Economic calendar: GBP in the spotlight ahead of Hunt's statement

• European stock markets set for flat opening

• GBP gains ahead of Jeremy Hunt's statement

• Tesla among this week's earnings reporters

Futures markets point to a flat opening of today's cash session for top blue chips indices from the Old Continent. This comes after a mixed Asian session that saw regional indices struggle to find common direction. GBP caught a bid this morning on media reports saying that PM Truss will delay some parts of its tax cut plan. New UK Chancellor of Exchequer Jeremy Hunt is set to deliver a statement on the matter this morning at 11:00 am BST. However, there is also some chatter that he may appear in the House of Commons at 3:30 pm BST as well. 

Economic calendar for today is light and does not include any top tier releases. US NY Empire index rarely triggers bigger moves on the markets. However, this look a bit more interesting as we get later into the week with releases of UK CPI data as well as a number of Q3 earnings reports from top US companies, including Netflix tomorrow and Tesla on Wednesday.

9:00 am BST - Italy, CPI inflation for September. Expected: 8.9% YoY. Previous: 8.4% YoY

11:00 am BST - UK Chancellor of Exchequer Hunt statement

1:00 pm BST - Poland, core CPI inflation for September. Expected: 10.7% YoY. Previous: 9.9% YoY

1:30 pm BST - US, New York Empire State index for October. Expected: -4.0. Previous: -1.5

Central bankers' speeches

• 8:00 pm BST - ECB Nagel

Key events in the later part of the week

Tuesday

• 1:30 am BST - RBA minutes

• 3:00 am BST - China, monthly activity data for September, Q3 GDP

• 10:00 am BST - Germany, ZEW index for October

• 2:15 pm BST - US, industrial production for September

• Top US earnings: Johnson & Johnson, Lockheed Martin, Netflix

Wednesday

• 7:00 am BST - UK, CPI inflation for September

• 10:00 am BST - Euro area, CPI inflation for September (final)

• 1:30 pm BST - Canada, CPI inflation for September

• 3:30 pm BST - DOE report on oil inventories

• Top US earnings: IBM, Procter & Gamble, Tesla, Travelers

Thursday

• 1:30 am BST - Australia, jobs report for September

• 9:00 am BST - Poland, jobs report for September

• 12:00 pm BST - CBRT rate decision

• Top US earnings: AT&T, Dow, Philip Morris

Friday

• 7:00 am BST - UK, retail sales for September

• 9:00 am BST - Poland, retail sales for September

• 1:30 pm BST - Canada, retail sales for September

• Top US earnings: American Express, Schlumberger, Verizon Communications