Highlights
The day's featured event in the Eurozone will be the ECB council meeting. With inflation having fallen below target last month and the real economy essentially flatlining, forecasters anticipate a second successive 25 basis point cut in the key deposit rate to 3.25 percent from the ECB. The refi rate should follow suit to stand at 3.40 percent.
In economic data, forecasters see Eurozone HICP down an unrevised 0.1 percent on the month and unrevised at a gain of 1.8 percent on year. Core HICP is seen unrevised at 2.7 percent on the year.
In the US, a big data day starts with jobless claims expected to rise to 260,000 after their unexpected jump to 258,000 last week. BLS said Hurricane Helene and strike activity skewed last week's number higher but markets are on high alert for other signs of fragility in the labor market.
US retail sales are seen showing relatively muted gains for September with the headline figure up 0.3 percent and sales ex-autos up a less impressive 0.1 percent. Sales ex-autos and gas are seen up 0.3 percent.
Forecasters say the US Philadelphia Fed manufacturing business activity index should eke out another positive showing at 3.0 in October after September's marginally positive 1.7.
The consensus forecast calls for a 0.1 percent decline in US industrial production on the month, in keeping with bleak ISM purchasing managers data showing contraction in the sector. Manufacturing is seen down 0.1 percent on the month and the capacity utilization rate down slightly at 77.8 percent versus 78.0 in August.
Expectations for US business inventories call for a 0.3 percent rise.
Forecasters expect the US housing market index to indicate continued stabilization at 42 in October, up from 41 in September and 39 in August. The September increase broke a string of four consecutive declines.
In economic data, forecasters see Eurozone HICP down an unrevised 0.1 percent on the month and unrevised at a gain of 1.8 percent on year. Core HICP is seen unrevised at 2.7 percent on the year.
In the US, a big data day starts with jobless claims expected to rise to 260,000 after their unexpected jump to 258,000 last week. BLS said Hurricane Helene and strike activity skewed last week's number higher but markets are on high alert for other signs of fragility in the labor market.
US retail sales are seen showing relatively muted gains for September with the headline figure up 0.3 percent and sales ex-autos up a less impressive 0.1 percent. Sales ex-autos and gas are seen up 0.3 percent.
Forecasters say the US Philadelphia Fed manufacturing business activity index should eke out another positive showing at 3.0 in October after September's marginally positive 1.7.
The consensus forecast calls for a 0.1 percent decline in US industrial production on the month, in keeping with bleak ISM purchasing managers data showing contraction in the sector. Manufacturing is seen down 0.1 percent on the month and the capacity utilization rate down slightly at 77.8 percent versus 78.0 in August.
Expectations for US business inventories call for a 0.3 percent rise.
Forecasters expect the US housing market index to indicate continued stabilization at 42 in October, up from 41 in September and 39 in August. The September increase broke a string of four consecutive declines.
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.
