Economic calendar: ADP report and FOMC decision in focus

• European markets set to open slightly lower
• FOMC to announce monetary policy decision at 6:00 pm GMT
• ADP report expected to show 400k jobs gains

European stock markets are set for a slightly lower opening today, following a mixed trading in Asia. The day ahead features many top-tier releases. Markets are in wait-and-see mode ahead of the FOMC decision scheduled for the evening (6:00 pm GMT). Expectations for earlier Fed tightening rose after the latest US inflation reading came higher than anticipated. The US central bank is set to announce the start of its monthly bond purchase tapering process, but investors shifted their attention to the timing of rate hikes. Other major reading of the day will be released earlier at 12:15 pm GMT - ADP employment report for October. This will be a final hint ahead of US official jobs data release on Friday. However, it should be noted that ADP has been a poor predictor of NFP readings in recent months. Last but not least, US oil inventories data will be released at 3:30 pm BST and may trigger some short-term volatility on the oil market.

8:00 am GMT - Spain, Unemployment change for October. Expected: 21.2k. Previous: -76.1k

9:30 am GMT - UK, Final Services PMI for October. Expected: 58.0 Previous: 58.0

10:00 am GMT - Eurozone, Unemployment rate for September. Expected: 7.4% Previous: 7.5%

12:15 pm GMT - US, ADP report on employment for October. Expected: 400k. Previous: 568k

1:45 pm GMT - US, Final Services PMI for October. Expected: 58.2 Previous: 54.9

2:00 pm GMT - US, ISM Services PMI for October. Expected: 62.0 Previous: 61.9

2:00 pm GMT - US, Factory orders for September. Expected: 0.1% Previous: 1.2%

2:30 pm GMT - DOE report on oil inventories:​​​​

• Oil inventories. Expected: +2.225 mb
• Gasoline inventories. Expected: -1.333 mb
• Distillate inventories. Expected: -1.443 mb

6:00 pm BST - FOMC decision

Central bankers speeches:

• 10:00 am GMT - ECB President Lagarde
• 1:00 pm GMT - Gov Council Member Gravelle 
• 4:00 pm GMT - BOE Gov Bailey

Top US earnings releases:

• CVS Health (CVS.US) - before market open
• Electronic Arts (EA.US)- after market close
• Etsy (ETSY.US)- after market close
• Infinera (INFN.US)- after market close
• Marathon Oil (MRO.US)- after market close
• Marriott International (MAR.US)- before market open
• MGM Resorts International (MGM.US)- after market close
• Norwegian Cruise Line Holdings (NCLH.US)- before market open
• Qualcomm (QCOM.US)- after market close
• Roku (ROKU.US)-  after market close
• SunPower (SPWR.US)- after market close
• Take-Two Interactive Software (TTWO.US)-  after market close