In the UK, overall net borrowing in the public sector net borrowing requirement (PSNB) data is forecast at £13.53 billion in October, down from £12.9 billion in September.

US existing home sales in October are expected to slow slightly to a 3.91 million annual rate after September's 3.96 million rate. Low inventory of homes for sale, high prices and high interest rates have been hurting sales.

Canada's consumer inflation is expected to ease back to 3.2 percent on year in October from September's lower-than-expected 3.8 percent. It accelerated to 4.0 percent in August from 3.6 percent in July in light of higher energy prices after slowing to 2.8 percent in June, which was the lowest since 2.2 percent in March 2021.

At 2 p.m. EST (1900 GMT), the Federal Open Market Committee will release the minutes of its Oct. 31-Nov. 1 meeting. The FOMC decided to maintain the target range for the federal funds rate at a range of 5.00 to 5.25 percent after pausing in September and raising it by 25 basis points in July. It is letting the cumulative effects of the current tightening cycle cool off economic activity, and thus inflation. Fed Chairman Jerome Powell left the door open for further tightening but the FOMC is expected to stand pat in December.

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.

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.