Economic calendar: Alphabet earnings and Brexit in the spotlight

• Semi-important data from the US to be released in the afternoon

• Decision on the length of Brexit extension expected today

• Alphabet to release earnings report after session close

12:30 pm BST - US, wholesale inventories for September. Today’s release of the US wholesale inventories data will be the preliminary one and, in turn, could have an impact on the USD. Market expects a 0.3% MoM increase. However, one should keep in mind that FOMC meeting is the main event of the week for USD and all US data will be weighted against it.

1:30 pm BST - US, Dallas Fed manufacturing index for October. Dallas index recovered from the June dip but still remains close to the 0 pts barrier. Situation is not expected to change in October as market consensus points to a drop to 1 from 1.5 pts.

Brexit

Reports say that France has agreed to grant the UK a 3-month Brexit extension. Final discussions over the length of an extension are scheduled for today and it is likely that 3-month, flexible extension (allowing the UK to leave the EU at the end of November, December or January) will be granted. However, such a decision is expected therefore GBP should be more prone to the situation in the UK parliament, where Boris Johnson struggles to gather required support for snap elections bid.

Central bankers’ speeches

• 3:00 pm BST - ECB President Draghi speaks at farewell event

• 5:00 pm BST - BoE’s Tenreyro

Major companies reporting earnings today

• Covestro (COV1.DE)

• Deutsche Boerse (DB1.DE)

• Walgreens Boots Alliance (WBA.US)

• Alphabet (GOOGL.US)