed speakers, Federal Reserve Vice Chair Philip Jefferson will give a keynote speech on"Uncertainty" before the SNB-FRB-BIS High-Level Conference on Global Risk, Uncertainty, and Volatility organized by the Swiss National Bank, Federal Reserve Board and the Bank for International Settlements at 5.30 a.m. EST (1030 GMT).
Federal Reserve Vice Chair for Supervision Michael Barr will testify before the US Senate Committee on Banking, Housing, and Urban Affairs hearing,"Oversight of Financial Regulators" at 10 a.m. EST (1500 GMT).
Cleveland Federal Reserve Bank President Loretta Mester will give brief opening remarks before the virtual"Conversations on Central Banking: The Unequal Burden of Inflation" event hosted by the Federal Reserve Bank of Cleveland at 11 a.m. EST (1600 GMT).
Chicago Federal Reserve Bank President Austan Goolsbee will participate in a conversation on the economy and monetary policy before the Detroit Economic Club at 12:45 p.m. EST (1745 GMT).
Japan's third quarter GDP is expected to post its first contraction in four quarters, down 0.2 percent on quarter, or an annualized 0.6 percent, as net exports slipped back after a sharp rebound in the second quarter, public works spending slowed, pent-up demand for eating out and traveling waned and firms turned cautious about capital investment. That would follow strong growth of 1.2 percent on quarter, or an annualized 4.8 percent in April-June, which was led by a sharp rebound in net exports amid easing import costs, which mitigated drops in consumption and capital investment.
In Australia, the upward pressure on wages in the third quarter is forecast to rise to 1.3 percent on quarter from 0.8 percent in the second quarter and to 3.9 percent on year from 3.6 percent previously.
Among key Chinese data, the increase in fixed asset investment for the first 10 months of the year is expected to be 3.1 percent on year in October, unchanged from September's 3.1 percent rate.
Industrial production is seen up 4.6 percent on year in October versus a 4.5 percent rise in September, which was slightly higher than expected. The year-over-year increase in retail sales is expected to post a faster pace of 6.9 percent in October, compared to 5.5 percent in the prior month.
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.
