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European indices set to open lower
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Bank of England to announce rate decision at 12:00 pm GMT
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US trade balance and services ISM data to be released in the afternoon
Futures markets point to a lower opening of the cash session today after hawkish Powell sent global stock markets lower yesterday. Powell said that it is premature to think about slowing rate hikes and that the terminal rate will be higher than previously thought. These comments triggered a strong sell-off on Wall Street, which later extended into Asian trading and is likely to weigh on European indices as well.
Key event of the day ahead is the rate decision from the Bank of England. Note that the Bank of England last met even before Liz Truss unveiled her disastrous tax cut plan. A lot has changed since, including the UK Prime Minister, and BoE will have a lot of questions to answer. However, it cannot be ruled out that it may try to dodge some of them by saying that more clear analysis will be available after the medium-term budget is presented in mid-November.
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Create account Try a demo Download mobile app Download mobile appApart from BoE rate decision, traders will also be offered a decision from Norges Bank, services ISM reading and weekly US jobless claims report. When it comes to earnings, Coinbase, Starbucks, PayPal and Moderna can be found among today's earnings reporters.
9:00 am GMT - Norges Bank rate decision
9:00 am GMT - Italy, unemployment rate for September. Expected: 7.8%. Previous: 7.8%
10:00 am GMT - Euro area, unemployment rate for September. Expected: 6.6%. Previous: 6.6%
12:00 pm GMT - Bank of England rate decision
12:30 pm GMT - US, trade balance for September. Expected: -$72.1 billion. Previous: -$67.4 billion
12:30 pm GMT - Canada, trade balance for September. Expected: C$1.35 billion. Previous: C$1.52 billion
12:30 pm GMT - Canada, building permits for October. Expected: -6.1% MoM. Previous: 11.9% MoM
12:30 pm GMT - US, jobless claims. Expected: 220k
1:45 pm GMT - US, services PMI for October (final). First release: 46.6
2:00 pm GMT - US, services ISM for October. Expected: 55.4. Previous: 56.7
2:00 pm GMT - US, factory orders for September. Expected: 0.3% MoM. Previous: 0.0% MoM
2:30 pm GMT - EIA report of natural gas storage. Expected: +97 bcf
Central bankers' speeches
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8:00 am GMT - ECB Nagel
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8:05 am GMT - ECB President Lagarde
Top US earnings reports
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Barrick Gold (GOLD.US) - before market open
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Cheniere Energy (LNG.US) - before market open
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Coinbase (COIN.US) - after market close
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ConocoPhillips (COP.US) - before market open
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DoorDash (DASH.US) - after market open
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Kellogg (K.US) - before market open
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Macerich (MAC.US) - before market open
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Marriott International (MAR.US) - before market open
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Moderna (MRNA.US) - before market open
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Monster Beverage (MNST.US) - after market close
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Nikola Corporation (NKLA.US) - before market open
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PayPal Holdings (PYPL.US) - after market close
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Starbucks (SBUX.US) - after market close
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Virgin Galactic (SPCE.US) - after market close
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Warner Bros Discovery (WBD.US) - after market close
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