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European stock markets seen opening slightly lower
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US Q3 GDP report expected to show slowdown
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EUR traders to watch German CPI, ECB decision
Futures markets point to a slightly lower opening of the European cash session today. Asian equities moved lower today following a late reversal on Wall Street yesterday. Risk-off moods can also be spotted on the FX market with Japanese yen being the best performing major. Oil managed to halt decline and is trying to recover from recent losses.
The day ahead looks very interesting. Investors will be offered flash CPI readings for October from Spain and Germany. In both cases acceleration is expected. EUR will also get a chance to move when ECB announces its monetary policy decision. No change is expected but volatility may pick-up during announcement hour (12:45 pm BST) and Lagarde's presser (1:30 pm BST). However, a top macro event of the day will be the release of the US GDP report for Q3. A big slowdown in growth compared to Q2 is expected as supply chain issues became more severe and part of virus restrictions returned.
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Create account Try a demo Download mobile app Download mobile appLast but not least, earnings season is a full swing and today investors will be offered earnings reports from 2 US mega caps - Apple and Amazon. Apart from that, Caterpillar - world's largest construction machinery manufacturer - will also report.
8:00 am BST - Spain, CPI inflation for October (flash). Expected: 5.2% YoY. Previous: 4.0% YoY
8:55 am BST - Germany, unemployment rate for October. Expected: 5.4%. Previous: 5.5%
12:45 pm BST - ECB rate decision
1:00 pm BST - Germany, CPI inflation for October (flash). Expected: 4.4% YoY. Previous: 4.1% YoY
1:30 pm BST - US, GDP report for Q3 2021
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Annualized GDP growth. Expected: 2.7%. Previous: 6.7%
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PCE Core. Expected: 4.5% QoQ. Previous: 6.1% QoQ
1:30 pm BST - US, jobless claims. Expected: 291k. Previous: 290k
3:30 pm BST - EIA natural gas storage. Expected: 86 bcf. Previous: 92 bcf
US earnings releases
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Apple (AAPL.US) - after market close
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Amazon (AMZN.US) - after market close
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Mastercard (MA.US) - before market open
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Comcast (CMCSA.US) - before market open
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Merck (MRK.US) - before market open
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Starbucks (SBUX.US) - after market close
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Caterpillar (CAT.US) - before market open
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Gilead Sciences (GILD.US) - after market close
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Shopify (SHOP.US) - before market open
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