Economic calendar: China economy still struggling despite the multiple government stimulus

• Markets in Europe will open slightly lower after a weaker session in the Asia-Pacific regions
• Final inflation data in Europe
• University of Michigan report from the US

The first part of today extended the gloomier sentiment after yesterday's publication of a higher-than-expected CPI report in the US. Right after the report, we could observe a sharp strengthening of the dollar, an increase in bond yields, and capital outflow from risky assets, including stocks. Indices from the Asia-Pacific region also started the session in a similar tone.

Declines in the indices from China accelerated after a new series of macro data. China's CPI for September was 0%, and the PPI was -2.5% YoY. After both consumer and producer prices turned out to be lower than expected, indicating that the country's economy is still struggling despite the government implementing a series of support measures, stocks in Hong Kong and mainland China continued to fall.

Detailed calendar of the day:

8:00 AM (BST), Spain - inflation data for September:

• CPI: Expectations: 3.5% YoY; previously 2.6% YoY
• HICP: Expectations: 3.2% YoY; previously 2.4% YoY

8:00 AM (BST), Slovakia - inflation data for September:

• CPI: Expectations: 8.1% YoY; previously 8.9% YoY

9:00 AM (BST), Poland - inflation data for September:

• CPI: Expectations: 8.2% YoY; previously 10.1% YoY

3:00 PM (BST), US - University of Michigan report:

• Consumer sentiment: Expectations 67.5; previously 68.1
• 1-year inflation expectations: previously 3.2%
• YoY 5-year inflation expectations: previously 2.8% YoY

Bankers' speeches:

• 8:45 AM (BST) - Germany, Bundesbank - President Nagel
• 9:00 AM (BST) - UK, BoE - President Bailey
• 2:00 PM (BST) - ECB, BoE - President Lagarde
• 2:00 PM (BST) - Fed, BoE - Fed member Harker