The macroeconomic calendar is heavily populated today, with the Bank of England (BoE) interest rate decision serving as the key market focal point. Earlier data releases included Japanese wage growth, Australia’s trade balance, Swedish inflation, and German industrial production. Besides the scheduled publications, investors will hear from several central bankers attending the ECB-hosted conference.
Data from Germany proved very weak, showing only a small rebound in September industrial production, while Swedish inflation surprised to the upside, reducing the probability of further rate cuts there.
Key Macroeconomic Calendar (UK Time):
- 08:00 Spain: Industrial Production for September (Previous: 3.4% YoY)
- 08:00 Eurozone: Speech by ECB’s Schnabel
- 08:30 Germany and France: Construction PMI Indices
- 09:00 Norway: Norges Bank Interest Rate Decision (Forecast: 4.0%; Previous: 4.0%)
- 10:00 Eurozone: Retail Sales (Forecast: 0.2% MoM; Previous: 0.1% MoM)
- 12:00 UK: Bank of England Interest Rate Decision (Forecast: 4.0%; Previous: 4.0%, with a 6:3 vote split for holding, vs. 7:2 prior)
- 12:30 US: Challenger Job Cuts Report (Previous planned layoffs: 54k)
- 15:00 Canada: Ivey PMI (Forecast: 55.2; Previous: 59.8)
- 16:00 US: Speeches by Fed’s Williams and Bar
- 17:00 US: Atlanta Fed GDPNow Forecast Publication
- 19:00 Mexico: Interest Rate Decision (Forecast: 7.25%; Previous: 7.5%)
- 19:00 US: Fed Balance Sheet Total (Previous: $6.587 trn)
Canadian trade balance data is unlikely to be published due to the ongoing US government work suspension and related data limitations.
Corporate Earnings Watch
Key corporate reports due today include AstraZeneca, ConocoPhillips, Airbnb, and the German defence giant Rheinmetall.
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