The upcoming week promises substantial volatility in the markets. Three policy meetings - from the U.S. Federal Reserve, Reserve Bank of New Zealand and Bank of Japan - will draw the most attention. The European Commission will release the economic growth forecasts that will be closely monitored. Traders will also keep an eye on the first estimate of the GDP growth for the third quarter in the U.S. and U.K.
Monday, October 26
In the euro area, the Ifo Institute is to report on German business climate, expected to unveil a disappointment in all sectors of the survey: the expectations, current conditions and business climate. Following that, the German Buba Monthly Report will be out.
In the U.K., the BBA mortgage approvals are scheduled for release.
The U.S. is to issue data on new home sales.
Tuesday, October 27
New Zealand is to publish data on the trade balance.
The U.K. is to release preliminary data on third quarter economic growth. The U.K. economy is expected to expand by 0.6% slightly slower than 0.7% the quarter before, on a quarterly basis. The year over year indicator is expected to have remained unchanged and show stagnant growth.
The U.S. is to produce data on durable goods orders and consumer confidence. Data on goods is expected to show a notable improvement in September but still contracting by -1.5% instead of expanding. The ex-transportation figure, however, is anticipated to have advanced by 0.1% from -0.2% in August. October’s preliminary services PMI is expected to remain unchanged.
Wednesday, October 28
Japan is to issue data on retail sales.
The Reserve Bank of Australia will release the country’s inflation rate for Q3, the RBA trimmed inflation rate and a while later the RBA annual report.
The U.S. Federal Reserve is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. The Fed is widely anticipated to keep interest rate unchanged at 0.25%.
Later in the day, New Zealand’s central bank is to announce its rate decision.
Thursday, October 29
Japanese industrial production will be out.
Australia is to report on import prices.
In the U.K., the GFK consumer confidence for October will be out.
The European Commission will release economic growth forecasts.
Spain and Germany are to post preliminary data on inflation and Germany is to publish data on the change in the number of people unemployed. The market consensus for inflation rate in Germany is to have entered the positive territory on a yearly basis but to have remained in the slight deflation on a monthly basis.
The U.S. is to release advance data on third quarter economic growth, the weekly report on jobless claims and private sector data on pending home sales. The U.S. GDP is forecast to have decreased severely to 1.7% from 3.9% the quarter before.
Friday, October 30
Inflation rate for Japan will be released and closely watched along with Japanese unemployment rate for October.
In New Zealand, the ANZ business confidence for October and activity outlook will be out.
Australia is to publish data on producer prices.
The Bank of Japan is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision.
The euro zone is to publish preliminary data on consumer inflation and unemployment and Germany is to release data on retail sales.
Canada is to post its monthly report on economic growth.
The U.S. is to terminate the week with data on personal income and spending and a report on manufacturing activity in the Chicago region. The University of Michigan Consumer Sentiment is expected to show an increase to 92.5 in October from 92.1 before.