Weekly Outlook: Oct 30 - Nov 3

Monday

Asia: Japanese retail sales for September are set at 23:50 GMT (Sunday), with market analysts pointing at a 2.6 percent growth.

Europe: German retail sales are due for release as of 07:00 GMT, with a 0.6 percent build seen for September. At 13:00 GMT, Europe’s first economy will present its consumer price index for October, with an estimated month-to-month increase of 0.1 percent eyed.

United States: further inflation data from the US will be in focus. The core PCE price index for September is set for publishing at 12:30 GMT. Analysts expect a rise of 0.2 percent. Personal spending will become available at the same time, with a 0.7 percent build seen.

Tuesday

Asia: Japan’s household spending, jobs/applications ratio will be out by 23:30 GMT (Monday). Twenty minutes later, investors will receive the latest industrial production figures. China will present its manufacturing and non-manufacturing activity indexes for October at 01:00 GMT.

Europe: German stock markets will be closed as the country celebrates its Reformation Day. Eurozone’s CPI for October and the unemployment rate for September will be out at 10:00 GMT.

United States: third-quarter unemployment cost index is due for release at 12:30 GMT. Half an hour later, players will assess the latest S&P/Case-Shiller house price index, which gauges variations in selling prices of single-family homes in 20 metropolitan areas. The Conference Board will present its consumer confidence indicator for October at 14:00 GMT.

Wednesday

Asia: China’s Caixin manufacturing PMI for October will be out by 01:45 GMT, with a 51.5 points reading on the watch.

Europe: UK’s nationwide HPI for October is set for release at 07:00 GMT. Later on, Markit’s manufacturing PMI for October will be presented at 09:30 GMT.

United States: ADP nonfarm employment change for October will be release as of 12:15 GMT, with analysts forecasting a 225,000 jobs addition. The Institute for Supply Management will present its manufacturing PMI for October at 14:00 GMT, while Markit will release its own at 14:45 GMT. However, attention will be mainly directed to the Federal Reserve monetary policy meeting. The rate decision will be announced at 18:00 GMT. No changes are expected.

Thursday

Europe: Germany’s manufacturing PMI for October will be out as of 08:55 GMT and the latest unemployment rate at 09:00 GMT. Eurozone’s manufacturing PMI is set at 09:00 GMT. After these publications, focus is likely to shift to the United Kingdom, where the Bank of England will hold a new monetary policy meeting and the interest rate is expected to rise by 25 basis points to 0.50 percent. The decision will hit the markets by 12:00 GMT.

United States: Nonfarm productivity for the third quarter, along with unit labor costs will be presented at 12:30 GMT, with 2.0 percent and 0.4 percent builds seen respectively.

Friday

Asia: China’s Caixin services PMI for October will be released at 01:45 GMT. Japanese markets will remain closed for holidays.

Europe: UK’s services PMI for October is up at 09:30 GMT.

United States: All eyes will be placed at October’s nonfarm payrolls, unemployment rate and average hourly earnings, which are set for release at 12:30 GMT. Economists are forecasting a 295,000 jobs increase last month and no changes to the current 4.2 percent unemployment rate. Earnings are expected to rise 0.3 percent. Trade balance figures will also be out at 12:30 GMT, with a deficit of $43.4 billion seen. ISM non-manufacturing PMI and Markit’s services PMI for October are due at 14:00 GMT and 14:45 GMT respectively.

Fort Financial Services